Truist Financial Raises Comerica (NYSE:CMA) Price Target to $70.00

Comerica (NYSE:CMA) had its target price upped by Truist Financial from $66.00 to $70.00 in a report released on Monday morning, Benzinga reports. Truist Financial currently has a hold rating on the financial services provider’s stock.

Several other equities analysts have also issued reports on the stock. Wedbush raised shares of Comerica from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $52.00 to $75.00 in a report on Tuesday, September 24th. Royal Bank of Canada decreased their price target on shares of Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Keefe, Bruyette & Woods upgraded Comerica from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $50.00 to $69.00 in a research note on Thursday, September 5th. Raymond James upgraded Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price target on the stock in a research note on Tuesday, July 2nd. Finally, StockNews.com cut Comerica from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Comerica presently has a consensus rating of “Hold” and a consensus target price of $62.57.

Comerica Stock Down 0.5 %

Shares of NYSE CMA opened at $62.00 on Monday. Comerica has a 12-month low of $37.48 and a 12-month high of $66.06. The stock’s fifty day simple moving average is $58.28 and its two-hundred day simple moving average is $53.90. The stock has a market capitalization of $8.22 billion, a PE ratio of 12.33 and a beta of 1.23. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23.

Comerica (NYSE:CMA) last issued its quarterly earnings data 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. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $806.49 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same quarter last year, the company earned $1.84 earnings per share. As a group, analysts expect that Comerica will post 5.12 EPS for the current fiscal year.

Insider Transactions at Comerica

In related news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was 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 owns 27,910 shares of the company’s stock, 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 can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD increased its stake in shares of Comerica by 105.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 182,402 shares of the financial services provider’s stock worth $10,031,000 after purchasing an additional 3,595,036 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in 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 buying an additional 1,370,886 shares in the last quarter. Samlyn Capital LLC acquired a new position in shares of Comerica during the second quarter valued at approximately $35,375,000. Principal Financial Group Inc. lifted its position in shares of Comerica by 311.2% in the second quarter. Principal Financial Group Inc. now owns 663,100 shares of the financial services provider’s stock valued at $33,845,000 after acquiring an additional 501,857 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its stake in shares of Comerica by 183.5% in the second quarter. Hsbc Holdings PLC now owns 548,786 shares of the financial services provider’s stock worth $27,608,000 after acquiring an additional 355,229 shares during the last quarter. 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.