Keefe, Bruyette & Woods Reaffirms Market Perform Rating for Comerica (NYSE:CMA)

Comerica (NYSE:CMA)‘s stock had its “market perform” rating restated by equities research analysts at Keefe, Bruyette & Woods in a research report issued on Friday, Marketbeat Ratings reports. They currently have a $93.00 target price on the financial services provider’s stock, up from their prior target price of $73.00. Keefe, Bruyette & Woods’ target price indicates a potential upside of 22.56% from the stock’s previous close.

A number of other equities analysts have also issued reports on the company. TD Cowen started coverage on Comerica in a research note on Thursday, September 25th. They set a “hold” rating and a $75.00 price target for the company. UBS Group set a $64.00 price target on Comerica and gave the company a “neutral” rating in a research note on Monday, July 21st. Royal Bank Of Canada increased their price target on Comerica from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday. Stephens reissued an “equal weight” rating on shares of Comerica in a research note on Monday, July 21st. Finally, Jefferies Financial Group raised their price objective on Comerica from $75.00 to $85.00 and gave the stock a “hold” rating in a research note on Tuesday, October 7th. Four investment analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Comerica has an average rating of “Hold” and an average target price of $71.55.

Comerica Stock Down 5.4%

CMA opened at $75.88 on Friday. The stock’s 50 day moving average price is $69.93 and its 200 day moving average price is $62.20. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $9.75 billion, a P/E ratio of 14.54, a P/E/G ratio of 13.57 and a beta of 0.96. Comerica has a 12 month low of $48.12 and a 12 month high of $83.22.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Monday, December 9th. The financial services provider reported $1.53 earnings per share (EPS) for the quarter. The firm had revenue of $824.00 million during the quarter. Comerica had a return on equity of 10.92% and a net margin of 14.92%. As a group, research analysts predict that Comerica will post 5.28 earnings per share for the current year.

Insider Buying and Selling at Comerica

In other news, EVP Allysun C. Fleming sold 2,100 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $67.03, for a total value of $140,763.00. Following the completion of the sale, the executive vice president owned 9,424 shares of the company’s stock, valued at $631,690.72. This trade represents a 18.22% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider James Mcgregor Carr sold 4,000 shares of the firm’s stock in a transaction on Friday, August 8th. The stock was sold at an average price of $67.28, for a total value of $269,120.00. Following the completion of the sale, the insider directly owned 33,471 shares of the company’s stock, valued at approximately $2,251,928.88. This trade represents a 10.67% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

Institutional investors have recently bought and sold shares of the company. MorganRosel Wealth Management LLC acquired a new stake in Comerica during the first quarter valued at $33,000. Gen Wealth Partners Inc acquired a new stake in Comerica during the first quarter valued at $34,000. Geneos Wealth Management Inc. boosted its position in Comerica by 41.8% during the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 176 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in Comerica during the second quarter valued at $35,000. Finally, Employees Retirement System of Texas acquired a new stake in Comerica during the second quarter valued at $48,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

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.