Comerica (NYSE:CMA) Stock Rating Lowered by StockNews.com

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

A number of other brokerages also recently issued reports on CMA. Morgan Stanley boosted their price target on Comerica from $61.00 to $63.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Barclays reduced their target price on Comerica from $59.00 to $56.00 and set an “underweight” rating on the stock in a report on Monday, July 22nd. Stephens reiterated an “overweight” rating and set a $58.00 target price on shares of Comerica in a report on Tuesday, September 10th. Keefe, Bruyette & Woods upgraded Comerica from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $50.00 to $69.00 in a research note on Thursday, September 5th. Finally, 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. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Comerica has an average rating of “Hold” and a consensus target price of $59.62.

Comerica Trading Up 3.2 %

Shares of CMA stock opened at $61.28 on Friday. 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 has a 50-day moving average price of $56.89 and a two-hundred day moving average price of $53.48. Comerica has a 12-month low of $37.40 and a 12-month high of $61.84. The firm has a market cap of $8.12 billion, a P/E ratio of 12.18 and a beta of 1.23.

Comerica (NYSE:CMA) last released its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $812.79 million. During the same quarter in the previous year, the company posted $2.01 EPS. Equities analysts anticipate that Comerica will post 5.12 EPS for the current fiscal 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 value 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Comerica

A number of institutional investors have recently bought and sold shares of CMA. Family Firm Inc. purchased a new position in shares of Comerica during the second quarter valued at about $37,000. UMB Bank n.a. lifted its holdings in shares of Comerica by 39.3% in the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 208 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of 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 acquiring an additional 817 shares during the last quarter. Abich Financial Wealth Management LLC lifted its holdings in shares of Comerica by 50.2% in the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 300 shares during the last quarter. Finally, Summit Securities Group LLC lifted its stake in Comerica by 22.4% in the second quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 202 shares during the last quarter. Hedge funds and other 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.