Comerica (NYSE:CMA) Price Target Raised to $80.00 at Robert W. Baird

Comerica (NYSE:CMA - Free Report) had its target price upped by Robert W. Baird from $75.00 to $80.00 in a research note released on Tuesday morning,Benzinga reports. Robert W. Baird currently has an outperform rating on the financial services provider's stock.

Several other research analysts also recently commented on CMA. Stephens lifted their target price on Comerica from $64.00 to $70.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Keefe, Bruyette & Woods reduced their target price on Comerica from $82.00 to $77.00 and set an "outperform" rating for the company in a research note on Thursday, January 23rd. Piper Sandler boosted their price target on Comerica from $64.00 to $72.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. StockNews.com upgraded Comerica from a "sell" rating to a "hold" rating in a research note on Monday, October 21st. Finally, Compass Point boosted their price target on Comerica from $64.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $68.57.

Comerica Stock Up 0.5 %

CMA stock traded up $0.32 during mid-day trading on Tuesday, reaching $67.08. The company had a trading volume of 985,112 shares, compared to its average volume of 2,155,303. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. Comerica has a 52 week low of $45.32 and a 52 week high of $73.45. The stock has a 50 day simple moving average of $64.41 and a two-hundred day simple moving average of $62.12. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of 13.34 and a beta of 1.25.

Comerica (NYSE:CMA - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 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 period in the prior year, the company earned $1.46 EPS. As a group, equities analysts predict that Comerica will post 5.34 earnings per share for the current fiscal year.

Comerica declared that its board has approved a share repurchase program on Tuesday, November 5th that allows the company to buyback 10,000,000 shares. This buyback authorization allows the financial services provider to buy shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's board believes its shares are undervalued.

Hedge Funds Weigh In On Comerica

Institutional investors have recently modified their holdings of the business. PL Capital Advisors LLC grew its position in Comerica by 6,085.0% during the 4th quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider's stock worth $109,981,000 after acquiring an additional 1,749,438 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in Comerica during the 4th quarter worth $82,419,000. Norges Bank bought a new stake in Comerica during the 4th quarter worth $64,150,000. Citigroup Inc. grew its position in Comerica by 390.6% during the 3rd quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider's stock worth $45,628,000 after acquiring an additional 606,375 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its position in Comerica by 31.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,408,820 shares of the financial services provider's stock worth $144,312,000 after acquiring an additional 574,516 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Comerica Company Profile

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.