Comerica (NYSE:CMA) Rating Increased to Hold at StockNews.com

Comerica (NYSE:CMA - Get Free Report) was upgraded by equities researchers at StockNews.com from a "sell" rating to a "hold" rating in a report issued on Monday.

Several other research analysts also recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Comerica from $65.00 to $70.00 and gave the stock a "neutral" rating in a research note on Monday. Evercore ISI boosted 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. Morgan Stanley boosted their price objective on shares of Comerica from $63.00 to $67.00 and gave the company an "equal weight" rating in a research report on Monday. Piper Sandler boosted their price objective 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. Finally, Royal Bank of Canada reduced their price objective on shares of Comerica from $58.00 to $56.00 and set an "outperform" rating on the stock in a research report on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $62.19.

Comerica Price Performance

Comerica stock traded down $2.92 during mid-day trading on Monday, hitting $62.02. 2,779,377 shares of the company traded hands, compared to its average volume of 2,162,192. Comerica has a one year low of $37.40 and a one year high of $66.06. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of 12.33 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. The stock has a fifty day moving average price of $57.96 and a 200-day moving average price of $53.77.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly 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 12.15% and a return on equity of 15.01%. The firm 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 firm posted $1.84 earnings per share. On average, equities analysts predict that Comerica will post 5.12 earnings per share for the current fiscal year.

Insider Activity at Comerica

In related news, EVP Christine M. Moore sold 2,545 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $57.51, for a total transaction of $146,362.95. Following the sale, the executive vice president now directly owns 27,910 shares of the company's stock, valued at approximately $1,605,104.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.

Institutional Trading of Comerica

Institutional investors have recently bought and sold shares of the company. V Square Quantitative Management LLC purchased a new stake in Comerica during the 3rd quarter valued at about $36,000. Family Firm Inc. purchased a new stake in shares of Comerica during the 2nd quarter valued at about $37,000. UMB Bank n.a. boosted its holdings in shares of Comerica by 39.3% during the 2nd 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. Versant Capital Management Inc boosted its holdings in shares of Comerica by 2,723.3% during the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider's stock valued at $43,000 after acquiring an additional 817 shares during the last quarter. Finally, Abich Financial Wealth Management LLC boosted its holdings in shares of Comerica by 50.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider's stock valued at $49,000 after acquiring an additional 300 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other 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.

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