Comerica (NYSE:CMA) Downgraded by Stephens to Equal Weight

Comerica (NYSE:CMA) was downgraded by analysts at Stephens from an “overweight” rating to an “equal weight” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. They presently have a $64.00 price objective on the financial services provider’s stock, down from their previous price objective of $66.00. Stephens’ target price suggests a potential upside of 8.97% from the company’s current price.

CMA has been the subject of a number of other research reports. Barclays lifted their target price on shares of Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. Robert W. Baird lifted their price objective on Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Keefe, Bruyette & Woods lowered their target price on Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Truist Financial raised Comerica to a “hold” rating in a research note on Monday, January 6th. Finally, The Goldman Sachs Group cut Comerica from a “buy” rating to a “neutral” rating and lowered their price target for the company from $85.00 to $71.00 in a research note on Tuesday, January 7th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $67.62.

Comerica Stock Down 1.5 %

Shares of Comerica stock opened at $58.73 on Monday. Comerica has a 1 year low of $45.32 and a 1 year high of $73.45. The company has a market cap of $7.71 billion, a P/E ratio of 11.70 and a beta of 1.23. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The stock has a 50-day moving average price of $63.07 and a 200 day moving average price of $63.63.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (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 quarter in the previous year, the business earned $1.46 earnings per share. As a group, analysts expect that Comerica will post 5.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Comerica

A number of institutional investors have recently made changes to their positions in CMA. JPMorgan Chase & Co. boosted its stake in Comerica by 134.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock valued at $51,309,000 after purchasing an additional 490,468 shares during the period. Independent Advisor Alliance acquired a new position in shares of Comerica during the fourth quarter worth approximately $206,000. Jupiter Asset Management Ltd. bought a new stake in shares of Comerica in the fourth quarter valued at approximately $82,419,000. Jones Financial Companies Lllp grew its stake in shares of Comerica by 220.9% in the fourth quarter. Jones Financial Companies Lllp now owns 10,762 shares of the financial services provider’s stock worth $666,000 after acquiring an additional 7,408 shares during the last quarter. Finally, New England Research & Management Inc. bought a new position in Comerica during the fourth quarter worth $784,000. 80.74% of the stock is currently owned by institutional investors.

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.