Comerica (NYSE:CMA) Downgraded by StockNews.com

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

Other equities analysts have also issued reports about the company. Stephens reissued an overweight rating and set a $58.00 price objective on shares of Comerica in a report on Tuesday, September 10th. JPMorgan Chase & Co. increased their target price on shares of Comerica from $57.00 to $65.00 and gave the stock a neutral rating in a report on Wednesday, October 9th. Morgan Stanley raised their target price on Comerica from $61.00 to $63.00 and gave the company an equal weight rating in a research note on Monday, September 30th. Raymond James raised Comerica from a market perform rating to an outperform rating and set a $60.00 price target for the company in a research report on Tuesday, July 2nd. Finally, Evercore ISI increased their price objective on shares of Comerica from $58.00 to $64.00 and gave the company an in-line rating in a research report on Wednesday, October 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $59.62.

Comerica Trading Up 0.1 %

Comerica stock opened at $61.32 on Friday. The company has a market cap of $8.13 billion, a price-to-earnings ratio of 12.19 and a beta of 1.23. 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 firm has a 50-day moving average of $57.09 and a 200-day moving average of $53.52. Comerica has a one year low of $37.40 and a one year high of $61.84.

Comerica (NYSE:CMA) last posted its earnings results 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 net margin of 12.15% and a return on equity of 15.01%. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $812.79 million. During the same quarter in the prior year, the business earned $2.01 earnings per share. On average, equities analysts expect that Comerica will post 5.12 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date was Friday, September 13th. Comerica’s dividend payout ratio is currently 56.46%.

Insider Activity

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the transaction, the executive vice president now owns 27,910 shares in the company, valued at $1,605,104.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Comerica by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock worth $941,968,000 after acquiring an additional 676,959 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of Comerica by 51.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock worth $206,468,000 after purchasing an additional 1,370,886 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Comerica by 51.4% in the fourth 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 in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in Comerica by 1.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,834,304 shares of the financial services provider’s stock worth $93,621,000 after purchasing an additional 19,068 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in Comerica by 9.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,857 shares of the financial services provider’s stock valued at $78,288,000 after buying an additional 130,458 shares in the last quarter. Institutional investors and hedge funds 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.