Comerica (NYSE:CMA) Raised to “Hold” at StockNews.com

StockNews.com upgraded shares of Comerica (NYSE:CMA) from a sell rating to a hold rating in a research note issued to investors on Monday.

Other analysts have also recently issued reports about the company. Royal Bank of Canada dropped their price target on Comerica from $58.00 to $56.00 and set an outperform rating on the stock in a research report on Monday. Deutsche Bank Aktiengesellschaft assumed coverage on Comerica in a research report on Wednesday, April 10th. They set a hold rating and a $59.00 price target on the stock. Citigroup cut Comerica from a buy rating to a neutral rating and dropped their price target for the stock from $60.00 to $56.00 in a research report on Monday, May 6th. Wells Fargo & Company dropped their price target on Comerica from $48.00 to $45.00 and set an underweight rating on the stock in a research report on Wednesday, June 12th. Finally, Raymond James upgraded Comerica from a market perform rating to an outperform rating and set a $60.00 price target on the stock in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $54.95.

Comerica Trading Down 1.6 %

NYSE:CMA opened at $51.28 on Monday. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. The business’s 50 day moving average is $50.66 and its two-hundred day moving average is $51.66. Comerica has a 52 week low of $37.40 and a 52 week high of $58.50. The company has a market cap of $6.80 billion, a PE ratio of 10.19 and a beta of 1.25.

Comerica (NYSE:CMA) last released its earnings results 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 the consensus estimate of $812.79 million. During the same quarter last year, the business posted $2.01 EPS. On average, analysts predict that Comerica will post 4.98 EPS for the current year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 5.54%. The ex-dividend date is Friday, September 13th. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Hedge Funds Weigh In On Comerica

Several hedge funds have recently modified their holdings of CMA. Spire Wealth Management boosted its stake in shares of Comerica by 95.9% during the 4th quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 235 shares in the last quarter. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Comerica during the 4th quarter worth $36,000. Family Firm Inc. bought a new stake in shares of Comerica during the 2nd quarter worth $37,000. Versant Capital Management Inc boosted its stake 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 worth $43,000 after acquiring an additional 817 shares in the last quarter. Finally, Abich Financial Wealth Management LLC boosted its stake 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 worth $49,000 after acquiring an additional 300 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.