Comerica (NYSE:CMA) Price Target Lowered to $55.00 at UBS Group

Comerica (NYSE:CMA) had its price objective cut by investment analysts at UBS Group from $59.00 to $55.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price objective would indicate a potential upside of 6.67% from the company’s current price.

A number of other equities analysts have also commented on CMA. Keefe, Bruyette & Woods cut their price target on Comerica from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Monday, January 22nd. Argus lowered shares of Comerica from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Jefferies Financial Group decreased their price target on shares of Comerica from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, April 8th. DA Davidson restated a “neutral” rating and set a $56.00 price objective on shares of Comerica in a research report on Wednesday, March 6th. Finally, Evercore ISI boosted their target price on Comerica from $55.00 to $58.00 and gave the stock an “in-line” rating in a research report on Thursday, March 28th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $58.02.

Comerica Stock Performance

Shares of CMA opened at $51.56 on Friday. Comerica has a 1 year low of $28.40 and a 1 year high of $57.39. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.94. The stock’s fifty day moving average price is $51.38 and its two-hundred day moving average price is $49.30. The firm has a market cap of $6.83 billion, a PE ratio of 10.25 and a beta of 1.27.

Comerica (NYSE:CMA) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. During the same period in the prior year, the firm earned $2.39 earnings per share. On average, equities research analysts forecast that Comerica will post 5.09 EPS for the current year.

Insider Buying and Selling

In other Comerica news, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following the completion of the transaction, the executive vice president now owns 8,314 shares of the company’s stock, valued at $454,276.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Cassandra M. Mckinney sold 1,616 shares of the stock in a transaction on Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the sale, the executive vice president now directly owns 8,314 shares of the company’s stock, valued at $454,276.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Wendy Bridges sold 3,034 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.74, for a total value of $160,013.16. Following the completion of the transaction, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Institutional Trading of Comerica

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Spire Wealth Management increased its position in Comerica by 95.9% in the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock worth $25,000 after buying an additional 235 shares in the last quarter. Quarry LP purchased a new position in Comerica during the fourth quarter valued at $26,000. Chilton Capital Management LLC bought a new stake in Comerica in the 1st quarter valued at $28,000. Fortitude Family Office LLC purchased a new stake in Comerica in the 4th quarter worth $36,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Comerica in the 4th quarter worth approximately $36,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

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.