Jefferies Financial Group Begins Coverage on Comerica (NYSE:CMA)

Jefferies Financial Group initiated coverage on shares of Comerica (NYSE:CMA) in a report released on Wednesday, Marketbeat.com reports. The firm set an “underperform” rating and a $47.00 price target on the financial services provider’s stock. Jefferies Financial Group’s price target would suggest a potential downside of 16.49% from the company’s current price.

A number of other research analysts have also recently commented on the stock. Argus upgraded shares of Comerica to a “hold” rating in a research report on Friday, January 31st. Robert W. Baird reduced their price target on shares of Comerica from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. UBS Group upgraded shares of Comerica from a “sell” rating to a “neutral” rating and set a $59.00 price target on the stock in a research report on Thursday, April 10th. Raymond James reduced their price target on shares of Comerica from $72.00 to $67.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 2nd. Finally, Evercore ISI cut shares of Comerica from an “in-line” rating to an “underperform” rating and reduced their price target for the company from $65.00 to $50.00 in a research report on Tuesday, April 22nd. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $62.37.

Comerica Stock Up 0.7%

Shares of NYSE CMA opened at $56.28 on Wednesday. Comerica has a one year low of $45.32 and a one year high of $73.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The firm’s 50 day simple moving average is $55.53 and its two-hundred day simple moving average is $61.88. The stock has a market capitalization of $7.40 billion, a P/E ratio of 11.21 and a beta of 0.92.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.11. Comerica had a net margin of 13.98% and a return on equity of 12.04%. The business had revenue of $829.00 million for the quarter, compared to analysts’ expectations of $839.31 million. During the same period last year, the business earned $1.29 earnings per share. As a group, analysts expect that Comerica will post 5.28 EPS for the current fiscal year.

Institutional Trading of Comerica

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Luken Investment Analytics LLC purchased a new stake in Comerica in the fourth quarter worth $31,000. MorganRosel Wealth Management LLC bought a new position in shares of Comerica during the 1st quarter worth $33,000. Gen Wealth Partners Inc bought a new position in shares of Comerica during the 1st quarter worth $34,000. Geneos Wealth Management Inc. grew its position in shares of Comerica by 41.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $35,000 after buying an additional 176 shares in the last quarter. Finally, MCF Advisors LLC grew its position in shares of Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after buying an additional 228 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

About Comerica

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.