Comerica (NYSE:CMA) Rating Reiterated by Morgan Stanley

Comerica (NYSE:CMA - Get Free Report)'s stock had its "equal weight" rating reaffirmed by stock analysts at Morgan Stanley in a report released on Monday, Benzinga reports. They currently have a $53.00 price objective on the financial services provider's stock. Morgan Stanley's price objective would suggest a potential upside of 0.78% from the stock's previous close.

Other analysts also recently issued reports about the company. UBS Group cut their target price on Comerica from $59.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday. Barclays upped their price objective on Comerica from $49.00 to $59.00 and gave the stock an "underweight" rating in a research report on Tuesday, January 2nd. TheStreet upgraded Comerica from a "c+" rating to a "b-" rating in a research report on Tuesday, December 26th. Truist Financial dropped their price objective on Comerica from $62.00 to $60.00 and set a "buy" rating for the company in a research report on Monday. Finally, Royal Bank of Canada upped their price objective on Comerica from $61.00 to $62.00 and gave the stock an "outperform" rating in a research report on Friday. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $56.89.

Comerica Price Performance

Shares of NYSE:CMA traded up $1.03 during trading on Monday, reaching $52.59. 2,575,684 shares of the company traded hands, compared to its average volume of 2,128,258. The company's 50 day moving average is $51.38 and its two-hundred day moving average is $49.45. The firm has a market capitalization of $6.97 billion, a PE ratio of 10.46 and a beta of 1.27. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. Comerica has a 52 week low of $28.40 and a 52 week high of $57.39.

Comerica (NYSE:CMA - Get Free Report) last released its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.16. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. Comerica had a return on equity of 16.51% and a net margin of 13.11%. During the same period in the prior year, the company posted $2.39 EPS. As a group, sell-side analysts predict that Comerica will post 5.09 earnings per share for the current year.

Insider Activity

In other news, EVP Cassandra M. Mckinney sold 1,616 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the completion of the sale, the executive vice president now owns 8,314 shares of the company's stock, valued at $454,276.96. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.74, for a total value of $160,013.16. Following the completion of the sale, the executive vice president now owns 17,460 shares of the company's stock, valued at $920,840.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $54.64, for a total value of $88,298.24. Following the completion of the sale, the executive vice president now directly owns 8,314 shares of the company's stock, valued at approximately $454,276.96. The disclosure for this sale can be found here. Insiders own 0.19% of the company's stock.

Institutional Investors Weigh In On Comerica

Several large investors have recently added to or reduced their stakes in the business. Raymond James & Associates boosted its holdings in Comerica by 18.1% in the fourth quarter. Raymond James & Associates now owns 203,324 shares of the financial services provider's stock worth $11,348,000 after acquiring an additional 31,125 shares in the last quarter. NewEdge Wealth LLC bought a new position in shares of Comerica in the fourth quarter valued at approximately $10,068,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Comerica by 73.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,771 shares of the financial services provider's stock valued at $3,168,000 after purchasing an additional 23,947 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Comerica by 3.5% in the third quarter. LSV Asset Management now owns 678,976 shares of the financial services provider's stock valued at $28,211,000 after purchasing an additional 22,800 shares in the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Comerica by 607.3% in the third quarter. Mackenzie Financial Corp now owns 303,143 shares of the financial services provider's stock valued at $12,007,000 after purchasing an additional 260,286 shares in the last quarter. Institutional investors and hedge funds 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.