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

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

A number of other research firms also recently weighed in on CMA. Piper Sandler upped their price target on Comerica from $51.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods upgraded Comerica from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $50.00 to $69.00 in a report on Thursday, September 5th. Evercore ISI boosted their price target on shares of Comerica from $58.00 to $64.00 and gave the company an “in-line” rating in a research note on Wednesday, October 2nd. Raymond James raised shares of Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a research note on Tuesday, July 2nd. Finally, Truist Financial boosted their target price on shares of Comerica from $66.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Comerica presently has an average rating of “Hold” and an average price target of $62.57.

Comerica Price Performance

Comerica stock opened at $62.30 on Monday. The stock has a market capitalization of $8.26 billion, a price-to-earnings ratio of 12.39 and a beta of 1.23. Comerica has a 52-week low of $37.40 and a 52-week high of $66.06. The stock’s 50 day moving average price is $58.13 and its two-hundred day moving average price is $53.83. 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 (NYSE:CMA) last issued its earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.16. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $806.49 million. During the same period in the prior year, the firm earned $1.84 earnings per share. On average, equities analysts predict that Comerica will post 5.12 earnings per share for the current year.

Insider Transactions at Comerica

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the stock in a transaction on 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 transaction, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Comerica

Large investors have recently modified their holdings of the business. Principal Financial Group Inc. raised its holdings in Comerica by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 161,243 shares of the financial services provider’s stock valued at $8,867,000 after acquiring an additional 1,858 shares during the period. Commonwealth Equity Services LLC grew its stake in Comerica by 3.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 87,160 shares of the financial services provider’s stock worth $4,793,000 after buying an additional 2,580 shares in the last quarter. HB Wealth Management LLC increased its holdings in shares of Comerica by 7.5% in the 1st quarter. HB Wealth Management LLC now owns 5,128 shares of the financial services provider’s stock worth $282,000 after buying an additional 356 shares during the last quarter. Mission Wealth Management LP increased its stake in Comerica by 11.3% in the first quarter. Mission Wealth Management LP now owns 6,322 shares of the financial services provider’s stock valued at $348,000 after acquiring an additional 644 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Comerica by 13.1% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,189 shares of the financial services provider’s stock valued at $3,375,000 after purchasing an additional 7,418 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

About Comerica

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.