Comerica (NYSE:CMA) Earns Overweight Rating from Stephens

Comerica (NYSE:CMA)‘s stock had its “overweight” rating reissued by analysts at Stephens in a research note issued to investors on Wednesday,Benzinga reports. They currently have a $72.00 price target on the financial services provider’s stock. Stephens’ price objective indicates a potential upside of 23.14% from the company’s current price.

Several other equities analysts also recently issued reports on CMA. Robert W. Baird raised their price target on shares of Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Royal Bank of Canada reduced their price target on Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods decreased their target price on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company upgraded shares of Comerica from an “underweight” rating to an “equal weight” rating and increased their price objective for the stock from $51.00 to $73.00 in a research report on Friday, November 15th. Finally, The Goldman Sachs Group downgraded shares of Comerica from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $71.00 in a research report on Tuesday, January 7th. Three investment 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $68.67.

Comerica Stock Down 1.5 %

Shares of CMA opened at $58.47 on Wednesday. The firm’s 50-day simple moving average is $64.42 and its 200 day simple moving average is $63.28. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $7.68 billion, a P/E ratio of 11.65 and a beta of 1.25. Comerica has a 52 week low of $45.32 and a 52 week high of $73.45.

Comerica (NYSE:CMA) last issued 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 period in the prior year, the firm earned $1.46 earnings per share. On average, analysts forecast that Comerica will post 5.28 earnings per share for the current year.

Hedge Funds Weigh In On Comerica

Institutional investors have recently made changes to their positions in the stock. Trust Co. of Vermont lifted its stake in Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after purchasing an additional 321 shares during the last quarter. Luken Investment Analytics LLC purchased a new position in shares of Comerica during the fourth quarter worth approximately $31,000. MCF Advisors LLC lifted its holdings in shares of Comerica by 56.3% in the 4th 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. Wilmington Savings Fund Society FSB bought a new position in shares of Comerica during the 3rd quarter valued at $42,000. Finally, V Square Quantitative Management LLC lifted its stake in Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 221 shares during the last quarter. 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.