Comerica (NYSE:CMA) Rating Increased to Hold at StockNews.com

Comerica (NYSE:CMA) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a report released on Monday.

Other equities analysts have also recently issued reports about the company. DA Davidson restated a “neutral” rating and set a $55.00 price objective on shares of Comerica in a research note on Tuesday, September 10th. Morgan Stanley lifted their target price on Comerica from $50.00 to $61.00 and gave the stock an “equal weight” rating in a research note on Monday, August 5th. Raymond James upgraded Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. lowered their target price on Comerica from $62.00 to $57.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Finally, Piper Sandler lifted their target price on Comerica from $51.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $55.73.

Comerica Price Performance

Shares of CMA opened at $58.52 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. The business’s fifty day moving average is $54.71 and its 200 day moving average is $52.40. Comerica has a 12-month low of $37.40 and a 12-month high of $59.14. The stock has a market cap of $7.76 billion, a P/E ratio of 11.63 and a beta of 1.23.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, beating 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 business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $812.79 million. During the same period last year, the business earned $2.01 EPS. Sell-side analysts anticipate that Comerica will post 5.05 earnings per share for the current fiscal year.

Insider Buying and Selling at Comerica

In other news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the completion of the sale, the executive vice president now owns 27,910 shares in the company, valued at approximately $1,605,104.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Comerica by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock valued at $941,968,000 after acquiring an additional 676,959 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Comerica by 51.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock worth $206,468,000 after buying an additional 1,370,886 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Comerica by 51.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock worth $143,109,000 after buying an additional 870,812 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Comerica by 1.1% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,834,304 shares of the financial services provider’s stock worth $93,621,000 after buying an additional 19,068 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Comerica by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,857 shares of the financial services provider’s stock worth $78,288,000 after buying an additional 130,458 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.