Comerica's (CMA) Market Perform Rating Reaffirmed at Keefe, Bruyette & Woods

Key Points

• Comerica's stock received a "market perform" rating from Keefe, Bruyette & Woods, with a target price of $93.00, indicating a potential upside of 15.92% from its current price.
• Analyst ratings for Comerica are mixed, with four Buy ratings, sixteen Hold ratings, and three Sell ratings, resulting in an average price target of $71.55.
• The company reported $1.42 earnings per share for its last quarter, outperforming analysts' estimates, and achieved a revenue of $849.00 million, exceeding projections as well.

Comerica (NYSE:CMA - Get Free Report)'s stock had its "market perform" rating reaffirmed by equities researchers at Keefe, Bruyette & Woods in a research note issued on Friday. They currently have a $93.00 target price on the financial services provider's stock. Keefe, Bruyette & Woods' target price points to a potential upside of 15.92% from the company's current price.

Other analysts also recently issued reports about the company. Evercore ISI cut their target price on Comerica from $71.00 to $70.00 and set an "underperform" rating for the company in a research report on Tuesday, September 30th. Piper Sandler set a $82.00 target price on Comerica and gave the company a "neutral" rating in a research report on Tuesday. Truist Financial increased their price target on Comerica from $68.00 to $70.00 and gave the stock a "hold" rating in a report on Friday, September 12th. Royal Bank Of Canada set a $86.00 price target on Comerica in a report on Friday. Finally, Morgan Stanley upgraded Comerica from an "underweight" rating to an "equal weight" rating and set a $83.00 price target on the stock in a report on Tuesday. Four research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $71.55.

Comerica Stock Up 0.5%

CMA stock opened at $80.23 on Friday. 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 firm has a market capitalization of $10.31 billion, a PE ratio of 15.37, a PEG ratio of 14.31 and a beta of 0.96. Comerica has a 1-year low of $48.12 and a 1-year high of $83.22. The business's 50 day simple moving average is $69.74 and its 200 day simple moving average is $62.08.

Comerica (NYSE:CMA - Get Free Report) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.42 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.19. The business had revenue of $849.00 million for the quarter, compared to analyst estimates of $844.39 million. Comerica had a return on equity of 10.92% and a net margin of 14.92%.During the same period in the previous year, the firm earned $1.49 EPS. As a group, research analysts anticipate that Comerica will post 5.28 EPS for the current year.

Insiders Place Their Bets

In other Comerica news, EVP Allysun C. Fleming sold 2,100 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $67.03, for a total value of $140,763.00. Following the completion of the sale, the executive vice president directly owned 9,424 shares of the company's stock, valued at $631,690.72. This trade represents a 18.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider James Mcgregor Carr sold 4,000 shares of the firm's stock in a transaction on Friday, August 8th. The stock was sold at an average price of $67.28, for a total value of $269,120.00. Following the completion of the sale, the insider directly owned 33,471 shares of the company's stock, valued at $2,251,928.88. This represents a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.19% of the company's stock.

Hedge Funds Weigh In On Comerica

Large investors have recently made changes to their positions in the stock. UMB Bank n.a. boosted its stake in Comerica by 19.4% during the first quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider's stock valued at $105,000 after buying an additional 289 shares during the period. Farther Finance Advisors LLC boosted its stake in Comerica by 24.0% during the first quarter. Farther Finance Advisors LLC now owns 4,798 shares of the financial services provider's stock valued at $279,000 after buying an additional 929 shares during the period. Assenagon Asset Management S.A. bought a new stake in Comerica during the first quarter valued at $9,779,000. Greenwood Capital Associates LLC boosted its stake in Comerica by 23.6% during the first quarter. Greenwood Capital Associates LLC now owns 17,025 shares of the financial services provider's stock valued at $1,005,000 after buying an additional 3,246 shares during the period. Finally, New England Research & Management Inc. boosted its stake in Comerica by 55.3% during the first quarter. New England Research & Management Inc. now owns 19,682 shares of the financial services provider's stock valued at $1,162,000 after buying an additional 7,007 shares during the period. 80.74% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.