Comerica Incorporated (CMA) to Issue Quarterly Dividend of $0.71 on January 1st

by · The Cerbat Gem

Comerica Incorporated (NYSE:CMA – Get Free Report) declared a quarterly dividend on Tuesday, November 4th. Stockholders of record on Monday, December 15th will be given a dividend of 0.71 per share by the financial services provider on Thursday, January 1st. This represents a c) annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Monday, December 15th.

Comerica has increased its dividend payment by an average of 0.0%per year over the last three years. Comerica has a dividend payout ratio of 50.0% 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 Performance

Shares of NYSE:CMA traded down $0.41 during midday trading on Friday, reaching $89.47. 1,304,641 shares of the company’s stock traded hands, compared to its average volume of 1,279,097. Comerica has a one year low of $48.12 and a one year high of $90.44. The stock has a 50 day moving average of $79.32 and a 200 day moving average of $69.82. The company has a market cap of $11.43 billion, a price-to-earnings ratio of 17.07 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 0.96.

Comerica (NYSE:CMA – Get Free Report) last released its quarterly earnings data on Monday, December 9th. The financial services provider reported $1.53 earnings per share for the quarter. The firm had revenue of $824.00 million during the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. As a group, equities research analysts anticipate that Comerica will post 5.28 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CMA. Cantor Fitzgerald started coverage on Comerica in a research report on Wednesday, September 10th. They issued a “neutral” rating and a $72.00 target price on the stock. Keefe, Bruyette & Woods restated a “market perform” rating and set a $93.00 target price (up from $73.00) on shares of Comerica in a research report on Friday, October 10th. Piper Sandler set a $82.00 price target on shares of Comerica and gave the stock a “neutral” rating in a research report on Tuesday, October 7th. Truist Financial boosted their price objective on shares of Comerica from $68.00 to $70.00 and gave the company a “hold” rating in a research report on Friday, September 12th. Finally, Morgan Stanley raised Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 target price on the stock in a report on Tuesday, October 7th. Two investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $74.26.

Read Our Latest Stock Report on CMA

Comerica Company Profile

(Get Free Report)

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.

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