Comerica (NYSE:CMA) Price Target Lowered to $67.00 at Raymond James

Comerica (NYSE:CMA - Get Free Report) had its price target decreased by stock analysts at Raymond James from $72.00 to $67.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the financial services provider's stock. Raymond James' price objective suggests a potential upside of 32.90% from the stock's previous close.

A number of other equities research analysts have also recently issued reports on the stock. Truist Financial raised shares of Comerica to a "hold" rating in a research report on Monday, January 6th. Royal Bank of Canada decreased their target price on shares of Comerica from $78.00 to $76.00 and set an "outperform" rating on the stock in a research report on Thursday, January 23rd. Stephens downgraded shares of Comerica from an "overweight" rating to an "equal weight" rating and dropped their price target for the company from $66.00 to $64.00 in a research report on Monday, March 31st. Piper Sandler increased their price target on Comerica from $64.00 to $72.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Finally, Keefe, Bruyette & Woods lowered their price objective on Comerica from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Thursday, January 23rd. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $67.57.

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Comerica Stock Performance

Shares of CMA traded down $1.21 during trading hours on Wednesday, hitting $50.42. The company had a trading volume of 1,125,404 shares, compared to its average volume of 2,172,832. The firm has a market cap of $6.61 billion, a price-to-earnings ratio of 10.04 and a beta of 0.96. 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 business has a fifty day moving average of $62.28 and a 200-day moving average of $63.57. Comerica has a 12 month low of $45.32 and a 12 month high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter last year, the company earned $1.46 EPS. Equities analysts anticipate that Comerica will post 5.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Comerica

A number of institutional investors have recently modified their holdings of the company. PL Capital Advisors LLC lifted its stake in shares of Comerica by 6,085.0% in the 4th quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider's stock valued at $109,981,000 after purchasing an additional 1,749,438 shares during the period. Jupiter Asset Management Ltd. bought a new stake in Comerica in the 4th quarter valued at about $82,419,000. Norges Bank bought a new stake in Comerica in the 4th quarter valued at about $64,150,000. North Reef Capital Management LP raised its stake in Comerica by 15.7% during the 4th quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider's stock worth $250,492,000 after buying an additional 550,000 shares during the period. Finally, Canada Pension Plan Investment Board boosted its holdings in Comerica by 548.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 642,400 shares of the financial services provider's stock worth $39,732,000 after acquiring an additional 543,400 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

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.