Comerica (NYSE:CMA) PT Raised to $54.00

Comerica (NYSE:CMAGet Free Report) had its price target increased by equities research analysts at Piper Sandler from $53.00 to $54.00 in a research note issued on Friday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price would suggest a potential upside of 4.73% from the company’s current price.

Other research analysts also recently issued research reports about the company. Truist Financial boosted their target price on Comerica from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, April 1st. Raymond James downgraded shares of Comerica from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Keefe, Bruyette & Woods lowered their target price on shares of Comerica from $60.00 to $58.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. Royal Bank of Canada lifted their price objective on Comerica from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, The Goldman Sachs Group upgraded Comerica from a “neutral” rating to a “buy” rating and set a $70.50 target price on the stock in a research report on Thursday, January 4th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $58.02.

Check Out Our Latest Analysis on Comerica

Comerica Stock Performance

Shares of NYSE CMA opened at $51.56 on Friday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.94. The firm has a market cap of $6.83 billion, a price-to-earnings ratio of 10.25 and a beta of 1.27. The stock’s fifty day moving average price is $51.38 and its two-hundred day moving average price is $49.30. Comerica has a one year low of $28.40 and a one year high of $57.39.

Comerica (NYSE:CMAGet Free Report) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $807.57 million. During the same period in the previous year, the company posted $2.39 earnings per share. On average, equities analysts forecast that Comerica will post 5.09 EPS for the current year.

Insider Transactions at Comerica

In other news, EVP Cassandra M. Mckinney sold 1,616 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.64, for a total value of $88,298.24. Following the completion of the sale, the executive vice president now owns 8,314 shares in the company, valued at approximately $454,276.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Wendy Bridges sold 3,034 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.74, for a total value of $160,013.16. Following the transaction, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the sale, the executive vice president now owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

Several large investors have recently modified their holdings of CMA. First Trust Advisors LP increased its stake in shares of Comerica by 1,192.2% in the first quarter. First Trust Advisors LP now owns 3,878,506 shares of the financial services provider’s stock worth $168,405,000 after purchasing an additional 3,578,355 shares in the last quarter. Norges Bank bought a new position in Comerica in the 4th quarter worth approximately $113,763,000. BlackRock Inc. grew its holdings in Comerica by 9.4% during the 1st quarter. BlackRock Inc. now owns 13,313,998 shares of the financial services provider’s stock valued at $578,094,000 after buying an additional 1,145,951 shares in the last quarter. Azora Capital LP bought a new position in Comerica in the 4th quarter valued at $63,548,000. Finally, Vaughan Nelson Investment Management L.P. boosted its holdings in Comerica by 129.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock valued at $107,716,000 after purchasing an additional 1,088,330 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

About Comerica

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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.

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