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

Comerica (NYSE:CMA - Get Free Report) had its price target increased by Keefe, Bruyette & Woods from $69.00 to $73.00 in a report issued on Monday, Marketbeat 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 11.94% from the company's current price.

Several other brokerages have also issued reports on CMA. Citigroup lifted their price target on Comerica from $54.00 to $61.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. JPMorgan Chase & Co. increased their target price on Comerica from $52.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Morgan Stanley cut Comerica from an "equal weight" rating to an "underweight" rating and lowered their price target for the company from $63.00 to $55.00 in a report on Monday, April 7th. Wells Fargo & Company dropped their price target on Comerica from $67.00 to $55.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Finally, Robert W. Baird dropped their price target on Comerica from $80.00 to $75.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $62.90.

Comerica Stock Up 3.2%

Shares of NYSE CMA traded up $2.05 during mid-day trading on Monday, reaching $65.21. 5,678,887 shares of the company's stock were exchanged, compared to its average volume of 2,012,668. The firm has a market capitalization of $8.57 billion, a price-to-earnings ratio of 12.49 and a beta of 0.92. 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 business has a fifty day simple moving average of $59.00 and a 200 day simple moving average of $59.55. Comerica has a twelve month low of $48.12 and a twelve month high of $73.45.

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

Institutional Investors Weigh In On Comerica

Hedge funds and other institutional investors have recently modified their holdings of the business. MorganRosel Wealth Management LLC acquired a new stake in Comerica during the 1st quarter worth about $33,000. Gen Wealth Partners Inc purchased a new stake in Comerica during the 1st quarter worth about $34,000. Geneos Wealth Management Inc. increased its position 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 worth $35,000 after purchasing an additional 176 shares in the last quarter. Quarry LP increased its position in 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 acquiring an additional 523 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new position in Comerica during the 1st quarter worth approximately $55,000. 80.74% of the stock is currently owned by hedge funds and other 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.