Comerica (NYSE:CMA) Stock Rating Upgraded by Wedbush

Wedbush upgraded shares of Comerica (NYSE:CMA) from a neutral rating to an outperform rating in a research note published on Tuesday, MarketBeat.com reports. They currently have $75.00 price target on the financial services provider’s stock, up from their prior price target of $52.00. Wedbush also issued estimates for Comerica’s Q4 2024 earnings at $1.07 EPS, Q2 2025 earnings at $1.41 EPS, Q3 2025 earnings at $1.55 EPS, Q2 2026 earnings at $1.64 EPS and FY2026 earnings at $6.70 EPS.

CMA has been the topic of a number of other research reports. Raymond James upgraded shares of Comerica from a market perform rating to an outperform rating and set a $60.00 price objective on the stock in a research note on Tuesday, July 2nd. Piper Sandler lifted their price target on shares of Comerica from $51.00 to $52.00 and gave the stock a neutral rating in a research note on Monday, July 22nd. DA Davidson reissued a neutral rating and issued a $55.00 price objective on shares of Comerica in a research report on Tuesday, September 10th. Royal Bank of Canada decreased their price target on Comerica from $58.00 to $56.00 and set an outperform rating for the company in a research note on Monday, July 22nd. Finally, JPMorgan Chase & Co. cut their price objective on Comerica from $62.00 to $57.00 and set a neutral rating on the stock in a research note on Thursday, June 27th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Comerica presently has a consensus rating of Hold and a consensus target price of $58.24.

Comerica Stock Performance

NYSE:CMA opened at $59.47 on Tuesday. The firm’s fifty day simple moving average is $55.46 and its 200 day simple moving average is $52.87. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. Comerica has a twelve month low of $37.40 and a twelve month high of $61.84. The firm has a market capitalization of $7.88 billion, a price-to-earnings ratio of 11.82 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 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $812.79 million. During the same quarter in the previous year, the firm posted $2.01 earnings per share. As a group, equities research analysts expect that Comerica will post 5.06 earnings per share for the current fiscal year.

Comerica Announces Dividend

The company also recently announced 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 of this dividend is Friday, September 13th. This represents a $2.84 annualized dividend and a yield of 4.78%. Comerica’s payout ratio is 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 on 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 can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Comerica

Several hedge funds have recently made changes to their positions in CMA. Bluefin Capital Management LLC bought a new stake in Comerica during the second quarter worth approximately $245,000. Sanctuary Advisors LLC bought a new stake in shares of Comerica during the 2nd quarter worth $449,000. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Comerica by 200.9% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 32,400 shares of the financial services provider’s stock worth $1,654,000 after acquiring an additional 21,631 shares in the last quarter. LHM Inc. grew its holdings in shares of Comerica by 45.3% in the 2nd quarter. LHM Inc. now owns 43,740 shares of the financial services provider’s stock worth $2,264,000 after acquiring an additional 13,640 shares during the last quarter. Finally, Truist Financial Corp acquired a new stake in shares of Comerica during the second quarter worth $318,000. 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.