Comerica (NYSE:CMA) had its price target cut by Morgan Stanley from $98.00 to $96.00 in a research report report published on Tuesday. They currently have an overweight rating on the financial services provider’s stock.

A number of other research firms also recently issued reports on CMA. Zacks Investment Research downgraded shares of Comerica from a buy rating to a hold rating in a research report on Tuesday, September 25th. Vining Sparks restated a buy rating and set a $107.00 target price on shares of Comerica in a research report on Tuesday, October 9th. B. Riley set a $107.00 target price on shares of Comerica and gave the company a buy rating in a research report on Monday, October 15th. BMO Capital Markets cut their price objective on shares of Comerica from $108.00 to $100.00 and set an outperform rating for the company in a report on Wednesday, October 17th. Finally, Royal Bank of Canada lifted their price objective on shares of Comerica to $100.00 and gave the company an outperform rating in a report on Wednesday, October 17th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Comerica presently has an average rating of Hold and an average price target of $98.09.

NYSE CMA traded up $0.29 on Tuesday, reaching $73.37. 76,012 shares of the company’s stock traded hands, compared to its average volume of 2,170,981. The company has a market capitalization of $11.84 billion, a PE ratio of 15.49, a P/E/G ratio of 0.46 and a beta of 1.38. Comerica has a fifty-two week low of $63.69 and a fifty-two week high of $102.66. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.03 and a quick ratio of 1.03.

Comerica (NYSE:CMA) last posted its earnings results on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.81 by $0.05. The company had revenue of $833.00 million during the quarter, compared to the consensus estimate of $852.72 million. Comerica had a net margin of 29.54% and a return on equity of 14.41%. During the same period in the previous year, the firm posted $1.26 earnings per share. Research analysts expect that Comerica will post 7.2 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th were paid a dividend of $0.60 per share. The ex-dividend date of this dividend was Thursday, December 13th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.27%. Comerica’s dividend payout ratio is currently 50.74%.

Several hedge funds have recently added to or reduced their stakes in the company. Cerebellum GP LLC increased its stake in shares of Comerica by 94.9% during the fourth quarter. Cerebellum GP LLC now owns 3,700 shares of the financial services provider’s stock worth $254,000 after purchasing an additional 1,802 shares in the last quarter. Highwater Wealth Management LLC purchased a new stake in shares of Comerica during the fourth quarter worth about $32,000. Moody National Bank Trust Division increased its stake in shares of Comerica by 0.9% during the fourth quarter. Moody National Bank Trust Division now owns 22,198 shares of the financial services provider’s stock worth $1,524,000 after purchasing an additional 198 shares in the last quarter. Csenge Advisory Group purchased a new stake in shares of Comerica during the third quarter worth about $39,000. Finally, Vanguard Group Inc increased its stake in shares of Comerica by 3.5% during the third quarter. Vanguard Group Inc now owns 18,993,812 shares of the financial services provider’s stock worth $1,713,241,000 after purchasing an additional 634,716 shares in the last quarter. 84.55% of the stock is owned by institutional investors and hedge funds.

Comerica Company Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through three segments: Business Bank, the Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication services to middle market businesses, multinational corporations, and governmental entities.

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Analyst Recommendations for Comerica (NYSE:CMA)

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