Comerica (NYSE:CMA) Upgraded to Outperform by Raymond James

Raymond James upgraded shares of Comerica (NYSE:CMAGet Rating) from a market perform rating to an outperform rating in a report published on Monday, The Fly reports. They currently have $85.00 price target on the financial services provider’s stock.

Several other research firms have also issued reports on CMA. TheStreet upgraded shares of Comerica from a c+ rating to a b- rating in a report on Friday, August 12th. Royal Bank of Canada decreased their price target on shares of Comerica from $95.00 to $90.00 and set an outperform rating for the company in a research note on Thursday, October 20th. Citigroup decreased their price target on shares of Comerica from $95.00 to $90.00 and set a buy rating for the company in a research note on Thursday, October 6th. Compass Point decreased their target price on shares of Comerica to $88.00 in a research report on Thursday, October 20th. Finally, Wedbush decreased their target price on shares of Comerica from $95.00 to $84.00 and set an outperform rating for the company in a research report on Thursday, October 20th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average price target of $90.38.

Comerica Price Performance

Shares of NYSE:CMA opened at $70.81 on Monday. The firm has a market cap of $9.27 billion, a PE ratio of 9.38, a price-to-earnings-growth ratio of 1.32 and a beta of 1.20. The firm’s fifty day moving average is $72.36 and its 200-day moving average is $76.40. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.85 and a current ratio of 0.85. Comerica has a 52 week low of $64.11 and a 52 week high of $102.09.

Comerica (NYSE:CMAGet Rating) last released its earnings results on Wednesday, October 19th. The financial services provider reported $2.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.57 by $0.03. Comerica had a net margin of 30.73% and a return on equity of 16.56%. During the same period last year, the business earned $1.90 EPS. Sell-side analysts predict that Comerica will post 8.53 earnings per share for the current year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Thursday, December 15th will be paid a dividend of $0.68 per share. The ex-dividend date of this dividend is Wednesday, December 14th. This represents a $2.72 dividend on an annualized basis and a yield of 3.84%. Comerica’s dividend payout ratio is currently 36.03%.

Institutional Trading of Comerica

A number of large investors have recently made changes to their positions in CMA. Ronald Blue Trust Inc. purchased a new position in Comerica during the second quarter valued at approximately $27,000. Quent Capital LLC lifted its holdings in shares of Comerica by 292.3% in the 1st quarter. Quent Capital LLC now owns 306 shares of the financial services provider’s stock valued at $28,000 after acquiring an additional 228 shares during the last quarter. Tcwp LLC purchased a new stake in Comerica in the 1st quarter worth about $30,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Comerica during the first quarter worth approximately $31,000. Finally, Oakworth Capital Inc. purchased a new position in shares of Comerica during the second quarter worth approximately $34,000. 82.56% of the stock is currently owned by institutional investors.

About Comerica

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Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance, and Other. The Commercial Bank segment meets the needs of small and middle market businesses, multinational corporations and governmental entities by offering various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services.

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Analyst Recommendations for Comerica (NYSE:CMA)

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