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

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Comerica Incorporated (NYSE:CMA) announced a quarterly dividend on Tuesday, November 5th, RTT News reports. Shareholders 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 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date of this dividend is Thursday, December 12th.

Shares of CMA stock opened at $70.75 on Tuesday. Comerica has a 12 month low of $58.54 and a 12 month high of $88.96. The firm has a market cap of $10.29 billion, a PE ratio of 9.77, a price-to-earnings-growth ratio of 0.57 and a beta of 1.56. The stock has a 50 day moving average of $69.15 and a 200-day moving average of $67.70. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.02.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.06. Comerica had a net margin of 32.11% and a return on equity of 16.82%. The business had revenue of $842.00 million for the quarter, compared to the consensus estimate of $836.10 million. During the same quarter last year, the company posted $1.86 earnings per share. Comerica’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities analysts predict that Comerica will post 7.71 EPS for the current fiscal year.

In other news, EVP Peter William Guilfoile sold 6,959 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $71.45, for a total value of $497,220.55. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Reginald M. Turner, Jr. sold 2,495 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $66.66, for a total value of $166,316.70. The disclosure for this sale can be found here. Corporate insiders own 0.98% of the company’s stock.

A number of analysts have weighed in on CMA shares. SunTrust Banks reduced their price target on shares of Comerica from $75.00 to $67.00 and set a “hold” rating for the company in a report on Tuesday, September 10th. Stephens restated a “hold” rating and issued a $72.00 price target on shares of Comerica in a research report on Wednesday, October 16th. Barclays cut their price objective on shares of Comerica from $81.00 to $74.00 and set an “underweight” rating for the company in a research report on Thursday, September 12th. Citigroup cut their price objective on shares of Comerica from $66.00 to $54.00 and set a “sell” rating for the company in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. cut shares of Comerica from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $70.00 to $65.00 in a research note on Thursday, October 17th. Six investment analysts have rated the stock with a sell rating and sixteen have given a hold rating to the stock. Comerica presently has an average rating of “Hold” and an average price target of $72.91.

About Comerica

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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