Comerica (NYSE:CMA) Downgraded to Market Perform Rating by Keefe, Bruyette & Woods

Key Points

• Comerica has been downgraded from a "moderate buy" to a "hold" rating by Keefe, Bruyette & Woods, reflecting a cautious outlook from analysts.
• Despite the downgrade, Royal Bank Of Canada has increased Comerica's price target from $75.00 to $86.00, signifying varying opinions on the stock's potential.
• The average price target for Comerica stands at $71.55, with the stock having a market capitalization of $9.75 billion and a P/E ratio of 14.54.

Comerica (NYSE:CMA - Get Free Report) was downgraded by research analysts at Keefe, Bruyette & Woods from an "outperform" rating to a "market perform" rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. They currently have a $93.00 price target on the financial services provider's stock. Keefe, Bruyette & Woods' target price indicates a potential upside of 22.56% from the stock's previous close.

A number of other research firms also recently commented on CMA. Raymond James Financial reaffirmed a "market perform" rating on shares of Comerica in a research report on Tuesday, July 8th. Jefferies Financial Group boosted their price target on shares of Comerica from $75.00 to $85.00 and gave the stock a "hold" rating in a research note on Tuesday, October 7th. Cantor Fitzgerald assumed coverage on shares of Comerica in a research note on Wednesday, September 10th. They set a "neutral" rating and a $72.00 price target on the stock. Morgan Stanley upgraded shares of Comerica from an "underweight" rating to an "equal weight" rating and set a $83.00 target price on the stock in a research report on Tuesday, October 7th. Finally, UBS Group set a $64.00 target price on shares of Comerica and gave the stock a "neutral" rating in a research report on Monday, July 21st. Four equities research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, Comerica has an average rating of "Hold" and a consensus price target of $71.55.

Comerica Trading Down 5.4%

Shares of NYSE:CMA opened at $75.88 on Thursday. Comerica has a 52 week low of $48.12 and a 52 week high of $83.22. The company's 50 day moving average is $69.93 and its two-hundred day moving average is $62.21. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.84. The company has a market cap of $9.75 billion, a PE ratio of 14.54 and a beta of 0.96.

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

Insider Activity

In related news, EVP Allysun C. Fleming sold 2,100 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $67.03, for a total transaction of $140,763.00. Following the transaction, the executive vice president owned 9,424 shares of the company's stock, valued at approximately $631,690.72. This 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 the SEC website. Also, insider James Mcgregor Carr sold 4,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $67.28, for a total transaction of $269,120.00. Following the transaction, the insider directly owned 33,471 shares in the company, valued at $2,251,928.88. The trade was a 10.67% decrease in their position. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Comerica

Institutional investors and hedge funds have recently modified their holdings of the company. MorganRosel Wealth Management LLC purchased a new position in shares of Comerica during the first quarter valued at approximately $33,000. Gen Wealth Partners Inc purchased a new position in shares of Comerica during the first quarter valued at approximately $34,000. Geneos Wealth Management Inc. lifted 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 buying an additional 176 shares during the period. FNY Investment Advisers LLC purchased a new position in shares of Comerica during the second quarter valued at approximately $35,000. Finally, Employees Retirement System of Texas purchased a new position in shares of Comerica during the second quarter valued at approximately $48,000. 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.