Comerica Incorporated (NYSE:CMA) Given Consensus Recommendation of “Hold” by Brokerages

Comerica Incorporated (NYSE:CMA) has been given an average rating of “Hold” by the twenty-three ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $74.55.

CMA has been the subject of several recent analyst reports. TD Cowen initiated coverage on shares of Comerica in a report on Thursday, September 25th. They set a “hold” rating and a $75.00 price objective for the company. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $93.00 price objective (up previously from $73.00) on shares of Comerica in a report on Friday, October 10th. Morgan Stanley raised shares of Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 price objective for the company in a report on Tuesday, October 7th. Piper Sandler set a $82.00 price objective on shares of Comerica and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Finally, Raymond James Financial reissued a “market perform” rating on shares of Comerica in a report on Tuesday, July 8th.

Comerica Stock Performance

NYSE:CMA opened at $76.63 on Tuesday. The firm has a market capitalization of $9.79 billion, a PE ratio of 14.62 and a beta of 0.96. The firm has a 50-day moving average price of $72.79 and a 200 day moving average price of $64.65. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. Comerica has a 12-month low of $48.12 and a 12-month high of $83.22.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Monday, December 9th. The financial services provider reported $1.53 earnings per share for the quarter. The company had revenue of $824.00 million during the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. Research analysts anticipate that Comerica will post 5.28 earnings per share for the current fiscal year.

Insider Transactions at Comerica

In related news, EVP Allysun C. Fleming sold 2,100 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $67.03, for a total value of $140,763.00. Following the completion of the sale, the executive vice president owned 9,424 shares of the company’s stock, valued at $631,690.72. This trade represents a 18.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider James Mcgregor Carr sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $67.28, for a total transaction of $269,120.00. Following the completion of the sale, the insider directly owned 33,471 shares of the company’s stock, valued at approximately $2,251,928.88. This represents a 10.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Comerica

A number of hedge funds and other institutional investors have recently modified their holdings of CMA. Oppenheimer & Co. Inc. increased its holdings in shares of Comerica by 12.2% in the first quarter. Oppenheimer & Co. Inc. now owns 5,043 shares of the financial services provider’s stock valued at $298,000 after purchasing an additional 547 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Comerica by 3.8% in the first quarter. Bessemer Group Inc. now owns 11,273 shares of the financial services provider’s stock valued at $666,000 after purchasing an additional 414 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Comerica by 11.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 107,173 shares of the financial services provider’s stock valued at $6,293,000 after purchasing an additional 11,148 shares in the last quarter. MorganRosel Wealth Management LLC acquired a new stake in shares of Comerica in the first quarter valued at approximately $33,000. Finally, Principal Financial Group Inc. increased its holdings in shares of Comerica by 0.3% in the first quarter. Principal Financial Group Inc. now owns 302,409 shares of the financial services provider’s stock valued at $17,860,000 after purchasing an additional 821 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.