Comerica (NYSE:CMA) Receives "Buy (B-)" Rating from Weiss Ratings

Key Points

• Comerica's stock has been rated as "Buy (B-)" by Weiss Ratings, while various analysts have set target prices ranging from $60.00 to $85.00 with the consensus rating currently at "Hold" and an average target price of $69.50.
• Despite the positive rating, Comerica's stock price dipped 0.3% to $79.80, with a trading volume significantly above its average, indicating volatility in market interest.
• Comerica reported earnings of $1.42 EPS, surpassing estimates, while facing a year-to-date low of $48.12 and a high of $83.22, highlighting its fluctuating performance.

Comerica (NYSE:CMA - Get Free Report)'s stock had its "buy (b-)" rating restated by equities researchers at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

CMA has been the subject of several other reports. UBS Group set a $64.00 price target on shares of Comerica and gave the company a "neutral" rating in a report on Monday, July 21st. Jefferies Financial Group upped their target price on shares of Comerica from $75.00 to $85.00 and gave the stock a "hold" rating in a research report on Tuesday. Cantor Fitzgerald initiated coverage on shares of Comerica in a research report on Wednesday, September 10th. They issued a "neutral" rating and a $72.00 target price for the company. DA Davidson set a $60.00 target price on shares of Comerica and gave the stock a "neutral" rating in a research report on Monday, July 21st. Finally, Truist Financial upped their target price on shares of Comerica from $68.00 to $70.00 and gave the stock a "hold" rating in a research report on Friday, September 12th. Five analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $69.50.

Comerica Stock Down 0.3%

CMA stock traded down $0.25 during trading on Wednesday, reaching $79.80. The stock had a trading volume of 6,459,014 shares, compared to its average volume of 2,933,238. Comerica has a one year low of $48.12 and a one year high of $83.22. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.84. The company's 50 day moving average is $69.49 and its two-hundred day moving average is $61.94. The company has a market capitalization of $10.26 billion, a price-to-earnings ratio of 15.29, a P/E/G ratio of 14.34 and a beta of 0.96.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.19. Comerica had a net margin of 14.92% and a return on equity of 10.92%. The business had revenue of $849.00 million during the quarter, compared to the consensus estimate of $844.39 million. During the same period in the prior year, the firm posted $1.49 EPS. Equities research analysts forecast that Comerica will post 5.28 EPS for the current year.

Insider Activity

In other Comerica news, insider James Mcgregor Carr sold 4,000 shares of Comerica stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $67.28, for a total value of $269,120.00. Following the completion of the transaction, the insider directly owned 33,471 shares of the company's stock, valued at approximately $2,251,928.88. The trade was a 10.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Allysun C. Fleming sold 2,100 shares of the business'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 transaction of $140,763.00. Following the transaction, the executive vice president directly owned 9,424 shares of the company's stock, valued at $631,690.72. The trade was a 18.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.19% of the company's stock.

Hedge Funds Weigh In On Comerica

A number of hedge funds have recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its position in shares of Comerica by 52.8% during the third quarter. Assenagon Asset Management S.A. now owns 508,689 shares of the financial services provider's stock worth $34,855,000 after acquiring an additional 175,826 shares during the last quarter. Gradient Investments LLC boosted its position in shares of Comerica by 12.5% during the third quarter. Gradient Investments LLC now owns 5,656 shares of the financial services provider's stock worth $388,000 after acquiring an additional 629 shares during the last quarter. Venture Visionary Partners LLC bought a new position in shares of Comerica during the third quarter worth $206,000. GAMMA Investing LLC boosted its position in shares of Comerica by 8.2% during the third quarter. GAMMA Investing LLC now owns 6,042 shares of the financial services provider's stock worth $414,000 after acquiring an additional 458 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its position in shares of Comerica by 4.0% during the second quarter. Corient Private Wealth LLC now owns 48,532 shares of the financial services provider's stock worth $2,895,000 after acquiring an additional 1,857 shares during the last quarter. 80.74% of the stock is currently 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.

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