Comerica (NYSE:CMA) PT Raised to $66.00

Comerica (NYSE:CMA) had its price target lifted by Truist Financial from $53.00 to $66.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target indicates a potential upside of 7.33% from the stock’s current price.

Several other equities research analysts have also commented on CMA. Robert W. Baird decreased their target price on shares of Comerica from $72.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. Raymond James upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a research report on Tuesday, July 2nd. Royal Bank of Canada decreased their price objective on shares of Comerica from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. The Goldman Sachs Group decreased their price objective on shares of Comerica from $69.00 to $62.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. Finally, Keefe, Bruyette & Woods upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $50.00 to $69.00 in a research report on Thursday, September 5th. Two analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.32.

Comerica Stock Performance

Shares of Comerica stock opened at $61.49 on Friday. The firm’s fifty day simple moving average is $55.23 and its 200-day simple moving average is $52.65. The stock has a market capitalization of $8.15 billion, a price-to-earnings ratio of 12.22 and a beta of 1.23. Comerica has a 12 month low of $37.40 and a 12 month high of $61.74. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $812.79 million. During the same period last year, the firm posted $2.01 EPS. As a group, equities analysts forecast that Comerica will post 5.05 earnings per share for the current year.

Insider Activity

In other news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $57.51, for a total transaction of $146,362.95. Following the completion of the transaction, the executive vice president now owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Comerica by 4.2% during the 4th quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock worth $941,968,000 after purchasing an additional 676,959 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Comerica by 51.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock worth $206,468,000 after purchasing an additional 1,370,886 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Comerica by 51.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock worth $143,109,000 after purchasing an additional 870,812 shares during the period. Vaughan Nelson Investment Management L.P. grew its holdings in shares of Comerica by 1.1% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,834,304 shares of the financial services provider’s stock worth $93,621,000 after purchasing an additional 19,068 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Comerica by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,857 shares of the financial services provider’s stock worth $78,288,000 after acquiring an additional 130,458 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

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.