Comerica Incorporated (NYE:CMA), a financial services provider, experienced a 6.1% increase in short interest in April, with 9,780,000 shares sold short as of April 15th, up from 9,220,000 shares on March 31st. The days-to-cover ratio based on the average daily trading volume of 3,640,000 shares is presently 2.7 days. Around 7.5% of the stock’s shares are sold short. Shares of CMA opened at $42.50 on Tuesday, down 2.0%. The company has a 12-month high of $87.02 and a low of $29.17. Comerica’s market capitalization stands at $5.59 billion with a P/E ratio of 4.48, a P/E/G ratio of 1.18, and a beta of 1.14. Analysts predict that the firm will post earnings of $8.18 per share for the current year.
Several research analysts have made rating changes on Comerica’s stock recently. Morgan Stanley reduced the price objective on shares from $85.00 to $52.00 and gave an “equal weight” rating to the stock in an April 5th report. Robert W. Baird also reduced the price objective from $90.00 to $80.00 and give an “outperform” rating in an April 21st report. Citigroup lowered their price objective from $90.00 to $55.00 and gave a “buy” rating in the same report. Currently, Comerica has a consensus rating of “Buy” and an average target price of $70.88 according to data from STA Research.
CMA Stock Analysis & Forecast
Comerica Inc has an average analyst target price of USD 70.88 over the next 12 months, according to 27 analysts. The average analyst rating for the company is “Buy”. Stock Target Advisor’s analysis of Comerica stock is “Slightly Bullish” based on six positive signals and five negative signals. Comerica Inc’s stock closed at USD 37.22, having decreased by 8.57% in the past week, 14.28% in the past month, and 54.78% in the last year.
Business Profile
Comerica Incorporated is a financial services company that provides various financial products and services through its subsidiaries. The company operates through different segments, including Commercial Bank, Retail Bank, Wealth Management, and Finance. The Commercial Bank segment offers commercial loans and lines of credit, deposits, cash management, and other services to small and middle-market businesses, multinational corporations, and governmental entities. The Retail Bank segment provides personal financial services, such as consumer lending and deposit gathering. The Wealth Management segment offers fiduciary, private banking, investment management and advisory, and investment banking and brokerage services. The Finance segment engages in securities portfolio and asset and liability management activities. Comerica operates in several states in the US, Canada, and Mexico, and was founded in 1849.
