Comerica (NYSE:CMA) PT Lowered to $78.00 at BMO Capital Markets

Comerica (NYSE:CMA) had its target price reduced by BMO Capital Markets to $78.00 in a research note issued to investors on Thursday morning, The Fly reports. They currently have a market perform rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on CMA. ValuEngine downgraded Zumiez from a hold rating to a sell rating in a research note on Tuesday, July 2nd. Citigroup raised Infosys from a neutral rating to a buy rating in a research note on Friday, July 12th. Jefferies Financial Group set a $158.00 price objective on HCA Healthcare and gave the company a buy rating in a research note on Wednesday, April 17th. Bank of America set a $97.00 price objective on Merck & Co., Inc. and gave the company a buy rating in a research note on Thursday, July 11th. Finally, Raymond James downgraded First Midwest Bancorp to a hold rating in a research note on Monday, July 8th. Six research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $86.33.

Shares of CMA opened at $70.67 on Thursday. The firm has a market cap of $10.89 billion, a P/E ratio of 9.03, a PEG ratio of 1.29 and a beta of 1.44. Comerica has a 12 month low of $63.69 and a 12 month high of $100.64. The stock’s 50-day moving average is $70.93. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.02 and a quick ratio of 1.03.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.07). The business had revenue of $853.00 million during the quarter, compared to analyst estimates of $859.09 million. Comerica had a net margin of 33.29% and a return on equity of 16.92%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.87 earnings per share. Equities research analysts forecast that Comerica will post 8.02 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, July 1st. Investors of record on Friday, June 14th were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend was Thursday, June 13th. Comerica’s dividend payout ratio (DPR) is currently 37.02%.

In related news, EVP Christine M. Moore sold 3,200 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $73.49, for a total transaction of $235,168.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.98% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of CMA. Trust Department MB Financial Bank N A raised its stake in Comerica by 64.3% during the 1st quarter. Trust Department MB Financial Bank N A now owns 345 shares of the financial services provider’s stock worth $25,000 after buying an additional 135 shares during the period. Liberty Wealth Management LLC bought a new stake in Comerica during the 4th quarter worth approximately $26,000. CWM LLC increased its holdings in Comerica by 247.5% during the 1st quarter. CWM LLC now owns 424 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 302 shares in the last quarter. Zions Bancorporation N.A. bought a new stake in Comerica during the 1st quarter worth approximately $35,000. Finally, Executive Wealth Management LLC bought a new stake in Comerica during the 4th quarter worth approximately $36,000. 83.46% of the stock is currently owned by institutional investors and hedge funds.

Comerica Company Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers 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 middle market businesses, multinational corporations, and governmental entities.

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