Comerica Incorporated (NYSE:CMA) Announces Quarterly Dividend of $0.71

Comerica Incorporated (NYSE:CMA) announced a quarterly dividend on Tuesday, February 25th, RTT News reports. Investors of record on Friday, March 14th will be given a dividend of 0.71 per share by the financial services provider on Tuesday, April 1st. This represents a $2.84 dividend on an annualized basis and a yield of 4.98%. The ex-dividend date is Friday, March 14th.

Comerica has increased its dividend payment by an average of 1.5% per year over the last three years. Comerica has a payout ratio of 48.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Comerica to earn $5.80 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 49.0%.

Comerica Price Performance

NYSE:CMA opened at $57.07 on Wednesday. Comerica has a 12-month low of $45.32 and a 12-month high of $73.45. The firm has a market cap of $7.50 billion, a price-to-earnings ratio of 11.37 and a beta of 1.23. The company’s 50-day moving average is $64.07 and its two-hundred day moving average is $63.38. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same quarter in the previous year, the company posted $1.46 EPS. Research analysts expect that Comerica will post 5.28 EPS for the current year.

Analyst Ratings Changes

CMA has been the topic of several analyst reports. Barclays raised their price objective on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. The Goldman Sachs Group lowered Comerica from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $71.00 in a research note on Tuesday, January 7th. Royal Bank of Canada dropped their price objective on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Morgan Stanley decreased their target price on shares of Comerica from $76.00 to $71.00 and set an “equal weight” rating on the stock in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $68.67.

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.