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 issued to investors on Tuesday, MarketBeat reports. Wedbush currently has $75.00 target price on the financial services provider’s stock, up from their previous target price 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, Q1 2026 earnings at $1.54 EPS, Q2 2026 earnings at $1.64 EPS and FY2026 earnings at $6.70 EPS.

A number of other brokerages have also issued reports on CMA. Wells Fargo & Company dropped their target price on Comerica from $48.00 to $45.00 and set an underweight rating on the stock in a research report on Wednesday, June 12th. Barclays lowered their price objective on Comerica from $59.00 to $56.00 and set an underweight rating for the company in a report on Monday, July 22nd. Piper Sandler boosted their price objective on Comerica from $51.00 to $52.00 and gave the company a neutral rating in a report on Monday, July 22nd. Truist Financial boosted their price objective on Comerica from $53.00 to $66.00 and gave the company a hold rating in a report on Friday, September 20th. Finally, Raymond James raised Comerica from a market perform rating to an outperform rating and set a $60.00 price objective for the company in a report on Tuesday, July 2nd. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Hold and an average target price of $58.24.

Comerica Trading Down 0.1 %

Shares of CMA opened at $59.39 on Tuesday. The stock’s 50-day moving average is $55.64 and its two-hundred day moving average is $52.92. The stock has a market cap of $7.87 billion, a PE ratio of 11.81 and a beta of 1.23. Comerica has a 12 month low of $37.40 and a 12 month high of $61.84. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96.

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. The company had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $812.79 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same quarter in the previous year, the firm posted $2.01 earnings per share. Equities analysts forecast that Comerica will post 5.06 earnings per share for the current fiscal year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date of this dividend is Friday, September 13th. Comerica’s dividend payout ratio is presently 56.46%.

Insider Activity

In related news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value 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 approximately $1,605,104.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bluefin Capital Management LLC acquired a new stake in shares of Comerica during the 2nd quarter worth approximately $245,000. Sanctuary Advisors LLC bought a new position in Comerica during the second quarter worth $449,000. Teachers Retirement System of The State of Kentucky raised its stake in Comerica by 200.9% during the second 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 buying an additional 21,631 shares during the last quarter. LHM Inc. raised its stake in Comerica by 45.3% during the second quarter. LHM Inc. now owns 43,740 shares of the financial services provider’s stock worth $2,264,000 after buying an additional 13,640 shares during the last quarter. Finally, Truist Financial Corp acquired a new stake in Comerica in the second quarter worth $318,000. Institutional investors and hedge funds 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.