Robert W. Baird Has Lowered Expectations for Comerica (NYSE:CMA) Stock Price

Comerica (NYSE:CMA - Get Free Report) had its price target dropped by investment analysts at Robert W. Baird from $80.00 to $75.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the financial services provider's stock. Robert W. Baird's target price suggests a potential upside of 47.93% from the stock's current price.

Other research analysts also recently issued research reports about the company. Royal Bank of Canada dropped their price objective on Comerica from $78.00 to $76.00 and set an "outperform" rating on the stock in a report on Thursday, January 23rd. Truist Financial upgraded shares of Comerica to a "hold" rating in a research report on Monday, January 6th. Evercore ISI downgraded shares of Comerica from an "in-line" rating to an "underperform" rating and set a $50.00 target price on the stock. in a research report on Tuesday. Morgan Stanley cut shares of Comerica from an "equal weight" rating to an "underweight" rating and reduced their price target for the company from $63.00 to $55.00 in a research report on Monday, April 7th. Finally, Raymond James dropped their price objective on Comerica from $72.00 to $67.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $65.95.

Comerica Stock Down 4.2 %

Shares of NYSE CMA opened at $50.70 on Tuesday. The business's fifty day simple moving average is $58.55 and its 200-day simple 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. The stock has a market cap of $6.65 billion, a P/E ratio of 10.10 and a beta of 0.96.

Comerica (NYSE:CMA - Get Free Report) last issued its earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, beating 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 quarter last year, the company earned $1.29 earnings per share. As a group, equities analysts predict that Comerica will post 5.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Comerica

Several institutional investors and hedge funds have recently added to or reduced their stakes in CMA. State of Alaska Department of Revenue boosted its stake in shares of Comerica by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 15,390 shares of the financial services provider's stock valued at $908,000 after buying an additional 390 shares in the last quarter. Cyndeo Wealth Partners LLC purchased a new stake in shares of Comerica during the 1st quarter worth approximately $6,621,000. New England Research & Management Inc. grew its holdings in shares of Comerica by 55.3% in the 1st quarter. New England Research & Management Inc. now owns 19,682 shares of the financial services provider's stock worth $1,162,000 after acquiring an additional 7,007 shares during the period. Greenwood Capital Associates LLC raised its holdings in 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 last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in Comerica during the first quarter worth $9,779,000. Institutional investors and hedge funds 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.

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