Comerica (NYSE:CMA) Upgraded at StockNews.com

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

Several other equities analysts also recently commented on the stock. 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 report on Tuesday, July 2nd. Evercore ISI lowered their price target on shares of Comerica from $58.00 to $54.00 and set an in-line rating on the stock in a report on Tuesday, June 25th. JPMorgan Chase & Co. reduced their price objective on Comerica from $62.00 to $57.00 and set a neutral rating for the company in a report on Thursday, June 27th. Truist Financial lowered Comerica from a buy rating to a hold rating and lowered their target price for the stock from $55.00 to $53.00 in a research note on Monday, July 22nd. Finally, The Goldman Sachs Group reduced their price target on Comerica from $69.00 to $62.00 and set a buy rating for the company in a research note on Tuesday, June 4th. Two equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and an average target price of $55.73.

Comerica Stock Up 0.9 %

Shares of CMA stock opened at $58.00 on Monday. Comerica has a 52-week low of $37.40 and a 52-week high of $58.50. The stock has a market cap of $7.69 billion, a price-to-earnings ratio of 11.53 and a beta of 1.23. The firm’s 50-day moving average is $54.71 and its 200-day moving average 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 (NYSE:CMA) last released its quarterly earnings data 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 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 analyst estimates of $812.79 million. During the same quarter in the prior year, the company earned $2.01 earnings per share. Sell-side analysts predict that Comerica will post 5.05 EPS for the current year.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 4.90%. The ex-dividend date is Friday, September 13th. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Insider Transactions at Comerica

In related news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were 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 in the company, valued at approximately $1,605,104.10. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CMA. Vanguard Group Inc. grew its position in Comerica by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock worth $941,968,000 after acquiring an additional 676,959 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Comerica by 51.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock valued at $206,468,000 after buying an additional 1,370,886 shares during the period. Goldman Sachs Group Inc. raised its holdings in Comerica by 51.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock valued at $143,109,000 after buying an additional 870,812 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its position in Comerica by 1.1% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,834,304 shares of the financial services provider’s stock worth $93,621,000 after buying an additional 19,068 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Comerica by 9.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,857 shares of the financial services provider’s stock worth $78,288,000 after acquiring an additional 130,458 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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.