Comerica (NYSE:CMA) Coverage Initiated by Analysts at Jefferies Financial Group

Stock analysts at Jefferies Financial Group initiated coverage on shares of Comerica (NYSE:CMA) in a research report issued on Wednesday,Benzinga reports. The firm set an “underperform” rating and a $47.00 price target on the financial services provider’s stock. Jefferies Financial Group’s price objective would suggest a potential downside of 19.09% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. Robert W. Baird lowered their target price on shares of Comerica from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. downgraded shares of Comerica from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $64.00 to $52.00 in a research note on Tuesday, April 22nd. Wells Fargo & Company dropped their price objective on shares of Comerica from $67.00 to $55.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 22nd. Stephens lowered shares of Comerica from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $66.00 to $64.00 in a research note on Monday, March 31st. Finally, DA Davidson lowered their target price on Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $62.37.

Comerica Trading Down 0.9%

Shares of Comerica stock opened at $58.09 on Wednesday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica has a twelve month low of $45.32 and a twelve month high of $73.45. The firm has a market capitalization of $7.63 billion, a PE ratio of 11.57 and a beta of 0.92. The firm’s 50-day moving average price is $55.60 and its 200 day moving average price is $61.96.

Comerica (NYSE:CMA) last released its earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.11. The business had revenue of $829.00 million for the quarter, compared to the consensus estimate of $839.31 million. 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 $1.29 earnings per share. On average, sell-side analysts predict that Comerica will post 5.28 EPS for the current fiscal year.

Institutional Trading of Comerica

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Independent Advisor Alliance purchased a new position in Comerica during the fourth quarter worth about $206,000. Bank of Nova Scotia acquired a new position in shares of Comerica in the 4th quarter worth approximately $1,320,000. Jupiter Asset Management Ltd. purchased a new position in shares of Comerica during the 4th quarter worth approximately $82,419,000. Franklin Resources Inc. increased its holdings in Comerica by 251.1% in the 4th quarter. Franklin Resources Inc. now owns 51,573 shares of the financial services provider’s stock valued at $3,190,000 after purchasing an additional 36,883 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its position 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 purchasing an additional 7,408 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

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.