Robert W. Baird Lowers Comerica (NYSE:CMA) Price Target to $75.00

Comerica (NYSE:CMA) had its price objective dropped by investment analysts at Robert W. Baird from $80.00 to $75.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Robert W. Baird’s price objective indicates a potential upside of 18.55% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. cut their price target on Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Wells Fargo & Company raised Comerica from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $51.00 to $73.00 in a report on Friday, November 15th. Evercore ISI lifted their price target on shares of Comerica from $64.00 to $69.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 30th. Stephens lifted their price objective on shares of Comerica from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, The Goldman Sachs Group cut shares of Comerica from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $85.00 to $71.00 in a research report on Tuesday, January 7th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Comerica presently has an average rating of “Hold” and a consensus target price of $68.33.

Comerica Stock Up 1.2 %

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

Comerica (NYSE:CMA) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS 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 period last year, the company earned $1.46 earnings per share. Sell-side analysts predict that Comerica will post 5.36 EPS for the current fiscal year.

Comerica declared that its board has initiated a stock buyback program on Tuesday, November 5th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, EVP Allysun C. Fleming sold 1,392 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $68.83, for a total transaction of $95,811.36. Following the sale, the executive vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

Several hedge funds have recently modified their holdings of the stock. Trust Co. of Vermont boosted its stake in Comerica by 300.0% in 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 during the last quarter. Luken Investment Analytics LLC bought a new position in shares of Comerica during the fourth quarter worth $31,000. V Square Quantitative Management LLC acquired a new stake in shares of Comerica during the third quarter worth $36,000. MCF Advisors LLC raised its holdings in shares of Comerica by 56.3% during 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 period. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Comerica during the third quarter worth $42,000. 80.74% of the stock is 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.