Comerica Incorporated (CMA) To Go Ex-Dividend on March 14th

Comerica Incorporated (NYSE:CMA) declared a quarterly dividend on Tuesday, February 25th, RTT News reports. Stockholders of record on Friday, March 14th will be paid a dividend of 0.71 per share by the financial services provider on Tuesday, April 1st. This represents a $2.84 annualized dividend and a dividend yield of 4.98%. The ex-dividend date is Friday, March 14th.

Comerica has increased its dividend payment by an average of 1.5% per year over the last three years. Comerica has a payout ratio of 48.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Comerica to earn $5.80 per share next year, which means the company should continue to be able to cover its $2.84 annual dividend with an expected future payout ratio of 49.0%.

Comerica Stock Up 1.7 %

Shares of CMA opened at $57.07 on Wednesday. The company’s 50-day moving average price is $64.07 and its 200 day moving average price is $63.38. Comerica has a 12-month low of $45.32 and a 12-month high of $73.45. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm has a market cap of $7.50 billion, a P/E ratio of 11.37 and a beta of 1.23.

Comerica (NYSE:CMA) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same quarter in the previous year, the company earned $1.46 earnings per share. On average, sell-side analysts forecast that Comerica will post 5.28 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on CMA shares. Barclays raised their price target on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. JPMorgan Chase & Co. dropped their target price on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Stephens reissued an “overweight” rating and set a $72.00 price target on shares of Comerica in a research report on Wednesday, March 5th. Royal Bank of Canada lowered their price objective on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Finally, Truist Financial raised shares of Comerica to a “hold” rating in a research note on Monday, January 6th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Comerica has an average rating of “Hold” and a consensus target price of $68.67.

Comerica Company Profile

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.