Comerica (NYSE:CMA) Receives Overweight Rating from Stephens

Comerica (NYSE:CMAGet Free Report)‘s stock had its “overweight” rating reiterated by stock analysts at Stephens in a report released on Tuesday, Benzinga reports. They currently have a $64.00 price objective on the financial services provider’s stock. Stephens’ target price would suggest a potential upside of 35.45% from the stock’s current price.

CMA has been the topic of a number of other reports. Deutsche Bank Aktiengesellschaft initiated coverage on Comerica in a research report on Wednesday, April 10th. They set a “hold” rating and a $59.00 price objective on the stock. Piper Sandler raised their price target on Comerica from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday, April 26th. Royal Bank of Canada boosted their price objective on shares of Comerica from $61.00 to $62.00 and gave the company an “outperform” rating in a research report on Friday, April 19th. Citigroup downgraded shares of Comerica from a “buy” rating to a “neutral” rating and reduced their target price for the company from $60.00 to $56.00 in a research note on Monday, May 6th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $53.00 price target on shares of Comerica in a research note on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $56.50.

View Our Latest Analysis on CMA

Comerica Trading Down 1.7 %

Shares of CMA opened at $47.25 on Tuesday. The stock has a market capitalization of $6.26 billion, a PE ratio of 9.39 and a beta of 1.25. The company’s fifty day moving average is $51.98 and its 200 day moving average is $51.93. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 0.95. Comerica has a fifty-two week low of $37.40 and a fifty-two week high of $57.39.

Comerica (NYSE:CMAGet Free Report) last posted its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. During the same period in the previous year, the firm posted $2.39 EPS. Sell-side analysts expect that Comerica will post 5.19 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Cassandra M. Mckinney sold 7,271 shares of the stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total value of $382,381.89. Following the sale, the executive vice president now owns 7,236 shares in the company, valued at $380,541.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Comerica

Several institutional investors have recently made changes to their positions in the company. Pitcairn Co. grew its position in Comerica by 2.9% during the first quarter. Pitcairn Co. now owns 6,800 shares of the financial services provider’s stock valued at $374,000 after buying an additional 190 shares during the period. Bison Wealth LLC increased its position in shares of Comerica by 1.7% during the fourth quarter. Bison Wealth LLC now owns 11,653 shares of the financial services provider’s stock worth $650,000 after purchasing an additional 196 shares in the last quarter. Fruth Investment Management raised its stake in Comerica by 1.6% in the 4th quarter. Fruth Investment Management now owns 13,090 shares of the financial services provider’s stock valued at $730,000 after purchasing an additional 200 shares during the last quarter. Texas Permanent School Fund Corp boosted its stake in Comerica by 0.7% during the 1st quarter. Texas Permanent School Fund Corp now owns 27,245 shares of the financial services provider’s stock worth $1,498,000 after purchasing an additional 201 shares during the last quarter. Finally, Yousif Capital Management LLC grew its holdings in shares of Comerica by 2.8% during the fourth quarter. Yousif Capital Management LLC now owns 7,918 shares of the financial services provider’s stock worth $442,000 after buying an additional 219 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Company Profile

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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.

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Analyst Recommendations for Comerica (NYSE:CMA)

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