StockNews.com Downgrades Comerica (NYSE:CMA) to Sell

Comerica (NYSE:CMA) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Friday.

CMA has been the subject of several other research reports. Piper Sandler lifted their target price on Comerica from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Royal Bank of Canada lowered their price objective on shares of Comerica from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Wedbush upgraded shares of Comerica from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $52.00 to $75.00 in a report on Tuesday, September 24th. Truist Financial raised their target price on shares of Comerica from $53.00 to $66.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. upped their price target on Comerica from $57.00 to $65.00 and gave the company a “neutral” rating in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Comerica presently has a consensus rating of “Hold” and a consensus target price of $59.62.

Comerica Stock Up 0.1 %

CMA stock opened at $59.36 on Friday. The firm’s 50-day moving average is $56.71 and its two-hundred day moving average is $53.41. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 11.80 and a beta of 1.23. Comerica has a 52 week low of $37.40 and a 52 week high of $61.84. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23.

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

Insiders Place Their Bets

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the completion of the sale, the executive vice president now directly owns 27,910 shares in the company, valued at $1,605,104.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

Several large investors have recently made changes to their positions in CMA. Family Firm Inc. bought a new stake in Comerica during the second quarter worth approximately $37,000. UMB Bank n.a. boosted its holdings in shares of Comerica by 39.3% during the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock worth $38,000 after buying an additional 208 shares during the period. Versant Capital Management Inc grew its stake in Comerica by 2,723.3% in the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after buying an additional 817 shares during the last quarter. Abich Financial Wealth Management LLC lifted its position in Comerica by 50.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 300 shares during the last quarter. Finally, Summit Securities Group LLC grew its position in shares of Comerica by 22.4% in the second quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 202 shares during the last quarter. 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.