Comerica (NYSE:CMA) Lowered to Neutral at Citigroup

Comerica (NYSE:CMA) was downgraded by stock analysts at Citigroup from a “buy” rating to a “neutral” rating in a report issued on Monday, MarketBeat Ratings reports. They presently have a $56.00 target price on the financial services provider’s stock. Citigroup’s price target would suggest a potential upside of 5.52% from the stock’s current price.

Other equities research analysts also recently issued reports about the stock. Truist Financial reduced their price target on shares of Comerica from $62.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Jefferies Financial Group reduced their price target on shares of Comerica from $65.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, April 8th. Piper Sandler upped their target price on shares of Comerica from $54.00 to $56.00 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Evercore ISI upped their target price on shares of Comerica from $55.00 to $58.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $56.00 target price on shares of Comerica in a research note on Wednesday, March 6th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $56.89.

Comerica Price Performance

Comerica stock opened at $53.07 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26. The company has a 50-day moving average price of $51.69 and a 200 day moving average price of $50.12. Comerica has a 12-month low of $28.40 and a 12-month high of $57.39. The stock has a market cap of $7.04 billion, a P/E ratio of 10.55 and a beta of 1.27.

Comerica (NYSE:CMA) last posted its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.16. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same period in the previous year, the business posted $2.39 EPS. Sell-side analysts anticipate that Comerica will post 5.16 earnings per share for the current year.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the transaction, the executive vice president now directly owns 17,460 shares in the company, valued at approximately $920,840.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the sale, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Cassandra M. Mckinney sold 7,271 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total transaction of $382,381.89. Following the sale, the executive vice president now directly owns 7,236 shares in the company, valued at $380,541.24. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Comerica

Several hedge funds have recently modified their holdings of CMA. Spire Wealth Management boosted its position in shares of Comerica by 95.9% in the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock worth $25,000 after acquiring an additional 235 shares during the last quarter. Fortitude Family Office LLC acquired a new stake in shares of Comerica in the fourth quarter worth approximately $36,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Comerica in the fourth quarter worth approximately $36,000. Authentikos Wealth Advisory LLC acquired a new stake in shares of Comerica in the third quarter worth approximately $47,000. Finally, FNY Investment Advisers LLC acquired a new stake in shares of Comerica in the fourth quarter worth approximately $50,000. 80.74% of the stock is owned by institutional investors and hedge funds.

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.