Comerica (NYSE:CMA) Rating Reiterated by Stephens

Comerica (NYSE:CMA)‘s stock had its “overweight” rating reiterated by equities researchers at Stephens in a research report issued on Friday, Benzinga reports. They currently have a $64.00 price objective on the financial services provider’s stock. Stephens’ target price points to a potential upside of 24.13% from the stock’s current price.

Several other research firms have also recently issued reports on CMA. Evercore ISI upped their price target on shares of Comerica from $55.00 to $58.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Comerica in a research note on Wednesday, April 10th. They issued a “hold” rating and a $59.00 price target on the stock. Bank Of America (Bofa) boosted their price objective on Comerica from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. UBS Group reiterated a “neutral” rating and issued a $59.00 price objective (down from $66.00) on shares of Comerica in a report on Thursday, April 4th. Finally, Barclays upped their target price on Comerica from $49.00 to $59.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 2nd. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Comerica presently has a consensus rating of “Hold” and an average price target of $58.02.

Comerica Price Performance

CMA stock opened at $51.56 on Friday. The firm has a market cap of $6.83 billion, a P/E ratio of 10.25 and a beta of 1.27. 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 quick ratio of 0.94 and a current ratio of 0.95. The stock’s 50 day moving average price is $51.38 and its 200 day moving average price is $49.30.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. During the same quarter in the previous year, the business earned $2.39 earnings per share. On average, sell-side analysts expect that Comerica will post 5.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Comerica

A number of institutional investors have recently bought and sold shares of CMA. Vanguard Group Inc. raised its stake in shares of Comerica by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock valued at $941,968,000 after buying an additional 676,959 shares in the last quarter. BlackRock Inc. increased its stake in Comerica by 9.4% in the first quarter. BlackRock Inc. now owns 13,313,998 shares of the financial services provider’s stock valued at $578,094,000 after acquiring an additional 1,145,951 shares during the period. State Street Corp raised its position in Comerica by 3.9% in the third quarter. State Street Corp now owns 7,675,947 shares of the financial services provider’s stock worth $550,764,000 after purchasing an additional 284,884 shares in the last quarter. First Trust Advisors LP lifted its stake in Comerica by 1,192.2% during the first quarter. First Trust Advisors LP now owns 3,878,506 shares of the financial services provider’s stock worth $168,405,000 after purchasing an additional 3,578,355 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Comerica by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,343,131 shares of the financial services provider’s stock worth $186,580,000 after acquiring an additional 48,526 shares in the last quarter. Institutional investors and hedge funds 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.