Comerica (NYSE:CMA) Lowered to “Underperform” Rating by Evercore ISI

Evercore ISI cut shares of Comerica (NYSE:CMA) from an in-line rating to an underperform rating in a report published on Tuesday, Marketbeat Ratings reports. The brokerage currently has $50.00 price objective on the financial services provider’s stock, down from their previous price objective of $65.00.

Several other analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods dropped their price target on Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. UBS Group upgraded Comerica from a “sell” rating to a “neutral” rating and set a $59.00 price objective for the company in a report on Thursday, April 10th. Wells Fargo & Company dropped their target price on shares of Comerica from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. Finally, The Goldman Sachs Group lowered shares of Comerica from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $71.00 in a research note on Tuesday, January 7th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $62.84.

Comerica Price Performance

CMA opened at $51.51 on Tuesday. The stock’s 50 day moving average price is $58.25 and its 200-day moving average price is $62.79. Comerica has a 52-week low of $45.32 and a 52-week high of $73.45. The stock has a market capitalization of $6.76 billion, a PE ratio of 10.26 and a beta of 0.96. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.14 by $0.11. Comerica had a net margin of 13.98% and a return on equity of 12.04%. The business had revenue of $829.00 million during the quarter, compared to analyst estimates of $839.31 million. During the same period in the prior year, the business earned $1.29 EPS. On average, equities research analysts predict that Comerica will post 5.28 EPS for the current year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.51%. The ex-dividend date of this dividend was Friday, March 14th. Comerica’s payout ratio is currently 56.57%.

Institutional Investors Weigh In On Comerica

Several large investors have recently bought and sold shares of the business. Trust Co. of Vermont grew its stake in shares of Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 321 shares during the period. Luken Investment Analytics LLC purchased a new stake in Comerica in the fourth quarter worth approximately $31,000. MCF Advisors LLC grew its position in Comerica by 56.3% in the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 228 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Comerica during the 3rd quarter valued at $42,000. Finally, V Square Quantitative Management LLC lifted its holdings in shares of Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after buying an additional 221 shares during the period. 80.74% of the stock is currently owned by institutional investors.

About Comerica

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company 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, payment solutions, card services, 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.