Comerica (NYSE:CMA) had its price target cut by equities research analysts at Barclays from $81.00 to $74.00 in a report released on Thursday, BenzingaRatingsTable reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Barclays‘s price objective suggests a potential upside of 12.51% from the stock’s previous close.
A number of other research analysts have also recently weighed in on CMA. Bank of America cut shares of Comerica from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $85.00 to $71.00 in a report on Thursday, July 11th. ValuEngine upgraded shares of Comerica from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 4th. DA Davidson dropped their price objective on shares of Comerica to $75.00 and set a “neutral” rating for the company in a report on Thursday, July 18th. UBS Group cut shares of Comerica from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $100.00 to $73.00 in a report on Monday, August 5th. Finally, BMO Capital Markets lowered their price target on shares of Comerica to $78.00 and set a “market perform” rating for the company in a report on Thursday, July 18th. Seven equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $81.48.
NYSE:CMA opened at $65.77 on Thursday. The firm has a 50 day moving average of $63.98 and a 200 day moving average of $72.64. The stock has a market capitalization of $9.57 billion, a price-to-earnings ratio of 9.08, a PEG ratio of 0.57 and a beta of 1.52. Comerica has a 52 week low of $58.54 and a 52 week high of $98.07. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.90.
Comerica (NYSE:CMA) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.01 by ($0.07). Comerica had a return on equity of 16.92% and a net margin of 33.29%. The business had revenue of $853.00 million during the quarter, compared to analysts’ expectations of $859.09 million. During the same period in the prior year, the business posted $1.87 earnings per share. The business’s quarterly revenue was up 1.8% on a year-over-year basis. As a group, analysts expect that Comerica will post 7.88 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Advisory Services Network LLC increased its stake in Comerica by 4.5% in the 2nd quarter. Advisory Services Network LLC now owns 3,450 shares of the financial services provider’s stock valued at $251,000 after buying an additional 150 shares during the period. Farr Miller & Washington LLC DC increased its stake in Comerica by 3.1% in the 2nd quarter. Farr Miller & Washington LLC DC now owns 5,754 shares of the financial services provider’s stock valued at $418,000 after buying an additional 172 shares during the period. LS Investment Advisors LLC increased its stake in Comerica by 3.3% in the 2nd quarter. LS Investment Advisors LLC now owns 5,408 shares of the financial services provider’s stock valued at $393,000 after buying an additional 172 shares during the period. Crossmark Global Holdings Inc. increased its stake in Comerica by 1.7% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,775 shares of the financial services provider’s stock valued at $783,000 after buying an additional 175 shares during the period. Finally, Piedmont Investment Advisors Inc. increased its stake in Comerica by 5.8% in the 1st quarter. Piedmont Investment Advisors Inc. now owns 3,258 shares of the financial services provider’s stock valued at $239,000 after buying an additional 178 shares during the period. 86.56% of the stock is currently owned by institutional investors.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services middle market businesses, multinational corporations, and governmental entities.
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