Comerica (NYSE:CMA) Stock Rating Upgraded by Truist Financial

Truist Financial upgraded shares of Comerica (NYSE:CMA - Free Report) to a hold rating in a research note released on Monday morning,Zacks.com reports.

Other analysts also recently issued reports about the company. Piper Sandler increased their price objective on Comerica from $64.00 to $72.00 and gave the company a "neutral" rating in a report on Tuesday, December 3rd. StockNews.com raised Comerica from a "sell" rating to a "hold" rating in a research note on Monday, October 21st. Wells Fargo & Company upgraded Comerica from an "underweight" rating to an "equal weight" rating and raised their price objective for the stock from $51.00 to $73.00 in a research report on Friday, November 15th. Keefe, Bruyette & Woods upped their target price on Comerica from $72.00 to $82.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Finally, DA Davidson raised their price target on shares of Comerica from $64.00 to $68.00 and gave the stock a "neutral" rating in a report on Monday, October 21st. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $67.14.

Comerica Trading Down 0.5 %

Comerica stock traded down $0.31 during trading hours on Monday, hitting $62.25. The stock had a trading volume of 1,818,112 shares, compared to its average volume of 1,407,962. The stock has a market cap of $8.19 billion, a price-to-earnings ratio of 15.56 and a beta of 1.26. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.97. The business's 50 day simple moving average is $66.54 and its 200-day simple moving average is $59.77. Comerica has a one year low of $45.32 and a one year high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last posted its earnings results on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.17 by $0.16. Comerica had a net margin of 11.17% and a return on equity of 12.54%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $806.49 million. During the same period last year, the company earned $1.84 EPS. On average, equities analysts predict that Comerica will post 5.37 EPS for the current fiscal year.

Comerica announced that its Board of Directors has initiated a stock buyback program on Tuesday, November 5th that authorizes the company to buyback 10,000,000 shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date was Friday, December 13th. Comerica's dividend payout ratio is currently 71.00%.

Insider Buying and Selling at Comerica

In other news, EVP James Harry Weber sold 6,500 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $63.23, for a total value of $410,995.00. Following the completion of the transaction, the executive vice president now directly owns 15,773 shares of the company's stock, valued at $997,326.79. This represents a 29.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Allysun C. Fleming sold 1,392 shares of Comerica stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $68.83, for a total value of $95,811.36. Following the sale, the executive vice president now owns 8,730 shares in the company, valued at $600,885.90. This trade represents a 13.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,456 shares of company stock worth $977,287. Corporate insiders own 0.19% of the company's stock.

Institutional Trading of Comerica

Large investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC bought a new position in shares of Comerica during the 3rd quarter worth $36,000. Wilmington Savings Fund Society FSB purchased a new stake in Comerica during the third quarter valued at about $42,000. EverSource Wealth Advisors LLC boosted its position in Comerica by 19.7% during the second 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 during the period. Cranbrook Wealth Management LLC purchased a new position in shares of Comerica in the second quarter worth about $79,000. Finally, Sunbelt Securities Inc. raised its position in shares of Comerica by 400.0% in the second quarter. Sunbelt Securities Inc. now owns 2,500 shares of the financial services provider's stock valued at $128,000 after purchasing an additional 2,000 shares during the period. Hedge funds and other institutional investors 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.