Comerica Inc (NYSE:CMA) announced a quarterly dividend on Tuesday, April 24th, RTT News reports. Investors of record on Friday, June 15th will be given a dividend of 0.34 per share by the financial services provider on Sunday, July 1st. This represents a $1.36 annualized dividend and a dividend yield of 1.42%. This is an increase from Comerica’s previous quarterly dividend of $0.30.
Comerica has increased its dividend by an average of 10.3% per year over the last three years and has raised its dividend every year for the last 6 years. Comerica has a dividend payout ratio of 24.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Comerica to earn $7.60 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 15.8%.
Shares of CMA stock traded down $0.56 on Tuesday, hitting $95.45. 613,309 shares of the stock traded hands, compared to its average volume of 1,568,368. The company has a current ratio of 1.02, a quick ratio of 1.00 and a debt-to-equity ratio of 0.70. The firm has a market cap of $16,501.94, a P/E ratio of 20.30, a P/E/G ratio of 1.01 and a beta of 1.38. Comerica has a 1-year low of $64.04 and a 1-year high of $102.66.
In other news, EVP Megan D. Burkhart sold 4,670 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $99.20, for a total transaction of $463,264.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Ralph W. Babb, Jr. sold 50,000 shares of the firm’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $95.25, for a total value of $4,762,500.00. The disclosure for this sale can be found here. Insiders have sold 210,506 shares of company stock worth $20,468,762 over the last three months. Corporate insiders own 0.83% of the company’s stock.
Several equities research analysts recently issued reports on CMA shares. Royal Bank of Canada reissued a “buy” rating and set a $103.00 price target on shares of Comerica in a research report on Wednesday, January 17th. Vining Sparks reissued a “buy” rating and set a $97.50 price target on shares of Comerica in a research report on Tuesday, January 16th. Nomura raised Comerica from a “neutral” rating to a “buy” rating and increased their target price for the stock from $86.00 to $106.00 in a research report on Friday, January 5th. Instinet raised Comerica from a “neutral” rating to a “buy” rating in a research report on Friday, January 5th. Finally, ValuEngine raised Comerica from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $97.06.
COPYRIGHT VIOLATION WARNING: “Comerica Inc (CMA) Increases Dividend to $0.34 Per Share” was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://stocknewstimes.com/2018/04/24/comerica-inc-cma-increases-dividend-to-0-34-per-share.html.
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.
Receive News & Ratings for Comerica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comerica and related companies with MarketBeat.com's FREE daily email newsletter.