Comerica (CMA) Declares $0.71 Dividend

Comerica said on February 28, 2023 that its board of directors declared a regular quarterly dividend of $0.71 per share ($2.84 annualized). Previously, the company paid $0.68 per share.

Shares must be purchased before the ex-div date of March 14, 2023 to qualify for the dividend. Shareholders of record as of March 15, 2023 will receive the payment on April 1, 2023.

At the current share price of $68.24 / share, the stock's dividend yield is 4.16%. Looking back five years and taking a sample every week, the average dividend yield has been 3.97%, the lowest has been 1.19%, and the highest has been 9.95%. The standard deviation of yields is 1.66 (n=236).

The current dividend yield is 0.12 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.31. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company has not increased its dividend in the last three years.

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Analyst Price Forecast Suggests 21.60% Upside

As of March 3, 2023, the average one-year price target for Comerica is $82.98. The forecasts range from a low of $72.72 to a high of $99.75. The average price target represents an increase of 21.60% from its latest reported closing price of $68.24.

The projected annual revenue for Comerica is $4,082MM, an increase of 17.50%. The projected annual non-GAAP EPS is $10.22.

What is the Fund Sentiment?

There are 1264 funds or institutions reporting positions in Comerica. This is a decrease of 56 owner(s) or 4.24% in the last quarter. Average portfolio weight of all funds dedicated to CMA is 0.20%, a decrease of 19.76%. Total shares owned by institutions increased in the last three months by 0.43% to 127,656K shares. The put/call ratio of CMA is 0.65, indicating a bullish outlook.

What are large shareholders doing?

Invesco holds 4,983K shares representing 3.79% ownership of the company. In it's prior filing, the firm reported owning 3,997K shares, representing an increase of 19.79%. The firm decreased its portfolio allocation in CMA by 99.99% over the last quarter.

VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 3,973K shares representing 3.02% ownership of the company. In it's prior filing, the firm reported owning 3,883K shares, representing an increase of 2.25%. The firm decreased its portfolio allocation in CMA by 11.17% over the last quarter.

NAESX - Vanguard Small-Cap Index Fund Investor Shares holds 3,374K shares representing 2.57% ownership of the company. In it's prior filing, the firm reported owning 3,321K shares, representing an increase of 1.55%. The firm decreased its portfolio allocation in CMA by 11.59% over the last quarter.

Bank of New York Mellon holds 3,262K shares representing 2.48% ownership of the company. In it's prior filing, the firm reported owning 6,152K shares, representing a decrease of 88.61%. The firm decreased its portfolio allocation in CMA by 91.57% over the last quarter.

Charles Schwab Investment Management holds 3,150K shares representing 2.40% ownership of the company. In it's prior filing, the firm reported owning 2,854K shares, representing an increase of 9.42%. The firm decreased its portfolio allocation in CMA by 99.92% over the last quarter.

Comerica Background Information
(This description is provided by the company.)

Comerica Incorporated is a financial services company headquartered in Dallas, Texas, and strategically aligned by three business segments: The Commercial Bank, The Retail Bank, and Wealth Management. Comerica focuses on relationships, and helping people and businesses be successful. In addition to Texas, Comerica Bank locations can be found in Arizona, California, Floridaand Michigan, with select businesses operating in several other states, as well as in Canadaand Mexico.

This story originally appeared on Fintel.