Comerica (NYSE:CMA) Cut to "Underperform" at Evercore ISI

Comerica (NYSE:CMA - Get Free Report) was downgraded by stock analysts at Evercore ISI from an "in-line" rating to an "underperform" rating in a research note issued on Tuesday,Briefing.com Automated Import reports. They presently have a $50.00 target price on the financial services provider's stock. Evercore ISI's price objective suggests a potential downside of 1.38% from the stock's previous close.

A number of other equities analysts have also recently issued reports on CMA. UBS Group upgraded Comerica from a "sell" rating to a "neutral" rating and set a $59.00 target price for the company in a report on Thursday, April 10th. Raymond James dropped their target price on Comerica from $72.00 to $67.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Wells Fargo & Company reduced their price target on Comerica from $70.00 to $67.00 and set an "equal weight" rating for the company in a research report on Friday, March 28th. Argus raised shares of Comerica to a "hold" rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada reduced their target price on shares of Comerica from $78.00 to $76.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $66.21.

Comerica Stock Performance

CMA stock opened at $50.70 on Tuesday. Comerica has a 1-year low of $45.32 and a 1-year high of $73.45. The business's 50-day moving average price is $58.55 and its two-hundred day moving average price is $62.87. The firm has a market cap of $6.65 billion, a PE ratio of 10.10 and a beta of 0.96. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA - Get Free Report) last posted its earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.11. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The business had revenue of $829.00 million during the quarter, compared to analysts' expectations of $839.31 million. During the same period in the prior year, the business earned $1.29 EPS. As a group, research analysts forecast that Comerica will post 5.28 earnings per share for the current year.

Hedge Funds Weigh In On Comerica

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its stake in Comerica by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,035,820 shares of the financial services provider's stock valued at $311,464,000 after purchasing an additional 114,072 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Comerica by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider's stock valued at $274,092,000 after acquiring an additional 125,514 shares during the period. North Reef Capital Management LP boosted its position in shares of Comerica by 15.7% in the fourth quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider's stock valued at $250,492,000 after acquiring an additional 550,000 shares during the period. Vaughan Nelson Investment Management L.P. grew its stake in shares of Comerica by 3.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider's stock valued at $153,462,000 after acquiring an additional 72,391 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Comerica by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 2,214,963 shares of the financial services provider's stock worth $137,039,000 after acquiring an additional 103,118 shares during the period. Institutional investors and hedge funds 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.

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