Comerica (NYSE:CMA) Now Covered by UBS Group

Equities researchers at UBS Group assumed coverage on shares of Comerica (NYSE:CMA – Get Rating) in a report released on Wednesday, The Fly reports. The brokerage set a “buy” rating and a $68.00 price target on the financial services provider’s stock. UBS Group’s price objective would indicate a potential upside of 42.83% from the stock’s current price.

A number of other equities research analysts also recently weighed in on CMA. Wells Fargo & Company lowered their target price on shares of Comerica from $77.00 to $72.00 in a research note on Wednesday, December 14th. Piper Sandler lowered their target price on shares of Comerica from $82.00 to $70.00 in a research note on Friday, March 10th. The Goldman Sachs Group raised their target price on shares of Comerica from $75.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, January 23rd. JPMorgan Chase & Co. increased their price target on shares of Comerica from $72.00 to $75.00 and gave the company an “overweight” rating in a research report on Monday, January 23rd. Finally, Raymond James reduced their price target on shares of Comerica from $85.00 to $84.00 and set an “outperform” rating on the stock in a research report on Friday, January 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Comerica currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.15.

Comerica Trading Up 6.2 %

Shares of Comerica stock opened at $47.61 on Wednesday. Comerica has a 12-month low of $29.17 and a 12-month high of $97.52. The company has a market cap of $6.25 billion, a price-to-earnings ratio of 5.80, a PEG ratio of 1.36 and a beta of 1.20. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The company’s 50-day moving average price is $69.09 and its 200-day moving average price is $70.81.

Comerica (NYSE:CMA – Get Rating) last announced its quarterly earnings results on Thursday, January 19th. The financial services provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Comerica had a net margin of 30.72% and a return on equity of 20.75%. During the same period in the prior year, the firm posted $1.66 earnings per share. On average, equities analysts expect that Comerica will post 9.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Cassandra M. Mckinney sold 3,262 shares of the firm’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $72.76, for a total value of $237,343.12. Following the completion of the sale, the executive vice president now owns 6,825 shares of the company’s stock, valued at $496,587. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.76% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Comerica

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ronald Blue Trust Inc. purchased a new position in Comerica during the second quarter valued at $27,000. Baldwin Brothers LLC MA purchased a new position in Comerica during the fourth quarter valued at $27,000. Financial Gravity Asset Management Inc. purchased a new position in Comerica during the third quarter valued at $271,000. Almanack Investment Partners LLC. purchased a new position in Comerica during the third quarter valued at $38,000. Finally, Chilton Capital Management LLC purchased a new position in Comerica during the second quarter valued at $47,000. Hedge funds and other institutional investors own 81.91% of the company’s stock.

About Comerica

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Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance, and Other. 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.