Comerica (NYSE:CMA) Cut to Sell at StockNews.com

StockNews.com lowered shares of Comerica (NYSE:CMA) from a hold rating to a sell rating in a report issued on Tuesday morning.

Several other research analysts have also recently weighed in on the stock. Wells Fargo & Company dropped their price target on shares of Comerica from $48.00 to $45.00 and set an underweight rating on the stock in a research note on Wednesday, June 12th. Piper Sandler boosted their price target on Comerica from $51.00 to $52.00 and gave the company a neutral rating in a report on Monday, July 22nd. Morgan Stanley raised their price objective on Comerica from $50.00 to $61.00 and gave the stock an equal weight rating in a research note on Monday, August 5th. Truist Financial boosted their price objective on Comerica from $53.00 to $66.00 and gave the company a hold rating in a research note on Friday, September 20th. Finally, Barclays decreased their target price on shares of Comerica from $59.00 to $56.00 and set an underweight rating on the stock in a research note on Monday, July 22nd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Hold and an average target price of $58.24.

Comerica Stock Down 0.1 %

Comerica stock opened at $59.39 on Tuesday. The stock has a market cap of $7.87 billion, a PE ratio of 11.81 and a beta of 1.23. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a fifty day moving average of $55.64 and a 200 day moving average of $52.92. Comerica has a one year low of $37.40 and a one year high of $61.84.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.30. The firm 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 quarter in the prior year, the business earned $2.01 EPS. As a group, sell-side analysts predict that Comerica will post 5.06 EPS for the current year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be given a $0.71 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.84 annualized dividend and a yield of 4.78%. Comerica’s dividend payout ratio is currently 56.46%.

Insiders Place Their Bets

In other news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Comerica

Several institutional investors have recently made changes to their positions in CMA. Price T Rowe Associates Inc. MD lifted its stake in Comerica by 105.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 182,402 shares of the financial services provider’s stock worth $10,031,000 after purchasing an additional 3,595,036 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Comerica by 51.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock worth $206,468,000 after acquiring an additional 1,370,886 shares during the last quarter. Azora Capital LP purchased a new position in Comerica during the 4th quarter valued at $63,548,000. Goldman Sachs Group Inc. boosted its holdings in Comerica by 51.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock valued at $143,109,000 after acquiring an additional 870,812 shares during the period. Finally, Samlyn Capital LLC bought a new position in Comerica in the 2nd quarter valued at $35,375,000. 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.