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

Comerica (NYSE:CMAGet Rating) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.

CMA has been the subject of a number of other reports. DA Davidson lifted their price objective on shares of Comerica from $103.00 to $115.00 in a report on Thursday, January 20th. Truist Financial boosted their price target on shares of Comerica from $98.00 to $118.00 in a report on Thursday, January 20th. Jefferies Financial Group upgraded shares of Comerica from a “hold” rating to a “buy” rating and boosted their price target for the stock from $98.00 to $114.00 in a report on Monday, February 14th. Royal Bank of Canada cut their price target on shares of Comerica from $114.00 to $110.00 and set an “outperform” rating on the stock in a report on Thursday, April 21st. Finally, Raymond James cut shares of Comerica from an “outperform” rating to a “market perform” rating in a report on Thursday, April 21st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, Comerica has a consensus rating of “Hold” and an average price target of $101.95.

NYSE:CMA opened at $78.74 on Tuesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $10.30 billion, a price-to-earnings ratio of 10.86, a PEG ratio of 1.52 and a beta of 1.33. The firm has a fifty day simple moving average of $88.73 and a two-hundred day simple moving average of $89.97. Comerica has a 12 month low of $63.07 and a 12 month high of $102.09.

Comerica (NYSE:CMAGet Rating) last issued its quarterly earnings data on Wednesday, April 20th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). Comerica had a net margin of 33.48% and a return on equity of 13.85%. During the same quarter last year, the firm earned $2.43 EPS. Equities analysts predict that Comerica will post 7.19 earnings per share for the current fiscal year.

In other news, EVP Wendy Bridges sold 1,100 shares of the business’s stock in a transaction that occurred on Thursday, March 3rd. The shares were sold at an average price of $93.78, for a total value of $103,158.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.76% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its stake in Comerica by 1.0% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,556,899 shares of the financial services provider’s stock valued at $125,331,000 after acquiring an additional 14,887 shares in the last quarter. CWM LLC purchased a new position in Comerica during the fourth quarter valued at approximately $67,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Comerica by 16.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,129 shares of the financial services provider’s stock valued at $1,403,000 after acquiring an additional 2,226 shares in the last quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. grew its stake in Comerica by 883.3% during the fourth quarter. Mitsubishi UFJ Morgan Stanley Securities Co. Ltd. now owns 590 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 530 shares in the last quarter. Finally, Eagle Asset Management Inc. grew its stake in Comerica by 21.9% during the third quarter. Eagle Asset Management Inc. now owns 138,538 shares of the financial services provider’s stock valued at $11,152,000 after acquiring an additional 24,892 shares in the last quarter. 80.14% of the stock is currently owned by institutional investors.

About Comerica (Get Rating)

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It 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, 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.

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Analyst Recommendations for Comerica (NYSE:CMA)

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