Morgan Stanley Has Lowered Expectations for Comerica (NYSE:CMA) Stock Price

Comerica (NYSE:CMA) had its price target decreased by investment analysts at Morgan Stanley from $71.00 to $63.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 9.10% from the stock’s current price.

Other equities analysts have also recently issued reports about the company. The Goldman Sachs Group cut Comerica from a “buy” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $71.00 in a research report on Tuesday, January 7th. Truist Financial upgraded Comerica to a “hold” rating in a research report on Monday, January 6th. Royal Bank of Canada decreased their price objective on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Argus raised shares of Comerica to a “hold” rating in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. cut their target price on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $68.29.

Comerica Stock Up 1.2 %

Shares of CMA opened at $57.75 on Thursday. The stock’s 50-day moving average price is $63.81 and its two-hundred day moving average price is $63.30. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $7.58 billion, a PE ratio of 11.50 and a beta of 1.23. Comerica has a 12 month low of $45.32 and a 12 month high of $73.45.

Comerica (NYSE:CMA) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter last year, the business posted $1.46 earnings per share. On average, analysts anticipate that Comerica will post 5.28 EPS for the current year.

Institutional Trading of Comerica

A number of large investors have recently modified their holdings of CMA. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Comerica in the 4th quarter valued at about $4,178,000. Jefferies Financial Group Inc. boosted its holdings in shares of Comerica by 27.2% in the 4th quarter. Jefferies Financial Group Inc. now owns 13,000 shares of the financial services provider’s stock valued at $804,000 after buying an additional 2,782 shares in the last quarter. LifeWealth Investments LLC purchased a new position in shares of Comerica in the 4th quarter valued at $224,000. Mackenzie Financial Corp acquired a new stake in Comerica during the 4th quarter worth $25,692,000. Finally, Forum Financial Management LP lifted its position in Comerica by 62.8% in the fourth quarter. Forum Financial Management LP now owns 7,126 shares of the financial services provider’s stock valued at $441,000 after acquiring an additional 2,750 shares during the last quarter. Hedge funds and other 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.