Comerica Incorporated (NYSE:CMA) Receives $59.62 Average PT from Brokerages

Shares of Comerica Incorporated (NYSE:CMA) have been given a consensus rating of “Hold” by the twenty-two research firms that are covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and eight have issued a buy recommendation on the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $62.57.

CMA has been the subject of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Comerica from $43.00 to $51.00 and gave the stock an “underweight” rating in a report on Monday. Truist Financial boosted their price objective on Comerica from $66.00 to $70.00 and gave the company a “hold” rating in a report on Monday. StockNews.com raised Comerica from a “sell” rating to a “hold” rating in a report on Monday. Morgan Stanley lifted their target price on Comerica from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Wedbush raised Comerica from a “neutral” rating to an “outperform” rating and upped their price target for the company from $52.00 to $75.00 in a research report on Tuesday, September 24th.

Insider Buying and Selling

In other news, EVP Christine M. Moore sold 2,545 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the completion of the sale, the executive vice president now owns 27,910 shares in the company, valued at approximately $1,605,104.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by insiders.

Institutional Trading of Comerica

Several institutional investors and hedge funds have recently bought and sold shares of the stock. OLD National Bancorp IN boosted its holdings in shares of Comerica by 4.9% in the second quarter. OLD National Bancorp IN now owns 237,650 shares of the financial services provider’s stock worth $12,130,000 after buying an additional 11,049 shares during the period. Entropy Technologies LP purchased a new stake in shares of Comerica in the 1st quarter valued at approximately $1,764,000. SG Americas Securities LLC boosted its stake in Comerica by 66.2% in the 2nd quarter. SG Americas Securities LLC now owns 62,868 shares of the financial services provider’s stock worth $3,209,000 after purchasing an additional 25,040 shares during the period. Assenagon Asset Management S.A. grew its position in Comerica by 39.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 220,659 shares of the financial services provider’s stock worth $11,262,000 after purchasing an additional 62,269 shares in the last quarter. Finally, LSV Asset Management grew its position in Comerica by 13.6% during the 1st quarter. LSV Asset Management now owns 835,389 shares of the financial services provider’s stock worth $45,938,000 after purchasing an additional 100,189 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Trading Up 0.4 %

NYSE:CMA opened at $62.30 on Friday. The stock has a market cap of $8.26 billion, a price-to-earnings ratio of 12.39 and a beta of 1.23. Comerica has a one year low of $37.40 and a one year high of $66.06. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. The business’s 50-day simple moving average is $58.13 and its 200 day simple moving average is $53.83.

Comerica (NYSE:CMA) last released its earnings results on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.17 by $0.16. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $806.49 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period in the prior year, the business posted $1.84 EPS. As a group, sell-side analysts predict that Comerica will post 5.12 earnings per share for the current fiscal year.

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.