Comerica (NYSE:CMA – Get Free Report)’s stock had its “overweight” rating reaffirmed by equities research analysts at Stephens in a note issued to investors on Tuesday, Benzinga reports. They currently have a $54.00 price target on the financial services provider’s stock. Stephens’ price objective indicates a potential upside of 12.22% from the stock’s previous close.

CMA has been the subject of several other reports. Bank of America reduced their target price on Comerica from $52.00 to $44.00 in a report on Tuesday, October 10th. Odeon Capital Group downgraded shares of Comerica from a “buy” rating to a “hold” rating and set a $46.00 target price on the stock. in a research report on Tuesday, September 26th. JPMorgan Chase & Co. decreased their price objective on shares of Comerica from $58.00 to $55.00 and set an “overweight” rating for the company in a research note on Thursday, October 5th. DA Davidson boosted their target price on shares of Comerica from $60.00 to $63.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. Finally, Piper Sandler decreased their target price on Comerica from $48.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, October 23rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Comerica currently has an average rating of “Hold” and an average target price of $53.00.

Check Out Our Latest Analysis on Comerica

Comerica Stock Performance

CMA traded down $1.33 on Tuesday, hitting $48.12. 630,160 shares of the company’s stock were exchanged, compared to its average volume of 2,965,199. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.32. The stock has a fifty day moving average of $41.75 and a two-hundred day moving average of $44.19. Comerica has a twelve month low of $28.40 and a twelve month high of $77.34. The firm has a market cap of $6.35 billion, a PE ratio of 5.47, a P/E/G ratio of 1.48 and a beta of 1.27.

Comerica (NYSE:CMA – Get Free Report) last announced its earnings results on Friday, October 20th. The financial services provider reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.15. The firm had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $880.88 million. Comerica had a return on equity of 23.66% and a net margin of 23.12%. During the same quarter in the previous year, the business earned $2.60 EPS. On average, research analysts anticipate that Comerica will post 7.6 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Comerica

A number of institutional investors have recently bought and sold shares of CMA. Deutsche Bank AG increased its position in shares of Comerica by 1.3% during the 3rd quarter. Deutsche Bank AG now owns 301,920 shares of the financial services provider’s stock worth $12,545,000 after purchasing an additional 3,959 shares in the last quarter. Public Sector Pension Investment Board increased its holdings in Comerica by 12.3% during the 3rd quarter. Public Sector Pension Investment Board now owns 14,072 shares of the financial services provider’s stock valued at $585,000 after purchasing an additional 1,537 shares in the last quarter. Graham Capital Management L.P. bought a new position in Comerica in the 3rd quarter valued at $1,744,000. Comerica Bank boosted its stake in Comerica by 21,786.1% in the third quarter. Comerica Bank now owns 165,459 shares of the financial services provider’s stock worth $6,875,000 after purchasing an additional 164,703 shares in the last quarter. Finally, OLD National Bancorp IN grew its holdings in shares of Comerica by 18.6% during the third quarter. OLD National Bancorp IN now owns 217,276 shares of the financial services provider’s stock worth $9,028,000 after purchasing an additional 34,116 shares during the last quarter. Institutional investors and hedge funds own 81.94% of the company’s stock.

Comerica Company Profile (Get Free Report)

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, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services, as well as payment and card services for small and middle market businesses, multinational corporations, and governmental entities.

Read More

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider Comerica, you’ll want to hear this.

MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Comerica wasn’t on the list.

While Comerica currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

Which stocks are major institutional investors including hedge funds and endowments buying in today’s market? Click the link below and we’ll send you MarketBeat’s list of thirteen stocks that institutional investors are buying up as quickly as they can.

Get This Free Report

Original: MarketBeat News Feed: Comerica (NYSE:CMA) Given “Overweight” Rating at Stephens