Comerica (NYSE:CMA) Price Target Raised to $71.00

Comerica (NYSE:CMA) had its target price boosted by The Goldman Sachs Group from $63.00 to $71.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on CMA. Raymond James upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research report on Tuesday, July 2nd. Royal Bank of Canada reduced their price objective on Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Wells Fargo & Company upped their target price on Comerica from $43.00 to $51.00 and gave the stock an “underweight” rating in a research report on Monday. StockNews.com raised Comerica from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Truist Financial raised their price objective on shares of Comerica from $66.00 to $70.00 and gave the company a “hold” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $62.57.

Comerica Stock Performance

Shares of Comerica stock opened at $62.92 on Tuesday. The stock has a market cap of $8.34 billion, a PE ratio of 12.51 and a beta of 1.23. Comerica has a 12 month low of $37.48 and a 12 month high of $66.06. 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 fifty day simple moving average of $58.59 and a 200-day simple moving average of $54.02.

Comerica (NYSE:CMA) last announced its quarterly earnings data 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. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $806.49 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period last year, the company posted $1.84 EPS. On average, sell-side analysts anticipate that Comerica will post 5.12 EPS for the current fiscal year.

Insider Buying and Selling at Comerica

In other news, EVP Bruce Mitchell sold 7,564 shares of the business’s stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $62.20, for a total transaction of $470,480.80. Following the transaction, the executive vice president now owns 16,428 shares in the company, valued at approximately $1,021,821.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 27,910 shares in the company, valued at approximately $1,605,104.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Bruce Mitchell sold 7,564 shares of the business’s stock in a transaction that occurred on Tuesday, October 22nd. The shares were sold at an average price of $62.20, for a total value of $470,480.80. Following the sale, the executive vice president now owns 16,428 shares in the company, valued at approximately $1,021,821.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

Institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC bought a new position in shares of Comerica during the 3rd quarter worth about $36,000. Family Firm Inc. acquired a new position in Comerica in the second quarter worth about $37,000. UMB Bank n.a. lifted 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 worth $38,000 after purchasing an additional 208 shares during the period. Versant Capital Management Inc boosted its holdings 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 purchasing an additional 817 shares in the last quarter. Finally, Abich Financial Wealth Management LLC grew its stake in shares of Comerica by 50.2% in the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 300 shares during the period. Institutional investors and hedge funds 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.