Comerica (NYSE:CMA) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Comerica (NYSE:CMA) had its target price upped by Robert W. Baird from $75.00 to $80.00 in a research report report published on Tuesday,Benzinga reports. They currently have an outperform rating on the financial services provider’s stock.

Other analysts have also issued reports about the stock. The Goldman Sachs Group lowered shares of Comerica from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $85.00 to $71.00 in a research note on Tuesday, January 7th. Argus raised shares of Comerica to a “hold” rating in a research note on Friday, January 31st. DA Davidson reduced their price target on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Compass Point upped their price target on shares of Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Truist Financial raised shares of Comerica to a “hold” rating in a research note on Monday, January 6th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Comerica has an average rating of “Hold” and an average target price of $68.57.

Comerica Trading Down 0.1 %

Comerica stock opened at $66.79 on Tuesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm has a 50-day moving average price of $64.41 and a two-hundred day moving average price of $62.12. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of 13.30 and a beta of 1.25. Comerica has a 52-week low of $45.32 and a 52-week high of $73.45.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share 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 quarter last year, the business earned $1.46 earnings per share. Sell-side analysts expect that Comerica will post 5.34 earnings per share for the current year.

Comerica announced that its board has initiated a share buyback plan on Tuesday, November 5th that permits the company to buyback 10,000,000 outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Comerica

A number of large investors have recently made changes to their positions in CMA. PL Capital Advisors LLC grew its position in Comerica by 6,085.0% during the fourth quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider’s stock valued at $109,981,000 after purchasing an additional 1,749,438 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new position in Comerica during the fourth quarter valued at approximately $82,419,000. Norges Bank purchased a new position in Comerica during the fourth quarter valued at approximately $64,150,000. Citigroup Inc. grew its position in Comerica by 390.6% during the third quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider’s stock valued at $45,628,000 after purchasing an additional 606,375 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its position in Comerica by 31.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,408,820 shares of the financial services provider’s stock valued at $144,312,000 after purchasing an additional 574,516 shares in 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.