Comerica (NYSE:CMA) Upgraded to Hold by StockNews.com

Comerica (NYSE:CMA) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Monday.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada cut their target price on Comerica from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Stephens reaffirmed an “overweight” rating and set a $58.00 price objective on shares of Comerica in a research report on Tuesday, September 10th. The Goldman Sachs Group dropped their target price on shares of Comerica from $69.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Robert W. Baird reduced their price target on shares of Comerica from $72.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. Finally, DA Davidson reiterated a “neutral” rating and set a $55.00 price objective on shares of Comerica in a report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Comerica presently has an average rating of “Hold” and an average target price of $55.73.

Comerica Trading Up 0.9 %

Shares of NYSE CMA traded up $0.51 during midday trading on Monday, reaching $58.00. The stock had a trading volume of 1,076,118 shares, compared to its average volume of 2,183,460. The company’s 50 day moving average price is $54.71 and its 200 day moving average price is $52.40. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. Comerica has a twelve month low of $37.40 and a twelve month high of $58.50. The firm has a market cap of $7.69 billion, a price-to-earnings ratio of 11.53 and a beta of 1.23.

Comerica (NYSE:CMA) last released its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.30. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $812.79 million. During the same quarter in the previous year, the business earned $2.01 earnings per share. As a group, sell-side analysts expect that Comerica will post 5.05 EPS for the current year.

Insider Activity at Comerica

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at $1,605,104.10. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.19% of the stock is owned by company insiders.

Hedge Funds Weigh In On Comerica

Large investors have recently modified their holdings of the business. Pitcairn Co. boosted its holdings in Comerica by 2.9% in the 1st quarter. Pitcairn Co. now owns 6,800 shares of the financial services provider’s stock worth $374,000 after buying an additional 190 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of 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 acquiring an additional 199 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in shares of Comerica by 0.7% in the first quarter. Texas Permanent School Fund Corp now owns 27,245 shares of the financial services provider’s stock worth $1,498,000 after acquiring an additional 201 shares during the period. Summit Securities Group LLC grew its position in shares of Comerica by 22.4% in the second quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 202 shares in the last quarter. Finally, UMB Bank n.a. raised its stake 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 purchasing an additional 208 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.