Keefe, Bruyette & Woods Issues Positive Forecast for Comerica (NYSE:CMA) Stock Price

Comerica (NYSE:CMA - Get Free Report) had its target price lifted by equities researchers at Keefe, Bruyette & Woods from $68.00 to $69.00 in a report released on Friday,Benzinga reports. The firm presently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' price target would indicate a potential upside of 8.75% from the company's current price.

A number of other research analysts also recently issued reports on CMA. Citigroup lifted their price objective on shares of Comerica from $54.00 to $61.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Piper Sandler lifted their price objective on shares of Comerica from $57.00 to $60.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 11th. UBS Group raised shares of Comerica from a "sell" rating to a "neutral" rating and set a $59.00 price objective on the stock in a research report on Thursday, April 10th. Raymond James Financial reaffirmed a "market perform" rating on shares of Comerica in a research report on Tuesday. Finally, Stephens downgraded shares of Comerica from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $66.00 to $64.00 in a research report on Monday, March 31st. Six research 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. Based on data from MarketBeat, Comerica currently has an average rating of "Hold" and a consensus price target of $62.35.

Comerica Stock Down 0.9%

NYSE CMA traded down $0.56 during trading on Friday, reaching $63.45. 1,343,510 shares of the company's stock traded hands, compared to its average volume of 1,998,721. 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 firm has a market cap of $8.34 billion, a price-to-earnings ratio of 11.99 and a beta of 0.92. The company's 50 day simple moving average is $58.26 and its two-hundred day simple moving average is $59.55. Comerica has a 12-month low of $48.12 and a 12-month high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last posted its earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.11. The business had revenue of $829.00 million for the quarter, compared to the consensus estimate 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 posted $1.29 EPS. As a group, sell-side analysts forecast that Comerica will post 5.28 EPS for the current fiscal year.

Institutional Trading of Comerica

Institutional investors and hedge funds have recently bought and sold shares of the business. MorganRosel Wealth Management LLC acquired a new stake in Comerica during the 1st quarter valued at approximately $33,000. Gen Wealth Partners Inc acquired a new position in shares of Comerica in the 1st quarter valued at $34,000. Geneos Wealth Management Inc. lifted 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 valued at $35,000 after purchasing an additional 176 shares during the period. Quarry LP lifted its stake in shares of Comerica by 152.0% in the 4th quarter. Quarry LP now owns 867 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 523 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Comerica in the 1st quarter valued at $55,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

About Comerica

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.