Comerica (NYSE:CMA) Price Target Raised to $70.00

Comerica (NYSE:CMA) had its price objective boosted by Stephens from $64.00 to $70.00 in a research note published on Monday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

Other equities analysts also recently issued research reports about the company. Wedbush upgraded Comerica from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $52.00 to $75.00 in a research report on Tuesday, September 24th. Bank of America lowered Comerica from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $55.00 to $52.00 in a research note on Monday, October 7th. Wells Fargo & Company boosted their target price on shares of Comerica from $43.00 to $51.00 and gave the company an “underweight” rating in a research note on Monday. StockNews.com cut shares of Comerica from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. Finally, Evercore ISI boosted their price target on shares of Comerica from $58.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $62.57.

Comerica Stock Down 0.5 %

CMA opened at $62.00 on Monday. The company has a market capitalization of $8.22 billion, a P/E ratio of 12.33 and a beta of 1.23. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96. The firm’s fifty day moving average price is $58.28 and its two-hundred day moving average price is $53.90. Comerica has a fifty-two week low of $37.48 and a fifty-two week high of $66.06.

Comerica (NYSE:CMA) last posted its earnings results 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. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $806.49 million. During the same quarter in the previous year, the firm posted $1.84 earnings per share. On average, analysts anticipate that Comerica will post 5.12 EPS for the current year.

Insider Buying and Selling

In other Comerica 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 transaction, the executive vice president now directly owns 27,910 shares in the company, valued at approximately $1,605,104.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

A number of institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in Comerica by 51.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock valued at $206,468,000 after acquiring an additional 1,370,886 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Comerica by 1.1% during the second 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. Bank of New York Mellon Corp increased its holdings in Comerica by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 1,533,857 shares of the financial services provider’s stock valued at $78,288,000 after purchasing an additional 130,458 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Comerica by 6.5% in the second quarter. Thrivent Financial for Lutherans now owns 1,431,750 shares of the financial services provider’s stock valued at $73,077,000 after purchasing an additional 87,101 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Comerica by 21.0% in the first quarter. Jacobs Levy Equity Management Inc. now owns 923,009 shares of the financial services provider’s stock valued at $50,756,000 after buying an additional 160,103 shares during the period. 80.74% of the stock is owned by institutional investors.

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.