Barclays Lowers Comerica (NYSE:CMA) Price Target to $56.00

Comerica (NYSE:CMA) had its price target reduced by analysts at Barclays from $59.00 to $56.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. Barclays‘s price target indicates a potential upside of 7.49% from the company’s previous close.

A number of other equities analysts have also weighed in on CMA. Wells Fargo & Company cut their price objective on shares of Comerica from $48.00 to $45.00 and set an “underweight” rating for the company in a research report on Wednesday, June 12th. Royal Bank of Canada cut their price objective on shares of Comerica from $62.00 to $58.00 and set an “outperform” rating for the company in a research report on Wednesday, June 12th. Truist Financial lowered shares of Comerica from a “buy” rating to a “hold” rating and cut their price objective for the company from $55.00 to $53.00 in a research report on Monday. Evercore ISI cut their price objective on shares of Comerica from $58.00 to $54.00 and set an “in-line” rating for the company in a research report on Tuesday, June 25th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Comerica from $62.00 to $57.00 and set a “neutral” rating for the company in a research report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $55.35.

Comerica Stock Performance

Shares of CMA opened at $52.10 on Monday. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 1.23. The stock has a market cap of $6.91 billion, a P/E ratio of 10.36 and a beta of 1.25. The company has a 50-day moving average of $50.74 and a two-hundred day moving average of $51.66. Comerica has a 12-month low of $37.40 and a 12-month high of $58.50.

Comerica (NYSE:CMA) last announced its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.30. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $812.79 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same quarter in the previous year, the business posted $2.01 earnings per share. As a group, research analysts predict that Comerica will post 5.01 EPS for the current fiscal year.

Institutional Investors Weigh In On Comerica

Large investors have recently made changes to their positions in the business. Entropy Technologies LP acquired a new stake in shares of Comerica in the first quarter worth $1,764,000. Raymond James & Associates increased its position in shares of Comerica by 18.1% in the fourth quarter. Raymond James & Associates now owns 203,324 shares of the financial services provider’s stock worth $11,348,000 after acquiring an additional 31,125 shares in the last quarter. Avaii Wealth Management LLC acquired a new stake in shares of Comerica in the fourth quarter worth $679,000. NewEdge Wealth LLC acquired a new stake in shares of Comerica in the fourth quarter worth $10,068,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Comerica in the fourth quarter worth $891,000. Institutional investors and hedge funds 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.