Comerica (NYSE:CMA) Upgraded at StockNews.com

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

Other research analysts have also issued research reports about the company. JPMorgan Chase & Co. cut their price target on Comerica from $62.00 to $57.00 and set a neutral rating on the stock in a research report on Thursday, June 27th. Robert W. Baird cut their target price on shares of Comerica from $72.00 to $68.00 and set an outperform rating on the stock in a report on Thursday, June 20th. Morgan Stanley increased their price target on shares of Comerica from $61.00 to $63.00 and gave the stock an equal weight rating in a research note on Monday, September 30th. Piper Sandler lifted their price objective on shares of Comerica from $51.00 to $52.00 and gave the company a neutral rating in a research note on Monday, July 22nd. Finally, Barclays reduced their target price on shares of Comerica from $59.00 to $56.00 and set an underweight rating for the company in a report on Monday, July 22nd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average target price of $58.81.

Comerica Trading Up 0.3 %

NYSE CMA opened at $58.86 on Thursday. The firm’s fifty day moving average price is $56.31 and its 200 day moving average price is $53.21. Comerica has a 12 month low of $37.40 and a 12 month high of $61.84. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 11.70 and a beta of 1.23.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $812.79 million. During the same quarter last year, the company posted $2.01 earnings per share. On average, sell-side analysts expect that Comerica will post 5.06 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date was Friday, September 13th. Comerica’s dividend payout ratio is currently 56.46%.

Insider Buying and Selling at Comerica

In other news, EVP Christine M. Moore sold 2,545 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the sale, the executive vice president now owns 27,910 shares of the company’s stock, valued at $1,605,104.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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