Comerica (NYSE:CMA) Stock Price Expected to Rise, Stephens Analyst Says

Comerica (NYSE:CMA - Get Free Report) had its target price upped by investment analysts at Stephens from $61.00 to $68.00 in a report released on Monday, July 21st, Marketbeat reports. The firm currently has an "equal weight" rating on the financial services provider's stock. Stephens' price objective indicates a potential upside of 2.12% from the stock's previous close.

Several other research analysts have also weighed in on the stock. Morgan Stanley lowered shares of Comerica from an "equal weight" rating to an "underweight" rating and decreased their price objective for the stock from $63.00 to $55.00 in a report on Monday, April 7th. Robert W. Baird reduced their price target on shares of Comerica from $80.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. UBS Group upgraded shares of Comerica from a "sell" rating to a "neutral" rating and set a $59.00 price target on the stock in a research report on Thursday, April 10th. Wells Fargo & Company reduced their price target on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Finally, Truist Financial set a $61.00 price target on shares of Comerica and gave the stock a "hold" rating in a research report on Friday, June 13th. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat.com, Comerica currently has an average rating of "Hold" and an average target price of $63.25.

Comerica Trading Down 1.5%

NYSE:CMA traded down $0.98 during trading hours on Monday, reaching $66.59. 1,930,519 shares of the company were exchanged, compared to its average volume of 2,863,545. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $8.56 billion, a price-to-earnings ratio of 12.76 and a beta of 0.94. Comerica has a 52-week low of $48.12 and a 52-week high of $73.45. The stock has a 50 day simple moving average of $60.89 and a 200 day simple moving average of $59.90.

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, beating analysts' consensus estimates of $1.23 by $0.19. Comerica had a net margin of 14.92% and a return on equity of 10.92%. The business had revenue of $849.00 million for the quarter, compared to the consensus estimate of $844.39 million. During the same quarter last year, the firm posted $1.49 EPS. As a group, analysts predict that Comerica will post 5.28 EPS for the current year.

Institutional Trading of Comerica

Hedge funds and other institutional investors have recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new stake in Comerica in the first quarter valued at approximately $33,000. Gen Wealth Partners Inc purchased a new stake in Comerica in the 1st quarter valued at $34,000. Geneos Wealth Management Inc. grew its stake in 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. FNY Investment Advisers LLC bought a new position in shares of Comerica during the 2nd quarter worth $35,000. Finally, Quarry LP grew its stake in shares of Comerica by 152.0% during the 4th quarter. Quarry LP now owns 867 shares of the financial services provider's stock worth $54,000 after acquiring an additional 523 shares during the period. 80.74% of the stock is currently 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.