Stephens Downgrades Comerica (NYSE:CMA) to Equal Weight

Comerica (NYSE:CMA) was downgraded by Stephens from an “overweight” rating to an “equal weight” rating in a research note issued on Monday, Marketbeat.com reports. They currently have a $64.00 price target on the financial services provider’s stock, down from their prior price target of $66.00. Stephens’ price target would suggest a potential upside of 8.97% from the stock’s current price.

Other equities analysts have also issued research reports about the stock. Robert W. Baird upped their price target on shares of Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Argus upgraded shares of Comerica to a “hold” rating in a research note on Friday, January 31st. Barclays boosted their price objective on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Wells Fargo & Company lowered their target price on Comerica from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. reduced their price target on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Comerica presently has an average rating of “Hold” and a consensus target price of $67.62.

Comerica Stock Performance

Shares of NYSE CMA opened at $58.73 on Monday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm’s 50-day moving average price is $63.07 and its two-hundred day moving average price is $63.63. Comerica has a 52-week low of $45.32 and a 52-week high of $73.45. The stock has a market capitalization of $7.71 billion, a P/E ratio of 11.70 and a beta of 1.23.

Comerica (NYSE:CMA) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same period last year, the business posted $1.46 EPS. As a group, sell-side analysts forecast that Comerica will post 5.28 earnings per share for the current year.

Institutional Investors Weigh In On Comerica

A number of institutional investors and hedge funds have recently modified their holdings of CMA. Wellington Management Group LLP acquired a new stake in shares of Comerica during the fourth quarter worth $13,875,000. Wealth Enhancement Advisory Services LLC raised its holdings in Comerica by 18.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,067 shares of the financial services provider’s stock worth $684,000 after buying an additional 1,732 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Comerica during the fourth quarter valued at about $4,178,000. Jefferies Financial Group Inc. boosted its holdings in shares of Comerica by 27.2% in the fourth quarter. Jefferies Financial Group Inc. now owns 13,000 shares of the financial services provider’s stock worth $804,000 after buying an additional 2,782 shares during the period. Finally, LifeWealth Investments LLC acquired a new position in shares of Comerica in the fourth quarter worth about $224,000. 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.