Comerica (NYSE:CMA) Price Target Cut to $57.00 by Analysts at The Goldman Sachs Group

Comerica (NYSE:CMA - Get Free Report) had its price objective decreased by research analysts at The Goldman Sachs Group from $66.00 to $57.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. The Goldman Sachs Group's target price would indicate a potential upside of 13.03% from the company's previous close.

A number of other equities research analysts have also recently weighed in on CMA. Robert W. Baird dropped their price target on Comerica from $80.00 to $75.00 and set an "outperform" rating for the company in a report on Tuesday. Raymond James lowered their target price on Comerica from $72.00 to $67.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. DA Davidson reduced their price target on shares of Comerica from $71.00 to $67.00 and set a "neutral" rating on the stock in a research report on Thursday, January 23rd. Argus upgraded shares of Comerica to a "hold" rating in a research report on Friday, January 31st. Finally, Barclays upped their target price on shares of Comerica from $66.00 to $68.00 and gave the stock an "underweight" rating in a research report on Monday, January 6th. Five analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $63.53.

Comerica Price Performance

Shares of NYSE CMA traded down $0.17 during midday trading on Tuesday, reaching $50.43. 536,429 shares of the company traded hands, compared to its average volume of 2,206,703. The stock's 50-day simple moving average is $58.55 and its 200-day simple moving average is $62.87. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. Comerica has a 12 month low of $45.32 and a 12 month high of $73.45. The firm has a market cap of $6.62 billion, a PE ratio of 10.05 and a beta of 0.96.

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

Institutional Investors Weigh In On Comerica

Several large investors have recently bought and sold shares of CMA. State of Alaska Department of Revenue boosted its position in shares of Comerica by 2.6% during the first quarter. State of Alaska Department of Revenue now owns 15,390 shares of the financial services provider's stock worth $908,000 after purchasing an additional 390 shares in the last quarter. Cyndeo Wealth Partners LLC acquired a new position in Comerica in the first quarter valued at about $6,621,000. New England Research & Management Inc. grew its stake in Comerica by 55.3% in the first quarter. New England Research & Management Inc. now owns 19,682 shares of the financial services provider's stock valued at $1,162,000 after acquiring an additional 7,007 shares during the period. Greenwood Capital Associates LLC raised its position in shares of Comerica by 23.6% during the first quarter. Greenwood Capital Associates LLC now owns 17,025 shares of the financial services provider's stock worth $1,005,000 after purchasing an additional 3,246 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Comerica during the first quarter worth about $9,779,000. 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.

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.