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

Equities research analysts at Jefferies Financial Group began coverage on shares of Comerica (NYSE:CMA) in a research note issued to investors 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 target price would indicate a potential downside of 19.09% from the company’s current price.

A number of other equities analysts also recently commented on the company. Argus raised Comerica to a “hold” rating in a research report on Friday, January 31st. Evercore ISI cut shares of Comerica from an “in-line” rating to an “underperform” rating and lowered their price target for the stock from $65.00 to $50.00 in a report on Tuesday, April 22nd. Stephens downgraded shares of Comerica from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $66.00 to $64.00 in a research report on Monday, March 31st. Keefe, Bruyette & Woods decreased their price objective on shares of Comerica from $77.00 to $68.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Finally, Robert W. Baird lowered their price objective on Comerica from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $62.37.

Comerica Price Performance

Shares of CMA opened at $58.09 on Wednesday. The company has a market cap of $7.63 billion, a P/E ratio of 11.57 and a beta of 0.92. Comerica has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.11. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The firm had revenue of $829.00 million during the quarter, compared to analyst estimates of $839.31 million. During the same period last year, the business posted $1.29 earnings per share. On average, research analysts forecast that Comerica will post 5.28 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in CMA. Dimensional Fund Advisors LP boosted its holdings in Comerica by 9.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,508,229 shares of the financial services provider’s stock valued at $325,308,000 after purchasing an additional 472,409 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Comerica by 5.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 4,663,441 shares of the financial services provider’s stock valued at $275,423,000 after purchasing an additional 231,885 shares in the last quarter. North Reef Capital Management LP lifted its stake 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 during the period. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Comerica by 3.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider’s stock valued at $153,462,000 after purchasing an additional 72,391 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in Comerica by 9.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,321,494 shares of the financial services provider’s stock worth $137,107,000 after buying an additional 203,333 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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.