Comerica (NYSE:CMA) PT Raised to $71.00

Comerica (NYSE:CMA) had its price target increased by investment analysts at The Goldman Sachs Group from $63.00 to $71.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target would suggest a potential upside of 14.52% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. Evercore ISI boosted their target price on shares of Comerica from $58.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Truist Financial lifted their price target on shares of Comerica from $66.00 to $70.00 and gave the company a “hold” rating in a report on Monday. Stephens upped their price objective on Comerica from $64.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday. DA Davidson lifted their target price on Comerica from $64.00 to $68.00 and gave the company a “neutral” rating in a report on Monday. Finally, Wells Fargo & Company boosted their price target on Comerica from $43.00 to $51.00 and gave the company an “underweight” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Comerica currently has a consensus rating of “Hold” and an average price target of $62.57.

Comerica Trading Down 0.5 %

Shares of CMA opened at $62.00 on Tuesday. Comerica has a fifty-two week low of $37.48 and a fifty-two week high of $66.06. The stock has a fifty day moving average of $58.28 and a two-hundred day moving average of $53.90. 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 company has a market capitalization of $8.22 billion, a PE ratio of 12.33 and a beta of 1.23.

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. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $806.49 million. During the same period in the prior year, the firm posted $1.84 earnings per share. As a group, analysts forecast 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 value of $146,362.95. Following the completion of the transaction, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at $1,605,104.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CMA. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Comerica by 12.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,847 shares of the financial services provider’s stock valued at $4,801,000 after purchasing an additional 9,052 shares in the last quarter. CWC Advisors LLC. bought a new stake in shares of Comerica in the third quarter worth $424,000. Assenagon Asset Management S.A. raised its holdings in Comerica by 97.2% in the third quarter. Assenagon Asset Management S.A. now owns 435,085 shares of the financial services provider’s stock valued at $26,066,000 after acquiring an additional 214,426 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Comerica in the third quarter valued at $11,091,000. Finally, Plan Group Financial LLC boosted its stake in Comerica by 15.6% during the 3rd quarter. Plan Group Financial LLC now owns 12,886 shares of the financial services provider’s stock valued at $772,000 after acquiring an additional 1,739 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

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.