Comerica (NYSE:CMA) Stock Rating Upgraded by UBS Group

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

Several other equities research analysts have also recently issued reports on the company. Keefe, Bruyette & Woods decreased their price objective on Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Robert W. Baird raised their price target on Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. JPMorgan Chase & Co. reduced their price objective on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Raymond James decreased their price target on shares of Comerica from $72.00 to $67.00 and set an “outperform” rating for the company in a report on Wednesday, April 2nd. Finally, Stephens downgraded Comerica from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $66.00 to $64.00 in a research note on Monday, March 31st. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $67.70.

Comerica Price Performance

Shares of Comerica stock opened at $55.12 on Thursday. The stock has a 50 day moving average price of $60.99 and a 200-day moving average price of $63.24. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. Comerica has a one year low of $45.32 and a one year high of $73.45. The stock has a market cap of $7.23 billion, a price-to-earnings ratio of 10.98 and a beta of 0.96.

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

Institutional Investors Weigh In On Comerica

Hedge funds and other institutional investors have recently bought and sold shares of the company. PL Capital Advisors LLC grew its stake in Comerica by 6,085.0% in the 4th quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider’s stock valued at $109,981,000 after acquiring an additional 1,749,438 shares during the period. Jupiter Asset Management Ltd. acquired a new position in Comerica in the 4th quarter valued at about $82,419,000. Norges Bank purchased a new stake in shares of Comerica in the fourth quarter valued at approximately $64,150,000. North Reef Capital Management LP lifted its holdings in shares of Comerica by 15.7% in the fourth quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider’s stock valued at $250,492,000 after purchasing an additional 550,000 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in Comerica by 548.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 642,400 shares of the financial services provider’s stock worth $39,732,000 after buying an additional 543,400 shares during the period. Hedge funds and other institutional investors 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.