Comerica (NYSE:CMA) Rating Lowered to Hold at Odeon Capital Group

Comerica (NYSE:CMA – Get Rating) was downgraded by Odeon Capital Group from a “buy” rating to a “hold” rating in a report released on Monday, MarketBeat reports.

Other analysts have also recently issued reports about the company. Piper Sandler reduced their target price on Comerica from $82.00 to $70.00 in a report on Friday, March 10th. Raymond James cut their price target on shares of Comerica from $85.00 to $84.00 and set an “outperform” rating on the stock in a report on Friday, January 20th. DA Davidson boosted their price target on shares of Comerica from $80.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, January 20th. The Goldman Sachs Group upped their price objective on shares of Comerica from $75.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, January 23rd. Finally, Truist Financial lowered their price target on shares of Comerica from $83.00 to $78.00 and set a “buy” rating on the stock in a report on Monday, January 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $82.79.

Comerica Trading Up 3.9 %

Shares of Comerica stock opened at $43.50 on Monday. The firm has a 50-day moving average of $69.98 and a 200-day moving average of $71.27. The stock has a market cap of $5.71 billion, a PE ratio of 5.40, a PEG ratio of 1.87 and a beta of 1.20. Comerica has a 52-week low of $29.17 and a 52-week high of $97.52. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.85.

Comerica (NYSE:CMA – Get Rating) last posted its quarterly earnings data on Thursday, January 19th. The financial services provider reported $2.58 earnings per share for the quarter, topping the consensus estimate of $2.56 by $0.02. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Comerica had a net margin of 30.72% and a return on equity of 20.75%. During the same quarter in the prior year, the business posted $1.66 earnings per share. As a group, sell-side analysts forecast that Comerica will post 9.57 EPS for the current year.

Insider Activity at Comerica

In other news, EVP Cassandra M. Mckinney sold 3,262 shares of the stock in a transaction on Friday, January 27th. The stock was sold at an average price of $72.76, for a total value of $237,343.12. Following the sale, the executive vice president now directly owns 6,825 shares in the company, valued at $496,587. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.76% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Comerica

Hedge funds and other institutional investors have recently modified their holdings of the stock. Affinity Investment Advisors LLC increased its stake in Comerica by 1.1% in the 3rd quarter. Affinity Investment Advisors LLC now owns 12,969 shares of the financial services provider’s stock valued at $922,000 after buying an additional 141 shares during the period. Quadrant Capital Group LLC boosted its holdings in Comerica by 8.5% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,999 shares of the financial services provider’s stock valued at $142,000 after purchasing an additional 156 shares during the period. Huntington National Bank boosted its holdings in Comerica by 5.7% in the 3rd quarter. Huntington National Bank now owns 3,177 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 170 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of Comerica by 0.9% during the 4th quarter. State of Alaska Department of Revenue now owns 18,328 shares of the financial services provider’s stock worth $1,225,000 after acquiring an additional 170 shares during the period. Finally, IFP Advisors Inc lifted its holdings in shares of Comerica by 10.4% during the 3rd quarter. IFP Advisors Inc now owns 1,928 shares of the financial services provider’s stock worth $196,000 after acquiring an additional 182 shares during the period. 81.91% of the stock is currently owned by institutional investors and hedge funds.

About Comerica

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Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance, and Other. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services.