UBS Group Trims Comerica (NYSE:CMA) Target Price to $68.00

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Comerica (NYSE:CMA) had its price objective dropped by UBS Group from $73.00 to $68.00 in a research note issued on Monday, BenzingaRatingsTable reports. The brokerage currently has a “neutral” rating on the financial services provider’s stock. UBS Group’s price target would indicate a potential upside of 3.22% from the company’s current price.

Other research analysts have also issued research reports about the company. DA Davidson reduced their price objective on Comerica from $75.00 to $73.00 and set a “neutral” rating for the company in a research report on Thursday, October 17th. B. Riley reduced their price objective on Comerica from $73.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, October 4th. ValuEngine upgraded Comerica from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. lowered Comerica from a “neutral” rating to an “underweight” rating and reduced their price objective for the company from $70.00 to $65.00 in a research report on Thursday, October 17th. Finally, Barclays reduced their price objective on Comerica from $81.00 to $74.00 and set an “underweight” rating for the company in a research report on Thursday, September 12th. Seven research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $75.34.

NYSE:CMA opened at $65.88 on Monday. Comerica has a 12-month low of $58.54 and a 12-month high of $88.96. The firm has a market capitalization of $9.78 billion, a P/E ratio of 9.10, a P/E/G ratio of 0.52 and a beta of 1.53. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.03 and a quick ratio of 1.02. The business has a 50 day simple moving average of $64.52 and a 200 day simple moving average of $69.55.

Comerica (NYSE:CMA) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.06. Comerica had a return on equity of 16.82% and a net margin of 32.11%. The business had revenue of $842.00 million during the quarter, compared to analyst estimates of $836.10 million. During the same quarter in the previous year, the firm posted $1.86 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. Research analysts anticipate that Comerica will post 7.72 EPS for the current fiscal year.

Institutional investors have recently made changes to their positions in the business. Advisory Services Network LLC grew its position in Comerica by 4.5% during the 2nd quarter. Advisory Services Network LLC now owns 3,450 shares of the financial services provider’s stock worth $251,000 after acquiring an additional 150 shares during the last quarter. Farr Miller & Washington LLC DC raised its position in shares of Comerica by 3.1% during the second quarter. Farr Miller & Washington LLC DC now owns 5,754 shares of the financial services provider’s stock worth $418,000 after purchasing an additional 172 shares during the period. LS Investment Advisors LLC raised its position in shares of Comerica by 3.3% during the second quarter. LS Investment Advisors LLC now owns 5,408 shares of the financial services provider’s stock worth $393,000 after purchasing an additional 172 shares during the period. Crossmark Global Holdings Inc. raised its position in shares of Comerica by 1.7% during the second quarter. Crossmark Global Holdings Inc. now owns 10,775 shares of the financial services provider’s stock worth $783,000 after purchasing an additional 175 shares during the period. Finally, Covington Capital Management raised its position in shares of Comerica by 88.5% during the second quarter. Covington Capital Management now owns 411 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 193 shares during the period. 86.28% of the stock is currently owned by hedge funds and other institutional investors.

About Comerica

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business 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 middle market businesses, multinational corporations, and governmental entities.

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Analyst Recommendations for Comerica (NYSE:CMA)

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