TheStreet Downgrades Comerica (NYSE:CMA) to C+

Comerica (NYSE:CMA – Get Rating) was downgraded by equities research analysts at TheStreet from a “b” rating to a “c+” rating in a report issued on Friday, TheStreetRatingsTable reports.

CMA has been the topic of a number of other research reports. B. Riley reduced their price objective on shares of Comerica from $95.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, April 21st. Raymond James cut Comerica from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 21st. Truist Financial increased their price target on Comerica from $98.00 to $118.00 in a report on Thursday, January 20th. Wedbush lifted their price objective on Comerica from $94.00 to $102.00 and gave the stock an “outperform” rating in a research note on Thursday, January 20th. Finally, The Goldman Sachs Group upgraded shares of Comerica from a “sell” rating to a “neutral” rating and upped their target price for the company from $102.00 to $112.00 in a research note on Friday, April 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $101.95.

CMA opened at $75.37 on Friday. The company has a market capitalization of $9.86 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 1.70 and a beta of 1.33. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.88 and a quick ratio of 0.88. Comerica has a fifty-two week low of $63.07 and a fifty-two week high of $102.09. The business has a 50-day moving average of $87.43 and a 200-day moving average of $89.62.

Comerica (NYSE:CMA – Get Rating) last released its quarterly earnings data on Wednesday, April 20th. The financial services provider reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). The firm had revenue of $700.00 million during the quarter, compared to analyst estimates of $725.36 million. Comerica had a return on equity of 13.85% and a net margin of 33.48%. During the same quarter in the prior year, the company posted $2.43 EPS. On average, equities research analysts expect that Comerica will post 7.24 earnings per share for the current fiscal year.

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

Hedge funds and other institutional investors have recently made changes to their positions in the company. Concord Wealth Partners increased its holdings in Comerica by 191.8% during the 4th quarter. Concord Wealth Partners now owns 286 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 188 shares in the last quarter. Quent Capital LLC lifted its stake in Comerica by 292.3% in the first quarter. Quent Capital LLC now owns 306 shares of the financial services provider’s stock valued at $28,000 after purchasing an additional 228 shares during the last quarter. Tcwp LLC bought a new position in shares of Comerica during the 1st quarter worth $30,000. Kings Point Capital Management bought a new position in Comerica during the third quarter worth about $32,000. Finally, Hexagon Capital Partners LLC bought a new position in Comerica in the 4th quarter worth approximately $35,000. Hedge funds and other institutional investors own 80.14% of the company’s stock.

Comerica Company Profile (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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