Raymond James cut shares of Comerica (NYSE:CMA) from an outperform rating to a market perform rating in a report published on Monday morning, BenzingaRatingsTable reports.

A number of other equities research analysts also recently weighed in on the company. DA Davidson dropped their target price on Comerica from $87.00 to $85.00 and set a neutral rating for the company in a report on Wednesday, April 17th. Goldman Sachs Group downgraded LATAM Airlines Group from a neutral rating to a sell rating and lifted their target price for the stock from $9.20 to $9.30 in a report on Tuesday, July 2nd. Piper Jaffray Companies set a $29.00 target price on Bausch Health Companies and gave the stock a buy rating in a report on Tuesday, June 11th. Zacks Investment Research downgraded Granite Point Mortgage Trust from a buy rating to a hold rating in a report on Tuesday, March 19th. Finally, Jefferies Financial Group set a $158.00 target price on HCA Healthcare and gave the stock a buy rating in a report on Wednesday, April 17th. Five equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. Comerica currently has a consensus rating of Hold and an average target price of $88.10.

Comerica stock traded up $1.07 during mid-day trading on Monday, hitting $72.55. 1,551,226 shares of the company’s stock traded hands, compared to its average volume of 1,905,415. The company has a 50 day moving average of $71.03. Comerica has a fifty-two week low of $63.69 and a fifty-two week high of $100.64. The stock has a market capitalization of $11.02 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 1.28 and a beta of 1.44. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.03.

Comerica (NYSE:CMA) last posted its earnings results on Tuesday, April 16th. The financial services provider reported $2.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.15. Comerica had a return on equity of 16.95% and a net margin of 34.75%. The company had revenue of $852.00 million during the quarter, compared to the consensus estimate of $852.88 million. During the same quarter last year, the firm earned $1.59 earnings per share. The company’s revenue was up 7.4% on a year-over-year basis. Equities research analysts forecast that Comerica will post 8.18 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Friday, June 14th were given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 3.69%. The ex-dividend date was Thursday, June 13th. Comerica’s dividend payout ratio is presently 37.02%.

In other news, EVP Christine M. Moore sold 3,200 shares of the business’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $73.49, for a total transaction of $235,168.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 0.98% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the company. Trust Department MB Financial Bank N A lifted its stake in shares of Comerica by 64.3% in the first quarter. Trust Department MB Financial Bank N A now owns 345 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 135 shares during the period. Liberty Wealth Management LLC acquired a new position in shares of Comerica in the fourth quarter worth approximately $26,000. Claybrook Capital LLC acquired a new position in shares of Comerica in the fourth quarter worth approximately $29,000. CWM LLC lifted its stake in shares of Comerica by 247.5% in the first quarter. CWM LLC now owns 424 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 302 shares during the period. Finally, JOYN Advisors Inc. lifted its stake in shares of Comerica by 1,325.0% in the fourth quarter. JOYN Advisors Inc. now owns 513 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 477 shares during the period. Institutional investors own 83.43% 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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Analyst Recommendations for Comerica (NYSE:CMA)

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