Comerica (NYSE:CMA) Price Target Lowered to $77.00 at Keefe, Bruyette & Woods

Comerica (NYSE:CMA) had its price objective reduced by equities research analysts at Keefe, Bruyette & Woods from $82.00 to $77.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective points to a potential upside of 21.72% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Evercore ISI lifted their target price on Comerica from $64.00 to $69.00 and gave the stock an “in-line” rating in a report on Wednesday, October 30th. DA Davidson increased their price target on Comerica from $64.00 to $68.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. decreased 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. Wells Fargo & Company raised Comerica from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $51.00 to $73.00 in a report on Friday, November 15th. Finally, StockNews.com raised Comerica from a “sell” rating to a “hold” rating in a report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $68.33.

Comerica Stock Up 1.2 %

Shares of CMA opened at $63.26 on Thursday. The business’s 50 day moving average is $65.56 and its 200 day moving average is $60.88. The company has a market capitalization of $8.32 billion, a PE ratio of 12.60 and a beta of 1.26. Comerica has a 12-month low of $45.32 and a 12-month high of $73.45. 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 (NYSE:CMA) last released its quarterly earnings data 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 return on equity of 12.04% and a net margin of 13.98%. During the same period in the prior year, the company posted $1.46 earnings per share. Research analysts expect that Comerica will post 5.36 earnings per share for the current fiscal year.

Comerica announced that its board has approved a share buyback plan on Tuesday, November 5th that allows the company to repurchase 10,000,000 outstanding shares. This repurchase authorization allows the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Comerica

In other news, EVP Allysun C. Fleming sold 1,392 shares of Comerica stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $68.83, for a total value of $95,811.36. Following the completion of the sale, the executive vice president now directly owns 8,730 shares of the company’s stock, valued at approximately $600,885.90. The trade was a 13.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

Institutional investors have recently modified their holdings of the company. Trust Co. of Vermont grew its stake in shares of Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after buying an additional 321 shares in the last quarter. Luken Investment Analytics LLC acquired a new position in Comerica during the 4th quarter worth $31,000. V Square Quantitative Management LLC acquired a new position in Comerica during the 3rd quarter worth $36,000. MCF Advisors LLC grew its stake 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 purchasing an additional 228 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in Comerica during the 3rd quarter worth $42,000. 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.