Comerica (NYSE:CMA) Given Overweight Rating at Stephens

Comerica (NYSE:CMA)‘s stock had its “overweight” rating restated by equities research analysts at Stephens in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $58.00 target price on the financial services provider’s stock. Stephens’ target price suggests a potential upside of 1.08% from the company’s previous close.

Several other brokerages also recently issued reports on CMA. The Goldman Sachs Group cut their target price on shares of Comerica from $69.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, June 4th. Wells Fargo & Company cut their target price on Comerica from $48.00 to $45.00 and set an “underweight” rating on the stock in a report on Wednesday, June 12th. Barclays reduced their price target on Comerica from $59.00 to $56.00 and set an “underweight” rating for the company in a research report on Monday, July 22nd. Royal Bank of Canada cut their price objective on Comerica from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Finally, StockNews.com cut Comerica from a “hold” rating to a “sell” rating in a research report on Friday. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $55.73.

Comerica Price Performance

Shares of Comerica stock traded up $1.94 on Tuesday, hitting $57.38. The company had a trading volume of 189,064 shares, compared to its average volume of 2,175,163. Comerica has a 52 week low of $37.40 and a 52 week high of $58.50. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $7.61 billion, a PE ratio of 11.41 and a beta of 1.23. The business has a 50-day simple moving average of $54.03 and a 200-day simple moving average of $52.11.

Comerica (NYSE:CMA) last posted 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. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $812.79 million. During the same quarter in the previous year, the business earned $2.01 EPS. Research analysts expect that Comerica will post 5.05 EPS for the current fiscal year.

Insider Activity

In other news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total value of $146,362.95. Following the completion of the sale, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by insiders.

Institutional Trading of Comerica

A number of institutional investors have recently bought and sold shares of the business. Sanctuary Advisors LLC acquired a new stake in shares of Comerica during the second quarter worth $449,000. Teachers Retirement System of The State of Kentucky increased its stake in Comerica by 200.9% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 32,400 shares of the financial services provider’s stock valued at $1,654,000 after purchasing an additional 21,631 shares in the last quarter. LHM Inc. increased its stake in Comerica by 45.3% in the second quarter. LHM Inc. now owns 43,740 shares of the financial services provider’s stock valued at $2,264,000 after purchasing an additional 13,640 shares in the last quarter. Truist Financial Corp bought a new position in shares of Comerica during the second quarter worth $318,000. Finally, Sunbelt Securities Inc. increased its position in shares of Comerica by 400.0% in the 2nd quarter. Sunbelt Securities Inc. now owns 2,500 shares of the financial services provider’s stock valued at $128,000 after buying an additional 2,000 shares in the last quarter. 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.