Comerica (NYSE:CMA) had its target price reduced by Barclays from $81.00 to $74.00 in a research report released on Thursday morning, BenzingaRatingsTable reports. They currently have an underweight rating on the financial services provider’s stock.

CMA has been the topic of a number of other reports. Odeon Capital Group downgraded shares of Comerica from a buy rating to a sell rating in a report on Wednesday, September 4th. Piper Jaffray Companies set a $91.00 price objective on shares of Comerica and gave the stock a buy rating in a report on Tuesday, June 11th. Bank of America downgraded shares of Comerica from a neutral rating to an underperform rating and cut their price objective for the stock from $85.00 to $71.00 in a report on Thursday, July 11th. SunTrust Banks cut their price objective on shares of Comerica from $75.00 to $67.00 and set a hold rating on the stock in a report on Tuesday, September 10th. Finally, Morgan Stanley cut their price objective on shares of Comerica from $90.00 to $82.00 and set an overweight rating on the stock in a report on Tuesday, September 10th. Seven analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of $81.48.

CMA opened at $65.60 on Thursday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.02 and a quick ratio of 1.02. The company has a market capitalization of $9.67 billion, a price-to-earnings ratio of 9.06, a P/E/G ratio of 0.58 and a beta of 1.52. The firm’s fifty day moving average price is $63.85 and its two-hundred day moving average price is $72.53. Comerica has a 1 year low of $58.54 and a 1 year high of $95.39.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.01 by ($0.07). The firm had revenue of $853.00 million for the quarter, compared to analysts’ expectations of $859.09 million. Comerica had a return on equity of 16.92% and a net margin of 33.29%. Comerica’s revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.87 earnings per share. As a group, equities analysts anticipate that Comerica will post 7.84 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend is Thursday, September 12th. Comerica’s dividend payout ratio (DPR) is currently 37.02%.

Several large investors have recently modified their holdings of CMA. American Century Companies Inc. lifted its holdings in Comerica by 166.2% during the first quarter. American Century Companies Inc. now owns 3,581,586 shares of the financial services provider’s stock valued at $262,602,000 after purchasing an additional 2,236,331 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in Comerica by 9,489.4% during the second quarter. Nuveen Asset Management LLC now owns 1,601,235 shares of the financial services provider’s stock valued at $116,313,000 after purchasing an additional 1,584,537 shares during the last quarter. Invesco Ltd. lifted its holdings in Comerica by 62.1% during the second quarter. Invesco Ltd. now owns 2,745,769 shares of the financial services provider’s stock valued at $199,452,000 after purchasing an additional 1,051,819 shares during the last quarter. AJO LP purchased a new stake in Comerica during the first quarter valued at about $60,749,000. Finally, Vanguard Group Inc. lifted its holdings in Comerica by 1.5% during the second quarter. Vanguard Group Inc. now owns 19,414,199 shares of the financial services provider’s stock valued at $1,410,248,000 after purchasing an additional 293,069 shares during the last quarter. 86.56% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Comerica (NYSE:CMA)

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