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5 Banks Set to Pay Investors From Jefferies

3. Comerica

Shares of Comerica (CMA - Get Report) of Dallas closed at $28.55 Tuesday, returning 11% year-to-date, following last year's 38% decline.

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Based on a quarterly payout of 10 cents, the shares have a dividend yield of 1.36%.

Usdin estimates that Comerica will earn $2.40 cents a share during 2012, and raise its quarterly dividend by 50% to 15 cents, for dividend payout ratio of 24% and an estimated dividend yield of 2.1%.

Jefferies also expects Comerica to repurchase 6 million shares during 2012, for $166 million, for a combined dividend and repurchase payout ratio of 60%.

Usdin's price target for Comerica is $28.00.

Comerica's shares trade for a low 0.9 times tangible book value, and 12 times the consensus 2012 EPS estimate of $2.31. The consensus 2013 EPS estimate is $2.61.

Interested in more on Comerica? See TheStreet Ratings' report card for this stock.
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