Comerica Incorporated Declares Quarterly Dividend of $0.67 (NYSE:CMA)

Comerica Incorporated (NYSE:CMA) announced a quarterly dividend on Tuesday, November 5th, RTT News reports. Stockholders of record on Friday, December 13th will be given a dividend of 0.67 per share by the financial services provider on Wednesday, January 1st. This represents a $2.68 annualized dividend and a dividend yield of 3.81%.

NYSE:CMA opened at $70.35 on Thursday. The firm has a market capitalization of $10.10 billion, a price-to-earnings ratio of 9.72, a PEG ratio of 0.56 and a beta of 1.54. Comerica has a 1 year low of $58.54 and a 1 year high of $88.96. The business has a 50 day simple moving average of $65.64 and a 200-day simple moving average of $68.69. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.03 and a quick ratio of 1.03.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.06. Comerica had a return on equity of 16.82% and a net margin of 32.11%. The firm had revenue of $842.00 million for the quarter, compared to the consensus estimate of $836.10 million. During the same period in the prior year, the business posted $1.86 earnings per share. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, analysts expect that Comerica will post 7.72 earnings per share for the current fiscal year.

Several equities research analysts have recently weighed in on CMA shares. Wedbush reduced their price target on Comerica from $75.00 to $71.00 and set a “neutral” rating on the stock in a report on Thursday, August 22nd. Bank of America downgraded Comerica from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $85.00 to $71.00 in a report on Thursday, July 11th. UBS Group reduced their price target on Comerica from $73.00 to $68.00 and set a “neutral” rating on the stock in a report on Monday, October 21st. Barclays reduced their price target on Comerica from $81.00 to $74.00 and set an “underweight” rating on the stock in a report on Thursday, September 12th. Finally, Argus downgraded Comerica from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Seven analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $73.75.

In other news, Director Reginald M. Turner, Jr. sold 2,495 shares of Comerica stock in a transaction on Monday, October 28th. The stock was sold at an average price of $66.66, for a total value of $166,316.70. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.98% of the company’s stock.

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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Dividend History for Comerica (NYSE:CMA)

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