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

StockNews.com upgraded shares of Comerica (NYSE:CMA) from a sell rating to a hold rating in a research report report published on Monday morning.

Other research analysts have also issued reports about the company. Bank of America lowered Comerica from a “neutral” rating to an “underperform” rating and dropped their target price for the stock from $55.00 to $52.00 in a research report on Monday, October 7th. Barclays raised their price objective on shares of Comerica from $56.00 to $66.00 and gave the company an “underweight” rating in a research report on Monday. Evercore ISI boosted their target price on shares of Comerica from $58.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Piper Sandler raised their price target on shares of Comerica from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Finally, Morgan Stanley upped their price objective on shares of Comerica from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Monday. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $62.19.

Comerica Stock Performance

CMA stock opened at $62.02 on Monday. The firm has a 50 day simple moving average of $57.96 and a 200 day simple moving average of $53.77. Comerica has a 52 week low of $37.40 and a 52 week high of $66.06. The stock has a market cap of $8.22 billion, a P/E ratio of 12.33 and a beta of 1.23. 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, beating analysts’ consensus estimates of $1.17 by $0.16. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $806.49 million. During the same quarter last year, the business posted $1.84 EPS. Research analysts anticipate that Comerica will post 5.12 earnings per share for the current fiscal year.

Insider Activity at Comerica

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction 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 sale, the executive vice president now directly owns 27,910 shares in the company, valued at $1,605,104.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

A number of hedge funds have recently modified their holdings of CMA. Price T Rowe Associates Inc. MD lifted its position in Comerica by 105.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 182,402 shares of the financial services provider’s stock worth $10,031,000 after purchasing an additional 3,595,036 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Comerica by 51.3% during 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 acquiring an additional 1,370,886 shares during the period. Samlyn Capital LLC acquired a new stake in shares of Comerica during the 2nd quarter valued at about $35,375,000. Principal Financial Group Inc. increased its stake in Comerica by 311.2% in the second quarter. Principal Financial Group Inc. now owns 663,100 shares of the financial services provider’s stock valued at $33,845,000 after acquiring an additional 501,857 shares during the period. Finally, Hsbc Holdings PLC raised its position in Comerica by 183.5% in the second quarter. Hsbc Holdings PLC now owns 548,786 shares of the financial services provider’s stock worth $27,608,000 after purchasing an additional 355,229 shares in 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.