Brokerages Set Comerica Incorporated (NYSE:CMA) Price Target at $68.57

Comerica Incorporated (NYSE:CMA) has been given an average recommendation of “Hold” by the twenty-two brokerages that are presently covering the company, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $68.57.

Several research analysts have issued reports on the company. The Goldman Sachs Group lowered Comerica from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $71.00 in a research note on Tuesday, January 7th. Wells Fargo & Company raised Comerica from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $51.00 to $73.00 in a report on Friday, November 15th. Barclays lifted their price target on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. UBS Group started coverage on shares of Comerica in a research report on Tuesday, December 17th. They issued a “sell” rating and a $64.00 price objective on the stock. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd.

Hedge Funds Weigh In On Comerica

A number of institutional investors and hedge funds have recently bought and sold shares of CMA. Trust Co. of Vermont lifted its holdings in Comerica by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after buying an additional 321 shares in the last quarter. Luken Investment Analytics LLC purchased a new stake in shares of Comerica during the fourth quarter worth about $31,000. MCF Advisors LLC increased its position in shares of Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Comerica in the third quarter worth about $42,000. Finally, V Square Quantitative Management LLC boosted its holdings in Comerica by 36.7% in 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 during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Stock Down 0.9 %

Comerica stock opened at $64.86 on Thursday. 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 1-year low of $45.32 and a 1-year high of $73.45. The stock has a market cap of $8.53 billion, a PE ratio of 12.92 and a beta of 1.25. The stock’s fifty day moving average is $64.34 and its two-hundred day moving average is $62.94.

Comerica (NYSE:CMA) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 previous year, the company posted $1.46 EPS. On average, sell-side analysts expect that Comerica will post 5.28 EPS for the current fiscal year.

Comerica declared that its board has approved a stock buyback plan on Tuesday, November 5th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.