Comerica (NYSE:CMA) Upgraded to Hold by StockNews.com

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

CMA has been the topic of a number of other reports. DA Davidson reiterated a neutral rating and issued a $55.00 price objective on shares of Comerica in a research report on Tuesday, September 10th. Truist Financial lowered Comerica from a buy rating to a hold rating and lowered their price objective for the stock from $55.00 to $53.00 in a research report on Monday, July 22nd. Piper Sandler upped their target price on shares of Comerica from $51.00 to $52.00 and gave the company a neutral rating in a research report on Monday, July 22nd. Keefe, Bruyette & Woods upgraded shares of Comerica from a market perform rating to an outperform rating and lifted their price target for the stock from $50.00 to $69.00 in a research report on Thursday, September 5th. Finally, Wells Fargo & Company cut their price objective on shares of Comerica from $48.00 to $45.00 and set an underweight rating on the stock in a report on Wednesday, June 12th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Comerica has a consensus rating of Hold and a consensus target price of $55.73.

Comerica Stock Performance

Shares of NYSE:CMA opened at $58.00 on Monday. The business has a fifty day moving average of $54.71 and a 200-day moving average of $52.40. The firm has a market cap of $7.69 billion, a PE ratio of 11.53 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 has a twelve month low of $37.40 and a twelve month high of $58.50.

Comerica (NYSE:CMA) last announced its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.30. 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 the consensus estimate of $812.79 million. During the same period in the previous year, the firm posted $2.01 earnings per share. On average, equities research analysts predict that Comerica will post 5.05 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, September 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.90%. Comerica’s payout ratio is 56.46%.

Insider Buying and Selling

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction dated Friday, August 23rd. The stock was 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

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