Stephens Downgrades Comerica (NYSE:CMA) to Equal Weight

Comerica (NYSE:CMA) was downgraded by Stephens from an “overweight” rating to an “equal weight” rating in a report released on Monday, MarketBeat.com reports. They currently have a $64.00 price target on the financial services provider’s stock, down from their previous price target of $66.00. Stephens’ target price suggests a potential upside of 9.95% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Royal Bank of Canada lowered their price objective on Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Compass Point raised their price target on shares of Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Morgan Stanley cut their price target on shares of Comerica from $71.00 to $63.00 and set an “equal weight” rating on the stock in a report on Thursday, March 13th. DA Davidson decreased their price objective on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Finally, Wells Fargo & Company dropped their target price on shares of Comerica from $70.00 to $67.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Comerica presently has an average rating of “Hold” and a consensus target price of $67.62.

Comerica Trading Down 1.4 %

NYSE:CMA opened at $58.21 on Monday. Comerica has a 12 month low of $45.32 and a 12 month high of $73.45. The business’s 50-day moving average is $62.77 and its two-hundred day moving average is $63.65. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $7.64 billion, a PE ratio of 11.60 and a beta of 1.23.

Comerica (NYSE:CMA) last announced 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 net margin of 13.98% and a return on equity of 12.04%. During the same period in the previous year, the company earned $1.46 EPS. Research analysts predict that Comerica will post 5.28 earnings per share for the current fiscal year.

Institutional Trading of Comerica

A number of institutional investors and hedge funds have recently modified their holdings of the stock. JPMorgan Chase & Co. raised its holdings in Comerica by 134.0% in the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock worth $51,309,000 after purchasing an additional 490,468 shares during the period. Independent Advisor Alliance acquired a new stake in Comerica during the 4th quarter worth $206,000. Jupiter Asset Management Ltd. bought a new position in Comerica during the fourth quarter worth about $82,419,000. Jones Financial Companies Lllp grew its stake in Comerica by 220.9% in the fourth quarter. Jones Financial Companies Lllp now owns 10,762 shares of the financial services provider’s stock valued at $666,000 after acquiring an additional 7,408 shares during the period. Finally, New England Research & Management Inc. acquired a new position in Comerica in the fourth quarter valued at about $784,000. 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.