Comerica (NYSE:CMA) Price Target Cut to $55.00

Comerica (NYSE:CMA) had its price target decreased by UBS Group from $59.00 to $55.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price objective points to a potential upside of 6.57% from the company’s previous close.

A number of other brokerages also recently weighed in on CMA. Bank Of America (Bofa) boosted their target price on shares of Comerica from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Evercore ISI increased their price objective on shares of Comerica from $55.00 to $58.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft started coverage on shares of Comerica in a report on Wednesday, April 10th. They set a “hold” rating and a $59.00 target price for the company. Stephens reissued an “overweight” rating and issued a $64.00 price target on shares of Comerica in a research note on Friday. Finally, Barclays lifted their price objective on Comerica from $49.00 to $59.00 and gave the stock an “underweight” rating in a research note on Tuesday, January 2nd. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $57.50.

Comerica Price Performance

NYSE:CMA traded up $0.95 during mid-day trading on Friday, hitting $51.61. The company’s stock had a trading volume of 442,098 shares, compared to its average volume of 2,096,262. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.03. The stock has a fifty day moving average of $51.38 and a 200-day moving average of $49.15. The company has a market capitalization of $6.84 billion, a price-to-earnings ratio of 8.01 and a beta of 1.27. Comerica has a fifty-two week low of $28.40 and a fifty-two week high of $57.39.

Comerica (NYSE:CMA) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.13 by $0.16. Comerica had a net margin of 16.71% and a return on equity of 19.41%. During the same period in the prior year, the firm posted $2.39 EPS. As a group, equities analysts forecast that Comerica will post 5.09 EPS for the current fiscal year.

Insider Buying and Selling

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

Hedge Funds Weigh In On Comerica

Large investors have recently made changes to their positions in the company. Private Advisor Group LLC grew its stake in shares of Comerica by 9.3% in the first quarter. Private Advisor Group LLC now owns 6,692 shares of the financial services provider’s stock valued at $605,000 after acquiring an additional 568 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of Comerica by 22.7% in the first quarter. MetLife Investment Management LLC now owns 35,565 shares of the financial services provider’s stock valued at $3,216,000 after buying an additional 6,590 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Comerica by 6.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,486 shares of the financial services provider’s stock worth $1,581,000 after buying an additional 1,024 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in Comerica by 8.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 27,966 shares of the financial services provider’s stock worth $2,626,000 after acquiring an additional 2,163 shares during the period. Finally, Yousif Capital Management LLC raised its holdings in Comerica by 119.2% in the 1st quarter. Yousif Capital Management LLC now owns 7,659 shares of the financial services provider’s stock valued at $693,000 after acquiring an additional 4,165 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

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.