Raymond James Financial Reiterates Market Perform Rating for Comerica (NYSE:CMA)

Comerica (NYSE:CMA - Get Free Report)'s stock had its "market perform" rating reissued by equities researchers at Raymond James Financial in a note issued to investors on Tuesday, MarketBeat.com reports.

A number of other equities research analysts have also recently commented on CMA. 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 lowered shares of Comerica from an "in-line" rating to an "underperform" rating and dropped their price target for the company from $65.00 to $50.00 in a research report on Tuesday, April 22nd. UBS Group raised shares of Comerica from a "sell" rating to a "neutral" rating and set a $59.00 price target on the stock in a research report on Thursday, April 10th. Keefe, Bruyette & Woods dropped their price target on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group dropped their price target on shares of Comerica from $66.00 to $57.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Six research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $62.30.

Comerica Trading Up 0.3%

NYSE CMA traded up $0.19 on Tuesday, hitting $63.14. The company's stock had a trading volume of 1,860,556 shares, compared to its average volume of 2,005,441. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.86. Comerica has a 1-year low of $48.12 and a 1-year high of $73.45. The company's 50-day moving average is $57.57 and its 200 day moving average is $59.48. The firm has a market cap of $8.30 billion, a PE ratio of 11.94 and a beta of 0.92.

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

Hedge Funds Weigh In On Comerica

Several hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. grew its stake 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 acquiring an additional 176 shares in the last quarter. Parallel Advisors LLC grew its stake in Comerica by 19.6% during the second quarter. Parallel Advisors LLC now owns 1,152 shares of the financial services provider's stock valued at $69,000 after acquiring an additional 189 shares in the last quarter. Bessemer Group Inc. grew its stake in Comerica by 2.0% during the fourth quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider's stock valued at $672,000 after acquiring an additional 211 shares in the last quarter. Keeley Teton Advisors LLC grew its stake in Comerica by 0.7% during the first quarter. Keeley Teton Advisors LLC now owns 32,079 shares of the financial services provider's stock valued at $1,895,000 after acquiring an additional 217 shares in the last quarter. Finally, Meeder Asset Management Inc. grew its stake in Comerica by 0.3% during the first quarter. Meeder Asset Management Inc. now owns 84,408 shares of the financial services provider's stock valued at $4,985,000 after acquiring an additional 221 shares in the last quarter. 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.