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

Comerica (NYSE:CMA) was downgraded by investment analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.

A number of other analysts have also recently issued reports on CMA. Royal Bank of Canada cut their target price on shares of Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Wells Fargo & Company decreased their target price on Comerica from $48.00 to $45.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 12th. Morgan Stanley lifted their price target on Comerica from $50.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Robert W. Baird cut their price target on Comerica from $72.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th. Finally, Barclays lowered their price objective on Comerica from $59.00 to $56.00 and set an “underweight” rating on the stock in a research note on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Comerica currently has an average rating of “Hold” and an average price target of $56.05.

Comerica Price Performance

Shares of NYSE CMA opened at $54.87 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. The business’s 50 day moving average price is $53.94 and its two-hundred day moving average price is $52.06. The company has a market cap of $7.28 billion, a PE ratio of 10.91 and a beta of 1.23. Comerica has a twelve month low of $37.40 and a twelve month high of $58.50.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, beating 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 business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $812.79 million. During the same quarter in the prior year, the business earned $2.01 EPS. On average, analysts predict that Comerica will post 5.05 EPS for the current year.

Insiders Place Their Bets

In related news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were 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 in the company, valued at approximately $1,605,104.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of CMA. Vanguard Group Inc. increased its stake in shares of Comerica by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock valued at $941,968,000 after buying an additional 676,959 shares during the period. Dimensional Fund Advisors LP increased its position in 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 valued at $206,468,000 after purchasing an additional 1,370,886 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Comerica by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,343,131 shares of the financial services provider’s stock worth $186,580,000 after purchasing an additional 48,526 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Comerica by 51.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock worth $143,109,000 after purchasing an additional 870,812 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Comerica by 1.1% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,834,304 shares of the financial services provider’s stock valued at $93,621,000 after purchasing an additional 19,068 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

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.