Comerica (NYSE:CMA) Downgraded by JPMorgan Chase & Co. to Underweight

Comerica (NYSE:CMA - Get Free Report) was downgraded by JPMorgan Chase & Co. from a "neutral" rating to an "underweight" rating in a note issued to investors on Tuesday,Briefing.com Automated Import reports. They presently have a $52.00 price objective on the financial services provider's stock. JPMorgan Chase & Co.'s price objective points to a potential upside of 2.56% from the company's current price.

Other analysts have also issued research reports about the company. Evercore ISI lowered Comerica from an "in-line" rating to an "underperform" rating and set a $50.00 price target on the stock. in a report on Tuesday. DA Davidson reduced their target price on shares of Comerica from $71.00 to $67.00 and set a "neutral" rating on the stock in a research note on Thursday, January 23rd. Wells Fargo & Company cut their price target on shares of Comerica from $70.00 to $67.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. Royal Bank of Canada decreased their price objective on shares of Comerica from $78.00 to $76.00 and set an "outperform" rating for the company in a research note on Thursday, January 23rd. Finally, The Goldman Sachs Group lowered Comerica from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $85.00 to $71.00 in a research note on Tuesday, January 7th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned 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 $66.21.

Comerica Price Performance

NYSE:CMA opened at $50.70 on Tuesday. The company has a market capitalization of $6.65 billion, a P/E ratio of 10.10 and a beta of 0.96. The business's 50-day moving average is $58.55 and its 200 day moving average is $62.87. 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 has a 12 month low of $45.32 and a 12 month high of $73.45.

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

Hedge Funds Weigh In On Comerica

Large investors have recently made changes to their positions in the business. Trust Co. of Vermont increased its position in Comerica by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock valued at $26,000 after buying an additional 321 shares in the last quarter. Luken Investment Analytics LLC purchased a new stake in shares of Comerica during the fourth quarter worth about $31,000. MCF Advisors LLC increased its holdings in shares of Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock valued at $39,000 after acquiring an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Comerica in the 3rd quarter valued at approximately $42,000. Finally, V Square Quantitative Management LLC boosted its stake in Comerica by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock worth $51,000 after purchasing an additional 221 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.