Comerica (NYSE:CMA) Given "Market Perform" Rating at Raymond James Financial

Comerica (NYSE:CMA - Get Free Report)'s stock had its "market perform" rating reiterated by analysts at Raymond James Financial in a report issued on Tuesday, Marketbeat.com reports.

Other analysts have also issued research reports about the stock. Stephens lowered shares of Comerica from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $66.00 to $64.00 in a research note on Monday, March 31st. Truist Financial set a $61.00 price target on shares of Comerica and gave the stock a "hold" rating in a report on Friday, June 13th. Evercore ISI cut shares of Comerica from an "in-line" rating to an "underperform" rating and cut their price target for the stock from $65.00 to $50.00 in a report on Tuesday, April 22nd. Jefferies Financial Group began coverage on shares of Comerica in a report on Wednesday, May 21st. They set an "underperform" rating and a $47.00 price target on the stock. Finally, Piper Sandler boosted their price target on shares of Comerica from $57.00 to $60.00 and gave the stock a "neutral" rating in a report on Wednesday, June 11th. Six analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Comerica currently has an average rating of "Hold" and an average target price of $62.30.

Comerica Stock Down 0.4%

Shares of CMA traded down $0.26 on Tuesday, reaching $62.85. The company's stock had a trading volume of 2,106,737 shares, compared to its average volume of 2,009,657. Comerica has a twelve month low of $48.12 and a twelve month high of $73.45. The stock has a market capitalization of $8.26 billion, a PE ratio of 11.88 and a beta of 0.92. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.86. The firm has a fifty day moving average of $57.93 and a 200-day moving average of $59.53.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.14 by $0.11. Comerica had a return on equity of 11.59% and a net margin of 14.89%. The firm had revenue of $829.00 million during the quarter, compared to the consensus estimate of $839.31 million. During the same period in the prior year, the business posted $1.29 earnings per share. Equities analysts predict that Comerica will post 5.28 EPS for the current year.

Hedge Funds Weigh In On Comerica

Several hedge funds have recently bought and sold shares of CMA. MorganRosel Wealth Management LLC bought a new position in Comerica during the first quarter valued at approximately $33,000. Gen Wealth Partners Inc bought a new position in shares of Comerica during the first quarter valued at about $34,000. Geneos Wealth Management Inc. raised its stake in shares of 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 acquiring an additional 176 shares during the last quarter. Quarry LP raised its stake in Comerica by 152.0% in the fourth quarter. Quarry LP now owns 867 shares of the financial services provider's stock worth $54,000 after buying an additional 523 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in Comerica in the first quarter worth about $55,000. 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.