Comerica (NYSE:CMA) PT Lowered to $54.00 at Evercore ISI

Comerica (NYSE:CMA) had its target price decreased by research analysts at Evercore ISI from $58.00 to $54.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s price target indicates a potential upside of 12.92% from the company’s current price.

Several other brokerages also recently commented on CMA. Deutsche Bank Aktiengesellschaft started coverage on Comerica in a research note on Wednesday, April 10th. They set a “hold” rating and a $59.00 target price on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $58.00 target price on shares of Comerica in a research note on Tuesday, June 11th. Citigroup downgraded Comerica from a “buy” rating to a “neutral” rating and cut their target price for the company from $60.00 to $56.00 in a research note on Monday, May 6th. Jefferies Financial Group lowered their price target on Comerica from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Monday, April 8th. Finally, The Goldman Sachs Group lowered their price target on Comerica from $69.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $56.13.

Comerica Stock Performance

Comerica stock opened at $47.82 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $6.34 billion, a P/E ratio of 9.51 and a beta of 1.25. The stock’s 50 day moving average is $50.74 and its 200 day moving average is $52.00. Comerica has a twelve month low of $37.40 and a twelve month high of $57.39.

Comerica (NYSE:CMA) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, beating the consensus estimate of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. During the same period last year, the business posted $2.39 EPS. On average, equities research analysts predict that Comerica will post 5.08 earnings per share for the current fiscal year.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total transaction of $382,381.89. Following the sale, the executive vice president now directly owns 7,236 shares of the company’s stock, valued at $380,541.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Spire Wealth Management grew its position in shares of Comerica by 95.9% during the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 235 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Comerica during the fourth quarter valued at about $36,000. Fortitude Family Office LLC purchased a new position in Comerica in the fourth quarter worth about $36,000. Abich Financial Wealth Management LLC grew its position in Comerica by 50.2% in the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 300 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new position in Comerica in the fourth quarter worth about $50,000. 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.