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 report released on Monday.

CMA has been the topic of several other reports. UBS Group decreased their price target on Comerica from $59.00 to $55.00 and set a neutral rating on the stock in a research report on Friday, April 19th. Jefferies Financial Group decreased their price objective on shares of Comerica from $65.00 to $60.00 and set a buy rating on the stock in a research report on Monday, April 8th. 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 report on Tuesday, July 2nd. Royal Bank of Canada decreased 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. Finally, Piper Sandler upped their price objective on shares of Comerica from $51.00 to $52.00 and gave the stock a neutral rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Comerica currently has a consensus rating of Hold and a consensus target price of $54.95.

Comerica Trading Up 3.0 %

Shares of Comerica stock opened at $52.82 on Monday. The stock’s 50-day simple moving average is $50.62 and its 200 day simple moving average is $51.66. Comerica has a 52-week low of $37.40 and a 52-week high of $58.50. The stock has a market capitalization of $7.00 billion, a P/E ratio of 10.50 and a beta of 1.25. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.95 and a current ratio of 0.96.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.30. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $812.79 million. During the same period in the prior year, the business posted $2.01 earnings per share. As a group, research analysts anticipate that Comerica will post 5.03 EPS for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.38%. The ex-dividend date is Friday, September 13th. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Institutional Trading of Comerica

A number of institutional investors have recently made changes to their positions in CMA. Spire Wealth Management boosted its stake in shares of Comerica by 95.9% during the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 235 shares during the period. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Comerica during the fourth quarter valued at approximately $36,000. Family Firm Inc. purchased a new stake in shares of Comerica during the second quarter valued at approximately $37,000. Versant Capital Management Inc boosted its stake in shares of Comerica by 2,723.3% during the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 817 shares during the period. Finally, Abich Financial Wealth Management LLC boosted its stake in shares of Comerica by 50.2% during the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 300 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

About Comerica

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.