Comerica (NYSE:CMA) Price Target Cut to $98.00 by Analysts at Truist Financial

Comerica (NYSE:CMA – Get Rating) had its target price cut by stock analysts at Truist Financial from $103.00 to $98.00 in a research note issued to investors on Wednesday, The Fly reports. Truist Financial’s target price points to a potential upside of 30.95% from the company’s previous close.

CMA has been the topic of several other reports. Citigroup initiated coverage on shares of Comerica in a research report on Thursday, March 24th. They issued a “buy” rating on the stock. Piper Sandler raised shares of Comerica from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $90.00 to $94.00 in a research report on Monday, May 2nd. Raymond James downgraded shares of Comerica from an “outperform” rating to a “market perform” rating in a research report on Thursday, April 21st. StockNews.com downgraded shares of Comerica from a “hold” rating to a “sell” rating in a research report on Friday, May 27th. Finally, The Goldman Sachs Group decreased their target price on shares of Comerica from $104.00 to $93.00 and set a “neutral” rating for the company in a research report on Tuesday, May 31st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $99.10.

NYSE CMA opened at $74.84 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.88 and a quick ratio of 0.88. The company’s 50 day simple moving average is $81.69 and its 200 day simple moving average is $88.18. Comerica has a 12 month low of $63.07 and a 12 month high of $102.09. The company has a market capitalization of $9.79 billion, a P/E ratio of 10.32, a PEG ratio of 1.65 and a beta of 1.33.

Comerica (NYSE:CMA – Get Rating) last released its earnings results on Wednesday, April 20th. The financial services provider reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). The business had revenue of $700.00 million during the quarter, compared to the consensus estimate of $725.36 million. Comerica had a return on equity of 13.85% and a net margin of 33.48%. During the same quarter in the previous year, the firm earned $2.43 earnings per share. On average, analysts anticipate that Comerica will post 7.38 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in the stock. MAI Capital Management acquired a new position in shares of Comerica in the 4th quarter valued at $235,000. CWM LLC acquired a new position in shares of Comerica in the 4th quarter valued at $67,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Comerica by 16.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,129 shares of the financial services provider’s stock valued at $1,403,000 after buying an additional 2,226 shares in the last quarter. SRB Corp acquired a new position in shares of Comerica in the 4th quarter valued at $1,348,000. Finally, Gillson Capital LP acquired a new position in shares of Comerica in the 4th quarter valued at $6,971,000. Hedge funds and other institutional investors own 80.14% of the company’s stock.

Comerica Company Profile (Get Rating)

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It 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, 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.

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