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

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

A number of other equities analysts have also recently issued reports on the stock. Royal Bank of Canada decreased their price objective on shares of Comerica from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. The Goldman Sachs Group cut their price objective on Comerica from $69.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Raymond James upgraded Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a report on Tuesday, July 2nd. Evercore ISI cut their price target on shares of Comerica from $58.00 to $54.00 and set an “in-line” rating on the stock in a report on Tuesday, June 25th. Finally, Morgan Stanley upped their price objective on shares of Comerica from $50.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $56.32.

Comerica Trading Down 2.1 %

NYSE CMA opened at $60.19 on Tuesday. The stock has a 50-day moving average of $55.31 and a 200-day moving average of $52.72. 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 1-year low of $37.40 and a 1-year high of $61.84. The firm has a market cap of $7.98 billion, a PE ratio of 11.97 and a beta of 1.23.

Comerica (NYSE:CMA) last released its quarterly earnings data 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 firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $812.79 million. During the same quarter in the prior year, the firm posted $2.01 earnings per share. As a group, sell-side analysts forecast that Comerica will post 5.05 EPS for the current year.

Insider Buying and Selling at Comerica

In other news, EVP Christine M. Moore sold 2,545 shares of the company’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 transaction, the executive vice president now owns 27,910 shares in the company, valued at $1,605,104.10. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.19% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. raised its position in Comerica by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock worth $941,968,000 after buying an additional 676,959 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Comerica by 51.3% during the second 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. Goldman Sachs Group Inc. lifted its position in Comerica by 51.4% during 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 purchasing an additional 870,812 shares during the period. Vaughan Nelson Investment Management L.P. boosted 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 during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Comerica by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,857 shares of the financial services provider’s stock worth $78,288,000 after purchasing an additional 130,458 shares during the period. 80.74% of the stock is owned by institutional investors.

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.