Comerica (NYSE:CMA) Price Target Increased to $66.00 by Analysts at Truist Financial

Comerica (NYSE:CMA) had its price target hoisted by equities research analysts at Truist Financial from $53.00 to $66.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price target points to a potential upside of 7.33% from the stock’s previous close.

Several other research firms have also recently commented on CMA. Wells Fargo & Company reduced their target price on Comerica from $48.00 to $45.00 and set an “underweight” rating for the company in a research note on Wednesday, June 12th. Royal Bank of Canada dropped their price target on Comerica from $58.00 to $56.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Keefe, Bruyette & Woods raised Comerica from a “market perform” rating to an “outperform” rating and upped their price target for the company from $50.00 to $69.00 in a research report on Thursday, September 5th. Stephens reissued an “overweight” rating and set a $58.00 price target on shares of Comerica in a research report on Tuesday, September 10th. Finally, JPMorgan Chase & Co. dropped their price target on Comerica from $62.00 to $57.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $56.32.

Comerica Stock Up 0.6 %

NYSE CMA opened at $61.49 on Friday. The stock has a market cap of $8.15 billion, a PE ratio of 12.22 and a beta of 1.23. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. The business has a 50 day moving average price of $55.23 and a two-hundred day moving average price of $52.65. Comerica has a fifty-two week low of $37.40 and a fifty-two week high of $61.74.

Comerica (NYSE:CMA) last released its earnings results on Friday, July 19th. The financial services provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.19 by $0.30. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $812.79 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 $2.01 EPS. As a group, sell-side analysts predict that Comerica will post 5.05 EPS for the current fiscal year.

Insider Activity

In other news, EVP Christine M. Moore sold 2,545 shares of the firm’s 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 transaction, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at $1,605,104.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Family Firm Inc. acquired a new position in shares of Comerica during the second quarter valued at $37,000. UMB Bank n.a. boosted its stake in Comerica by 39.3% during the second quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after buying an additional 208 shares in the last quarter. Versant Capital Management Inc boosted its stake in Comerica by 2,723.3% during the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after buying an additional 817 shares in the last quarter. Abich Financial Wealth Management LLC boosted its stake in Comerica by 50.2% during the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after buying an additional 300 shares in the last quarter. Finally, Summit Securities Group LLC boosted its stake in Comerica by 22.4% during the second quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock valued at $56,000 after buying an additional 202 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

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.