Comerica Incorporated (NYSE:CMA) declared a quarterly dividend on Tuesday, February 23rd, RTT News reports. Investors of record on Monday, March 15th will be paid a dividend of 0.68 per share by the financial services provider on Thursday, April 1st. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.91%.
Comerica has raised its dividend payment by 149.5% over the last three years and has increased its dividend every year for the last 9 years.
Shares of CMA stock traded up $1.41 on Tuesday, reaching $69.55. 48,479 shares of the stock were exchanged, compared to its average volume of 1,332,309. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.77. The business’s 50 day moving average price is $62.07 and its 200 day moving average price is $49.74. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of 18.95 and a beta of 1.67. Comerica has a twelve month low of $24.28 and a twelve month high of $69.26.
CMA has been the subject of a number of analyst reports. Stephens upgraded shares of Comerica from an “equal weight” rating to an “overweight” rating and set a $62.00 target price for the company in a research note on Thursday, December 17th. Raymond James upped their price objective on shares of Comerica from $71.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, January 20th. Truist upped their price objective on shares of Comerica from $56.00 to $67.00 in a research note on Wednesday, January 20th. B. Riley upped their price objective on shares of Comerica from $65.00 to $72.00 and gave the company a “buy” rating in a research note on Wednesday, January 20th. Finally, Robert W. Baird downgraded shares of Comerica from an “outperform” rating to a “neutral” rating and set a $60.00 target price for the company. in a research note on Wednesday, January 13th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $48.71.
In related news, EVP Cassandra M. Mckinney sold 4,643 shares of the company’s stock in a transaction on Thursday, February 4th. The shares were sold at an average price of $62.23, for a total transaction of $288,933.89. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.55% of the stock is currently owned by corporate insiders.
Comerica Company Profile
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It 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, 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.
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