Comerica (NYSE:CMA) Raised to “Neutral” at UBS Group

Comerica (NYSE:CMA) was upgraded by equities researchers at UBS Group from a “sell” rating to a “neutral” rating in a research report issued to clients and investors on Thursday, Marketbeat reports. The brokerage currently has a $59.00 price target on the financial services provider’s stock. UBS Group’s target price suggests a potential upside of 7.04% from the stock’s previous close.

A number of other analysts also recently weighed in on CMA. Wells Fargo & Company cut their price target on shares of Comerica from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. JPMorgan Chase & Co. cut their price target on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods cut their target price on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Stephens cut shares of Comerica from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $66.00 to $64.00 in a report on Monday, March 31st. Finally, Truist Financial raised shares of Comerica to a “hold” rating in a research note on Monday, January 6th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $67.70.

Comerica Stock Up 9.3 %

CMA stock opened at $55.12 on Thursday. Comerica has a 1 year low of $45.32 and a 1 year high of $73.45. The firm has a market cap of $7.23 billion, a PE ratio of 10.98 and a beta of 0.96. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The company has a fifty day simple moving average of $60.99 and a 200 day simple moving average of $63.24.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate 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 posted $1.46 earnings per share. Sell-side analysts anticipate that Comerica will post 5.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Trust Co. of Vermont boosted its position in Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 321 shares during the last quarter. Luken Investment Analytics LLC purchased a new position in Comerica in the fourth quarter valued at about $31,000. MCF Advisors LLC grew its holdings in Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in Comerica during the third quarter worth $42,000. Finally, V Square Quantitative Management LLC boosted its stake 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 acquiring an additional 221 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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.