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

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

Other equities research analysts have also issued reports about the company. Evercore ISI lifted their target price on Comerica from $58.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday. Royal Bank of Canada dropped their target price on shares of Comerica from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Truist Financial boosted their price target on shares of Comerica from $53.00 to $66.00 and gave the company a “hold” rating in a report on Friday, September 20th. Wells Fargo & Company dropped their price objective on shares of Comerica from $48.00 to $45.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Comerica from $62.00 to $57.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $58.81.

Comerica Trading Up 0.3 %

CMA opened at $58.86 on Thursday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. The stock’s 50 day moving average price is $56.20 and its 200-day moving average price is $53.14. Comerica has a one year low of $37.40 and a one year high of $61.84. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 11.66 and a beta of 1.23.

Comerica (NYSE:CMA) last announced its quarterly earnings data 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. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $812.79 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same quarter last year, the business posted $2.01 EPS. On average, equities analysts forecast that Comerica will post 5.06 EPS for the current year.

Insider Buying and Selling at Comerica

In other news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction on 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 sale, the executive vice president now directly owns 27,910 shares in the company, valued at approximately $1,605,104.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 Inflows and Outflows

Several institutional investors have recently modified their holdings of CMA. OLD National Bancorp IN increased its holdings in Comerica by 4.9% in the 2nd quarter. OLD National Bancorp IN now owns 237,650 shares of the financial services provider’s stock worth $12,130,000 after buying an additional 11,049 shares during the period. Entropy Technologies LP purchased a new position in shares of Comerica during the first quarter worth $1,764,000. SG Americas Securities LLC lifted its position in Comerica by 66.2% during the second quarter. SG Americas Securities LLC now owns 62,868 shares of the financial services provider’s stock valued at $3,209,000 after purchasing an additional 25,040 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Comerica by 39.3% in the second quarter. Assenagon Asset Management S.A. now owns 220,659 shares of the financial services provider’s stock valued at $11,262,000 after purchasing an additional 62,269 shares during the last quarter. Finally, LSV Asset Management grew its position in Comerica by 13.6% during the 1st quarter. LSV Asset Management now owns 835,389 shares of the financial services provider’s stock worth $45,938,000 after purchasing an additional 100,189 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

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.