Comerica (NYSE:CMA) Price Target Increased to $70.00 by Analysts at Truist Financial

Comerica (NYSE:CMA) had its price objective hoisted by investment analysts at Truist Financial from $66.00 to $70.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s price objective would suggest a potential upside of 10.27% from the stock’s previous close.

CMA has been the subject of a number of other reports. The Goldman Sachs Group increased their price target on Comerica from $55.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, October 7th. Piper Sandler boosted their price objective on shares of Comerica from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Bank of America downgraded shares of Comerica from a “neutral” rating to an “underperform” rating and cut their price target for the company from $55.00 to $52.00 in a report on Monday, October 7th. DA Davidson reiterated a “neutral” rating and issued a $55.00 price target on shares of Comerica in a report on Tuesday, September 10th. Finally, Wedbush raised Comerica from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $52.00 to $75.00 in a research report on Tuesday, September 24th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Comerica currently has an average rating of “Hold” and a consensus target price of $61.38.

Comerica Stock Down 2.2 %

CMA stock traded down $1.46 during midday trading on Monday, hitting $63.48. The company’s stock had a trading volume of 484,999 shares, compared to its average volume of 2,151,026. 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 has a 12 month low of $37.40 and a 12 month high of $66.06. The company has a market cap of $8.42 billion, a PE ratio of 12.62 and a beta of 1.23. The firm’s 50-day moving average is $57.96 and its 200-day moving average is $53.77.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, topping 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 firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $806.49 million. During the same period in the previous year, the business posted $1.84 earnings per share. On average, equities research analysts forecast that Comerica will post 5.12 earnings per share for the current fiscal year.

Insider Transactions at Comerica

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the transaction, the executive vice president now directly owns 27,910 shares in the company, valued at $1,605,104.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

Institutional investors have recently modified their holdings of the business. V Square Quantitative Management LLC purchased a new position in Comerica in the 3rd quarter valued at approximately $36,000. Family Firm Inc. purchased a new position in Comerica during the 2nd quarter valued at about $37,000. UMB Bank n.a. lifted its holdings in shares of Comerica by 39.3% in the second quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 208 shares in the last quarter. Versant Capital Management Inc grew its position in shares of Comerica by 2,723.3% in the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 817 shares during the last quarter. Finally, Abich Financial Wealth Management LLC increased its position 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 worth $49,000 after buying an additional 300 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

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.