Wells Fargo & Company Lowers Comerica (NYSE:CMA) Price Target to $55.00

Comerica (NYSE:CMA) had its target price cut by Wells Fargo & Company from $67.00 to $55.00 in a research report sent to investors on Tuesday,Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other equities research analysts have also weighed in on the company. DA Davidson dropped their target price on Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Robert W. Baird dropped their price objective on shares of Comerica from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Tuesday. The Goldman Sachs Group lowered shares of Comerica from a “buy” rating to a “neutral” rating and reduced their target price for the company from $85.00 to $71.00 in a research note on Tuesday, January 7th. Evercore ISI cut shares of Comerica from an “in-line” rating to an “underperform” rating and decreased their target price for the stock from $65.00 to $50.00 in a research report on Tuesday. Finally, UBS Group raised Comerica from a “sell” rating to a “neutral” rating and set a $59.00 price target on the stock in a report on Thursday, April 10th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $62.84.

Comerica Trading Up 2.0 %

NYSE CMA opened at $53.37 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. Comerica has a one year low of $45.32 and a one year high of $73.45. The company has a 50-day simple moving average of $57.68 and a 200-day simple moving average of $62.68. The firm has a market capitalization of $7.00 billion, a PE ratio of 10.63 and a beta of 0.96.

Comerica (NYSE:CMA) last posted its earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.14 by $0.11. The company had revenue of $829.00 million during the quarter, compared to analyst estimates of $839.31 million. Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same period in the prior year, the company earned $1.29 earnings per share. On average, equities analysts forecast that Comerica will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.84 annualized dividend and a dividend yield of 5.32%. Comerica’s dividend payout ratio (DPR) is 56.57%.

Institutional Trading of Comerica

A number of hedge funds and other institutional investors have recently made changes to their positions in CMA. Trust Co. of Vermont boosted its holdings in Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after buying an additional 321 shares in the last quarter. Luken Investment Analytics LLC bought a new stake in shares of Comerica during the 4th quarter worth $31,000. MCF Advisors LLC grew its holdings in shares of Comerica by 56.3% in the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Comerica in the 3rd quarter worth $42,000. Finally, V Square Quantitative Management LLC lifted its holdings in shares of Comerica by 36.7% during the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 221 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Comerica Company Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services for small and middle market businesses, multinational corporations, and governmental entities.