Barclays Raises Comerica (NYSE:CMA) Price Target to $66.00

Comerica (NYSE:CMA) had its target price boosted by stock analysts at Barclays from $56.00 to $66.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has an “underweight” rating on the financial services provider’s stock. Barclays‘s target price points to a potential upside of 1.65% from the stock’s previous close.

Several other research analysts have also issued reports on the stock. Bank of America lowered shares of Comerica from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $55.00 to $52.00 in a research note on Monday, October 7th. Keefe, Bruyette & Woods raised shares of Comerica from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $50.00 to $69.00 in a research report on Thursday, September 5th. Stephens reaffirmed an “overweight” rating and issued a $58.00 target price on shares of Comerica in a research report on Tuesday, September 10th. Truist Financial increased their price target on Comerica from $53.00 to $66.00 and gave the stock a “hold” rating in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. raised their price objective on Comerica from $57.00 to $65.00 and gave the company a “neutral” rating in a research note on Wednesday, October 9th. Four research 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $60.10.

Comerica Stock Down 0.0 %

Shares of NYSE:CMA opened at $64.93 on Monday. Comerica has a 1 year low of $37.40 and a 1 year high of $66.06. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96. The business’s 50-day moving average is $57.96 and its 200-day moving average is $53.77. The company has a market capitalization of $8.61 billion, a price-to-earnings ratio of 12.91 and a beta of 1.23.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.16. The firm had revenue of $1.26 billion for 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 in the previous year, the firm earned $1.84 earnings per share. Equities research analysts predict that Comerica will post 5.12 earnings per share for the current year.

Insider Activity

In related news, EVP Christine M. Moore sold 2,545 shares of Comerica 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 sale, the executive vice president now directly owns 27,910 shares in the company, valued at approximately $1,605,104.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Comerica

Several large investors have recently made changes to their positions in CMA. Vest Financial LLC boosted its holdings in shares of Comerica by 6.6% in the 3rd quarter. Vest Financial LLC now owns 24,716 shares of the financial services provider’s stock worth $1,481,000 after buying an additional 1,523 shares during the last quarter. OLD National Bancorp IN boosted its stake in Comerica by 2.2% in the third quarter. OLD National Bancorp IN now owns 242,798 shares of the financial services provider’s stock valued at $14,546,000 after acquiring an additional 5,148 shares during the last quarter. Blue Trust Inc. grew its position in shares of Comerica by 34.2% during the 3rd quarter. Blue Trust Inc. now owns 3,840 shares of the financial services provider’s stock valued at $230,000 after acquiring an additional 978 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Comerica during the 3rd quarter worth approximately $36,000. Finally, Bleakley Financial Group LLC raised its holdings in shares of Comerica by 8.5% in the 3rd quarter. Bleakley Financial Group LLC now owns 4,478 shares of the financial services provider’s stock worth $268,000 after purchasing an additional 351 shares during the period. 80.74% of the stock is 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.