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 note issued to investors on Tuesday.

A number of other analysts have also recently weighed in on CMA. Piper Sandler increased their price objective on Comerica from $51.00 to $52.00 and gave the stock a neutral rating in a research report on Monday, July 22nd. The Goldman Sachs Group lowered their price objective on shares of Comerica from $69.00 to $62.00 and set a buy rating on the stock in a research report on Tuesday, June 4th. Truist Financial downgraded shares of Comerica from a buy rating to a hold rating and cut their price objective for the stock from $55.00 to $53.00 in a research report on Monday, July 22nd. Royal Bank of Canada lowered 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. Finally, Citigroup lowered shares of Comerica from a buy rating to a neutral rating and dropped their price target for the stock from $60.00 to $56.00 in a research note on Monday, May 6th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and a consensus target price of $55.45.

Comerica Stock Down 0.0 %

CMA stock opened at $56.51 on Tuesday. The company’s 50 day moving average is $53.07 and its two-hundred day moving average is $51.84. Comerica has a twelve month low of $37.40 and a twelve month high of $58.50. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 1.23. The stock has a market cap of $7.49 billion, a P/E ratio of 11.23 and a beta of 1.25.

Comerica (NYSE:CMA) last posted its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.30. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $812.79 million. During the same period in the previous year, the business earned $2.01 EPS. Research analysts expect that Comerica will post 5.05 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 5.03%. The ex-dividend date of this dividend is Friday, September 13th. Comerica’s payout ratio is presently 56.46%.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the business’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 owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

A number of large investors have recently bought and sold shares of CMA. Pitcairn Co. raised its holdings in Comerica by 2.9% during the first quarter. Pitcairn Co. now owns 6,800 shares of the financial services provider’s stock worth $374,000 after acquiring an additional 190 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Comerica by 19.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,207 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 199 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in Comerica by 0.7% during 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 during the last quarter. Summit Securities Group LLC raised its position in Comerica by 22.4% during the second quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock worth $56,000 after acquiring an additional 202 shares in the last quarter. Finally, UMB Bank n.a. lifted its stake in Comerica by 39.3% in the second 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. 80.74% of the stock is currently owned by 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.