Comerica (NYSE:CMA) Stock Rating Upgraded by Keefe, Bruyette & Woods

Comerica (NYSE:CMA) was upgraded by Keefe, Bruyette & Woods from a “market perform” rating to an “outperform” rating in a research report issued on Thursday, Benzinga reports. The brokerage presently has a $69.00 target price on the financial services provider’s stock, up from their previous target price of $50.00. Keefe, Bruyette & Woods’ price target would indicate a potential upside of 25.84% from the company’s previous close.

A number of other equities analysts have also recently issued reports on CMA. Morgan Stanley upped their target price on Comerica from $50.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Robert W. Baird decreased their price target on Comerica from $72.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th. JPMorgan Chase & Co. dropped their price target on shares of Comerica from $62.00 to $57.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Wells Fargo & Company dropped their target price on shares of Comerica from $48.00 to $45.00 and set an “underweight” rating on the stock in a report on Wednesday, June 12th. Finally, The Goldman Sachs Group dropped their price objective on Comerica from $69.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, June 4th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $56.05.

Comerica Stock Performance

NYSE:CMA opened at $54.83 on Thursday. The stock has a fifty day moving average price of $53.71 and a 200-day moving average price of $51.99. The company has a market cap of $7.27 billion, a price-to-earnings ratio of 10.90 and a beta of 1.25. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. Comerica has a fifty-two week low of $37.40 and a fifty-two week high of $58.50.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.30. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The business had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $812.79 million. During the same period in the prior year, the company earned $2.01 EPS. As a group, equities analysts anticipate that Comerica will post 5.05 EPS for the current fiscal year.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the sale, the executive vice president now owns 27,910 shares in the company, valued at $1,605,104.10. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Comerica

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Spire Wealth Management increased its stake in Comerica by 95.9% in the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 235 shares during the last quarter. Family Firm Inc. bought a new position in Comerica in the second quarter valued at $37,000. UMB Bank n.a. increased its stake in Comerica by 39.3% in the second quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 208 shares during the last quarter. Versant Capital Management Inc increased its stake in Comerica by 2,723.3% in the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 817 shares during the last quarter. Finally, Abich Financial Wealth Management LLC grew its stake in shares of Comerica by 50.2% during the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after buying an additional 300 shares during the last quarter. Hedge funds and other 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.