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

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

A number of other equities research analysts have also commented on CMA. Bank of America lowered Comerica from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $55.00 to $52.00 in a research report on Monday, October 7th. Barclays raised their target price on Comerica from $56.00 to $66.00 and gave the company an “underweight” rating in a research note on Monday. Stephens upped their price target on shares of Comerica from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday. Evercore ISI raised their price objective on shares of Comerica from $58.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Finally, Morgan Stanley upped their target price on shares of Comerica from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $62.57.

Comerica Stock Up 1.5 %

Shares of NYSE:CMA opened at $62.92 on Monday. The company’s fifty day moving average is $58.59 and its 200-day moving average is $54.02. 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 52 week low of $37.48 and a 52 week high of $66.06. The company has a market capitalization of $8.34 billion, a PE ratio of 12.51 and a beta of 1.23.

Comerica (NYSE:CMA) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.16. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $806.49 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same period in the previous year, the business earned $1.84 earnings per share. Equities research analysts predict that Comerica will post 5.12 earnings per share for the current fiscal year.

Insider Activity at Comerica

In other Comerica news, EVP Bruce Mitchell sold 7,564 shares of the stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $62.20, for a total value of $470,480.80. Following the sale, the executive vice president now directly owns 16,428 shares in the company, valued at approximately $1,021,821.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Bruce Mitchell sold 7,564 shares of the company’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $62.20, for a total value of $470,480.80. Following the completion of the sale, the executive vice president now owns 16,428 shares in the company, valued at $1,021,821.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

Hedge funds have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD increased its position in shares of Comerica by 105.3% during 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 acquiring an additional 3,595,036 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in 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 purchasing an additional 1,370,886 shares in the last quarter. Samlyn Capital LLC acquired a new stake in shares of Comerica in the 2nd quarter valued at about $35,375,000. Principal Financial Group Inc. boosted its position in shares of Comerica by 311.2% during the second quarter. Principal Financial Group Inc. now owns 663,100 shares of the financial services provider’s stock worth $33,845,000 after buying an additional 501,857 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in shares of Comerica by 183.5% during the second quarter. Hsbc Holdings PLC now owns 548,786 shares of the financial services provider’s stock worth $27,608,000 after buying an additional 355,229 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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.