Comerica (NYSE:CMA) Given a $61.00 Price Target by Truist Financial Analysts

Comerica (NYSE:CMA) received a $61.00 price target from Truist Financial in a research note issued to investors on Friday, Marketbeat reports. The firm presently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price would suggest a potential upside of 9.45% from the company’s current price.

CMA has been the topic of a number of other research reports. Royal Bank of Canada dropped their target price on Comerica from $75.00 to $65.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Morgan Stanley cut Comerica from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $63.00 to $55.00 in a research note on Monday, April 7th. Raymond James dropped their price objective on Comerica from $72.00 to $67.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. Keefe, Bruyette & Woods dropped their price target on Comerica from $77.00 to $68.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lowered Comerica from a “neutral” rating to an “underweight” rating and dropped their price target for the stock from $64.00 to $52.00 in a report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $61.95.

Comerica Stock Up 1.4%

Comerica stock traded up $0.74 during mid-day trading on Friday, reaching $55.73. The stock had a trading volume of 418,984 shares, compared to its average volume of 2,151,805. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. Comerica has a fifty-two week low of $45.86 and a fifty-two week high of $73.45. The stock’s 50-day simple moving average is $55.51 and its 200-day simple moving average is $60.38. The firm has a market capitalization of $7.32 billion, a PE ratio of 11.11 and a beta of 0.92.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.14 by $0.11. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The firm had revenue of $829.00 million during the quarter, compared to analysts’ expectations of $839.31 million. During the same quarter last year, the firm posted $1.29 earnings per share. On average, sell-side analysts forecast that Comerica will post 5.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of CMA. Strs Ohio purchased a new stake in Comerica in the first quarter worth approximately $1,174,000. WBI Investments LLC purchased a new stake in Comerica in the first quarter worth approximately $810,000. Geneos Wealth Management Inc. boosted its stake in Comerica by 41.8% in the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $35,000 after buying an additional 176 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Comerica by 2.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 483,992 shares of the financial services provider’s stock worth $28,585,000 after buying an additional 11,268 shares in the last quarter. Finally, Empowered Funds LLC boosted its stake in Comerica by 12.6% in the first quarter. Empowered Funds LLC now owns 6,464 shares of the financial services provider’s stock worth $382,000 after buying an additional 724 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

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.