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

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

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Comerica from $62.00 to $57.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. Morgan Stanley upped their target price on Comerica from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Monday. Royal Bank of Canada lowered their price target on Comerica from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Wedbush raised Comerica from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $52.00 to $75.00 in a report on Tuesday, September 24th. Finally, Truist Financial raised their target price on shares of Comerica from $53.00 to $66.00 and gave the company a “hold” rating in a research note on Friday, September 20th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $58.81.

Comerica Stock Performance

Shares of Comerica stock traded up $0.54 during trading hours on Thursday, reaching $58.67. The company 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 current ratio of 0.96 and a quick ratio of 0.96. Comerica has a one year low of $37.40 and a one year high of $61.84. The firm has a market cap of $7.78 billion, a PE ratio of 11.66 and a beta of 1.23. The business has a fifty day simple moving average of $56.08 and a 200 day simple moving average of $53.11.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.30. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $812.79 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same period in the prior year, the firm posted $2.01 earnings per share. On average, analysts anticipate that Comerica will post 5.06 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 the company’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 completion of the transaction, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at $1,605,104.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Pitcairn Co. increased its stake in shares of Comerica by 2.9% during the first quarter. Pitcairn Co. now owns 6,800 shares of the financial services provider’s stock valued at $374,000 after buying an additional 190 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Comerica by 19.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,207 shares of the financial services provider’s stock valued at $66,000 after buying an additional 199 shares during the period. Texas Permanent School Fund Corp raised its stake in Comerica by 0.7% in the first quarter. Texas Permanent School Fund Corp now owns 27,245 shares of the financial services provider’s stock worth $1,498,000 after buying an additional 201 shares in the last quarter. Summit Securities Group LLC boosted its position in Comerica by 22.4% during the 2nd quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 202 shares in the last quarter. Finally, UMB Bank n.a. grew 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 acquiring an additional 208 shares during the period. 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.