Comerica (NYSE:CMA) Downgraded by StockNews.com

StockNews.com downgraded shares of Comerica (NYSE:CMA) from a hold rating to a sell rating in a research report sent to investors on Tuesday.

Other analysts also recently issued reports about the stock. Keefe, Bruyette & Woods raised shares of Comerica from a market perform rating to an outperform rating and boosted their price target for the stock from $50.00 to $69.00 in a research note on Thursday, September 5th. Barclays reduced their price target on Comerica from $59.00 to $56.00 and set an underweight rating on the stock in a research report on Monday, July 22nd. JPMorgan Chase & Co. lowered their price objective on Comerica from $62.00 to $57.00 and set a neutral rating for the company in a research report on Thursday, June 27th. The Goldman Sachs Group decreased 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. Finally, Evercore ISI dropped their price target on shares of Comerica from $58.00 to $54.00 and set an in-line rating for the company in a research report on Tuesday, June 25th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Hold and an average price target of $58.24.

Comerica Price Performance

Shares of Comerica stock opened at $59.39 on Tuesday. The firm has a market capitalization of $7.87 billion, a PE ratio of 11.81 and a beta of 1.23. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. Comerica has a 12 month low of $37.40 and a 12 month high of $61.84. The business’s 50-day moving average price is $55.64 and its 200-day moving average price is $52.92.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $812.79 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same period last year, the business earned $2.01 earnings per share. Sell-side analysts forecast that Comerica will post 5.06 EPS for the current fiscal year.

Comerica Announces Dividend

The business 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 $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 4.78%. The ex-dividend date of this dividend is Friday, September 13th. Comerica’s dividend payout ratio (DPR) is 56.46%.

Insider Transactions at Comerica

In other news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction dated 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 transaction, the executive vice president now 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 SEC, which is available through the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

Several institutional investors and hedge funds have recently made changes to their positions in CMA. Principal Financial Group Inc. increased its holdings in shares of Comerica by 2.1% in the 4th quarter. Principal Financial Group Inc. now owns 159,385 shares of the financial services provider’s stock worth $8,895,000 after purchasing an additional 3,227 shares in the last quarter. UBS Group AG raised its position in Comerica by 46.8% in the 4th quarter. UBS Group AG now owns 164,987 shares of the financial services provider’s stock worth $9,208,000 after buying an additional 52,569 shares during the last quarter. Corient Private Wealth LLC raised its position in Comerica by 12.9% in the 4th quarter. Corient Private Wealth LLC now owns 41,197 shares of the financial services provider’s stock worth $2,299,000 after buying an additional 4,715 shares during the last quarter. Commerce Bank lifted its stake in Comerica by 5.7% during the 4th quarter. Commerce Bank now owns 12,063 shares of the financial services provider’s stock valued at $673,000 after acquiring an additional 646 shares during the period. Finally, Advisory Services Network LLC boosted its holdings in shares of Comerica by 33.7% during the 4th quarter. Advisory Services Network LLC now owns 7,575 shares of the financial services provider’s stock valued at $423,000 after acquiring an additional 1,908 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Comerica Company Profile

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.