Keefe, Bruyette & Woods Issues Pessimistic Forecast for Comerica (NYSE:CMA) Stock Price

Comerica (NYSE:CMA) had its price objective cut by stock analysts at Keefe, Bruyette & Woods from $82.00 to $77.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 21.72% from the company’s previous close.

A number of other research firms also recently issued reports on CMA. Compass Point lifted their price objective on shares of Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. JPMorgan Chase & Co. cut their price objective on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Robert W. Baird cut their price objective on shares of Comerica from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Thursday. Barclays lifted their price objective on shares of Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Finally, DA Davidson lifted their target price on Comerica from $64.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $68.33.

Comerica Stock Performance

Shares of CMA stock opened at $63.26 on Thursday. The firm has a 50 day moving average of $65.56 and a 200-day moving average of $60.88. Comerica has a 52 week low of $45.32 and a 52 week high of $73.45. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The company has a market cap of $8.32 billion, a price-to-earnings ratio of 12.60 and a beta of 1.26.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same quarter last year, the company posted $1.46 earnings per share. On average, equities analysts forecast that Comerica will post 5.36 earnings per share for the current year.

Comerica declared that its Board of Directors has approved a stock buyback program on Tuesday, November 5th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Insider Transactions at Comerica

In other Comerica news, EVP Allysun C. Fleming sold 1,392 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $68.83, for a total value of $95,811.36. Following the completion of the sale, the executive vice president now owns 8,730 shares of the company’s stock, valued at $600,885.90. This represents a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Comerica

Hedge funds and other institutional investors have recently made changes to their positions in the business. Trust Co. of Vermont raised its holdings in shares of Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 321 shares in the last quarter. Luken Investment Analytics LLC purchased a new stake in shares of Comerica in the fourth quarter worth $31,000. V Square Quantitative Management LLC purchased a new stake in shares of Comerica in the third quarter worth $36,000. MCF Advisors LLC grew its stake in shares of Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 228 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of Comerica during the third quarter valued at $42,000. Institutional investors own 80.74% of the company’s stock.

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.