Comerica (NYSE:CMA) Coverage Initiated by Analysts at Jefferies Financial Group

Equities research analysts at Jefferies Financial Group initiated coverage on shares of Comerica (NYSE:CMA - Get Free Report) in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. The brokerage set an "underperform" rating and a $47.00 price target on the financial services provider's stock. Jefferies Financial Group's price objective indicates a potential downside of 16.40% from the company's previous close.

Several other equities research analysts have also issued reports on the stock. Truist Financial decreased their price target on shares of Comerica from $65.00 to $57.00 and set a "hold" rating on the stock in a report on Tuesday, April 22nd. UBS Group raised Comerica from a "sell" rating to a "neutral" rating and set a $59.00 price objective on the stock in a research note on Thursday, April 10th. Royal Bank of Canada cut their target price on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group cut their price target on Comerica from $66.00 to $57.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Finally, Evercore ISI cut shares of Comerica from an "in-line" rating to an "underperform" rating and reduced their price objective for the company from $65.00 to $50.00 in a 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.com, the stock presently has an average rating of "Hold" and an average target price of $62.37.

Comerica Stock Performance

Shares of Comerica stock traded down $0.14 during trading on Wednesday, reaching $56.22. The company's stock had a trading volume of 1,514,231 shares, compared to its average volume of 2,191,509. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm has a market cap of $7.39 billion, a PE ratio of 11.20 and a beta of 0.92. Comerica has a 52 week low of $45.32 and a 52 week high of $73.45. The business's 50-day moving average price is $55.49 and its 200-day moving average price is $61.83.

Comerica (NYSE:CMA - Get Free Report) last released its earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.11. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The company had revenue of $829.00 million for the quarter, compared to analyst estimates of $839.31 million. During the same period in the prior year, the firm posted $1.29 EPS. Equities analysts forecast that Comerica will post 5.28 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. WBI Investments LLC bought a new stake in Comerica in the 1st quarter worth $810,000. Geneos Wealth Management Inc. increased its stake in shares of Comerica by 41.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock worth $35,000 after acquiring an additional 176 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in shares of Comerica by 2.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 483,992 shares of the financial services provider's stock valued at $28,585,000 after purchasing an additional 11,268 shares in the last quarter. Empowered Funds LLC raised its stake in Comerica by 12.6% during the first quarter. Empowered Funds LLC now owns 6,464 shares of the financial services provider's stock valued at $382,000 after buying an additional 724 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in shares of Comerica in the 1st quarter worth about $514,000. Hedge funds and other institutional investors 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.