StockNews.com Upgrades Comerica (NYSE:CMA) to “Hold”

Comerica (NYSE:CMA) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Thursday.

A number of other equities research analysts have also commented on CMA. Wells Fargo & Company reduced their price objective on shares of Comerica from $48.00 to $45.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 12th. Raymond James upgraded Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a report on Tuesday, July 2nd. DA Davidson reissued a “neutral” rating and issued a $55.00 price objective on shares of Comerica in a research report on Tuesday, September 10th. Truist Financial upped their target price on Comerica from $53.00 to $66.00 and gave the company a “hold” rating in a research report on Friday, September 20th. Finally, Robert W. Baird decreased their target price on Comerica from $72.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Comerica currently has an average rating of “Hold” and a consensus price target of $58.81.

Comerica Price Performance

Shares of CMA traded up $0.54 during trading hours on Thursday, reaching $58.67. The stock had a trading volume of 1,187,724 shares, compared to its average volume of 2,165,999. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. Comerica has a 12 month low of $37.40 and a 12 month high of $61.84. The stock has a market capitalization of $7.78 billion, a PE ratio of 11.66 and a beta of 1.23. The company’s 50-day moving average is $56.08 and its two-hundred day moving average is $53.11.

Comerica (NYSE:CMA) last posted its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.30. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $812.79 million. During the same period in the previous year, the firm posted $2.01 EPS. Research analysts expect that Comerica will post 5.06 EPS for the current year.

Insider Buying and Selling at Comerica

In related news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $57.51, for a total transaction of $146,362.95. Following the transaction, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at $1,605,104.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Allianz Asset Management GmbH bought a new position in Comerica during the fourth quarter valued at about $4,096,000. Treasurer of the State of North Carolina increased its stake in shares of Comerica by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 58,359 shares of the financial services provider’s stock worth $3,257,000 after purchasing an additional 570 shares during the last quarter. KBC Group NV bought a new stake in shares of Comerica in the 4th quarter worth approximately $140,000. Rafferty Asset Management LLC lifted its stake in Comerica by 8.6% in the fourth quarter. Rafferty Asset Management LLC now owns 57,179 shares of the financial services provider’s stock valued at $3,191,000 after purchasing an additional 4,540 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Comerica by 51.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock valued at $143,109,000 after purchasing an additional 870,812 shares during the period. Institutional investors own 80.74% of the company’s stock.

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.