Keefe, Bruyette & Woods Issues Pessimistic Forecast for Comerica (NYSE:CMA) Stock Price

Comerica (NYSE:CMA - Get Free Report) had its target price decreased by stock analysts at Keefe, Bruyette & Woods from $77.00 to $68.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price would indicate a potential upside of 34.12% from the stock's previous close.

Other research analysts have also recently issued reports about the stock. Royal Bank of Canada lowered their price target on shares of Comerica from $78.00 to $76.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Evercore ISI downgraded shares of Comerica from an "in-line" rating to an "underperform" rating and dropped their price objective for the company from $65.00 to $50.00 in a research note on Tuesday. DA Davidson reduced their price target on Comerica from $71.00 to $67.00 and set a "neutral" rating on the stock in a report on Thursday, January 23rd. Raymond James dropped their price objective on shares of Comerica from $72.00 to $67.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Finally, The Goldman Sachs Group lowered shares of Comerica from a "buy" rating to a "neutral" rating and cut their price target for the stock from $85.00 to $71.00 in a report on Tuesday, January 7th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $64.84.

Comerica Stock Performance

Shares of NYSE CMA opened at $50.70 on Tuesday. The stock has a market capitalization of $6.65 billion, a PE ratio of 10.10 and a beta of 0.96. Comerica has a 52 week low of $45.32 and a 52 week high of $73.45. The stock has a 50 day moving average price of $58.55 and a 200 day moving average price of $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 (NYSE:CMA - Get Free Report) last released 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. The company had revenue of $829.00 million for the quarter, compared to analyst estimates of $839.31 million. Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same period in the previous year, the business earned $1.29 EPS. Analysts predict that Comerica will post 5.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Comerica

Several hedge funds and other institutional investors have recently made changes to their positions in CMA. Trust Co. of Vermont increased its holdings in Comerica by 300.0% during the fourth 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 during the last quarter. Luken Investment Analytics LLC bought a new position in Comerica in the 4th quarter worth $31,000. MCF Advisors LLC grew its holdings in 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 purchasing an additional 228 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Comerica in the 3rd quarter worth approximately $42,000. Finally, V Square Quantitative Management LLC lifted its holdings in Comerica by 36.7% during the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 221 shares in the last quarter. Hedge funds and other institutional investors 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.

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