Comerica's (CMA) Market Perform Rating Reiterated at Raymond James Financial

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

A number of other equities research analysts have also issued reports on the stock. Morgan Stanley lowered shares of Comerica from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $63.00 to $55.00 in a report on Monday, April 7th. Truist Financial set a $61.00 target price on shares of Comerica and gave the company a "hold" rating in a research note on Friday, June 13th. Wells Fargo & Company cut their target price on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Evercore ISI lowered shares of Comerica from an "in-line" rating to an "underperform" rating and cut their target price for the company from $65.00 to $50.00 in a research note on Tuesday, April 22nd. Finally, Keefe, Bruyette & Woods cut their target price on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Six equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $62.35.

Comerica Trading Down 0.9%

Comerica stock traded down $0.56 during trading hours on Tuesday, reaching $63.45. The stock had a trading volume of 1,343,510 shares, compared to its average volume of 1,998,721. The stock has a market cap of $8.34 billion, a PE ratio of 11.99 and a beta of 0.92. Comerica has a 52 week low of $48.12 and a 52 week high of $73.45. The company has a debt-to-equity ratio of 0.86, a current ratio of 0.96 and a quick ratio of 0.96. The company has a fifty day simple moving average of $58.26 and a 200-day simple moving average of $59.55.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.11. The business had revenue of $829.00 million for the quarter, compared to analyst estimates of $839.31 million. Comerica had a net margin of 14.89% and a return on equity of 11.59%. During the same quarter last year, the firm earned $1.29 EPS. Analysts forecast that Comerica will post 5.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its stake in shares of Comerica by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 5,508,229 shares of the financial services provider's stock worth $325,308,000 after buying an additional 472,409 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Comerica by 5.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 4,663,441 shares of the financial services provider's stock worth $275,423,000 after buying an additional 231,885 shares in the last quarter. North Reef Capital Management LP lifted its stake in shares of Comerica by 15.7% in the fourth quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider's stock worth $250,492,000 after buying an additional 550,000 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Comerica by 9.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,321,494 shares of the financial services provider's stock worth $137,107,000 after buying an additional 203,333 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Comerica by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 2,214,963 shares of the financial services provider's stock worth $137,039,000 after buying an additional 103,118 shares in the last quarter. 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.