Comerica (NYSE:CMA) Price Target Raised to $69.00

Comerica (NYSE:CMA) had its price objective upped by Evercore ISI from $64.00 to $69.00 in a report published on Wednesday, Benzinga reports. The brokerage currently has an in-line rating on the financial services provider’s stock.

CMA has been the subject of a number of other reports. Truist Financial boosted their price objective on Comerica from $66.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, October 21st. Piper Sandler raised their price objective on Comerica from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Bank of America lowered shares of Comerica from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $55.00 to $52.00 in a research note on Monday, October 7th. Wedbush raised shares of Comerica from a “neutral” rating to an “outperform” rating and raised their price target for the company from $52.00 to $75.00 in a research report on Tuesday, September 24th. Finally, Keefe, Bruyette & Woods upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $50.00 to $69.00 in a research note on Thursday, September 5th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $62.81.

Comerica Trading Up 2.8 %

NYSE CMA opened at $64.48 on Wednesday. The business has a 50 day moving average price of $59.15 and a 200-day moving average price of $54.32. Comerica has a 52 week low of $38.43 and a 52 week high of $66.06. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. The company has a market cap of $8.55 billion, a price-to-earnings ratio of 12.82 and a beta of 1.23.

Comerica (NYSE:CMA) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.16. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $806.49 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same period last year, the firm earned $1.84 earnings per share. As a group, equities analysts expect that Comerica will post 5.12 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Christine M. Moore sold 2,545 shares of the stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the sale, the executive vice president now owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP James Harry Weber sold 6,500 shares of Comerica stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $63.23, for a total transaction of $410,995.00. Following the completion of the sale, the executive vice president now owns 15,773 shares of the company’s stock, valued at approximately $997,326.79. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the completion of the sale, the executive vice president now directly owns 27,910 shares in the company, valued at approximately $1,605,104.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 16,609 shares of company stock worth $1,027,839. 0.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Comerica

Institutional investors and hedge funds have recently bought and sold shares of the stock. HB Wealth Management LLC raised its position in shares of Comerica by 7.5% during the 1st quarter. HB Wealth Management LLC now owns 5,128 shares of the financial services provider’s stock valued at $282,000 after buying an additional 356 shares in the last quarter. Mission Wealth Management LP raised its position in Comerica by 11.3% during the first quarter. Mission Wealth Management LP now owns 6,322 shares of the financial services provider’s stock valued at $348,000 after purchasing an additional 644 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in Comerica by 13.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,189 shares of the financial services provider’s stock worth $3,375,000 after purchasing an additional 7,418 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Comerica by 79.2% in the 1st quarter. BNP Paribas Financial Markets now owns 346,804 shares of the financial services provider’s stock worth $19,071,000 after purchasing an additional 153,301 shares in the last quarter. Finally, Blackhawk Capital Partners LLC. bought a new position in shares of Comerica during the 1st quarter valued at about $204,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

About Comerica

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.