Comerica (NYSE:CMA) Price Target Raised to $66.00

Comerica (NYSE:CMA) had its target price hoisted by Barclays from $56.00 to $66.00 in a research report report published on Monday morning, Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

A number of other brokerages also recently issued reports on CMA. StockNews.com downgraded shares of Comerica from a “hold” rating to a “sell” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. increased their price objective on shares of Comerica from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. Stephens reissued an “overweight” rating and set a $58.00 target price on shares of Comerica in a research report on Tuesday, September 10th. DA Davidson reaffirmed a “neutral” rating and issued a $55.00 price target on shares of Comerica in a report on Tuesday, September 10th. Finally, Piper Sandler boosted their price objective on shares of Comerica from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, Comerica has a consensus rating of “Hold” and a consensus target price of $62.57.

Comerica Stock Performance

NYSE CMA opened at $62.00 on Monday. The business’s 50 day moving average price is $58.28 and its 200-day moving average price is $53.90. Comerica has a fifty-two week low of $37.48 and a fifty-two week high of $66.06. The company has a market cap of $8.22 billion, a P/E ratio of 12.33 and a beta of 1.23. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96.

Comerica (NYSE:CMA) last issued its earnings results 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. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $806.49 million. During the same period in the prior year, the firm earned $1.84 EPS. Sell-side analysts predict that Comerica will post 5.12 earnings per share for the current year.

Insider Buying and Selling at Comerica

In other news, EVP Christine M. Moore sold 2,545 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $57.51, for a total transaction 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Comerica

A number of hedge funds and other institutional investors have recently bought and sold shares of CMA. OLD National Bancorp IN boosted its holdings in shares of Comerica by 4.9% in the second quarter. OLD National Bancorp IN now owns 237,650 shares of the financial services provider’s stock valued at $12,130,000 after acquiring an additional 11,049 shares in the last quarter. Entropy Technologies LP acquired a new stake in Comerica in the first quarter valued at about $1,764,000. SG Americas Securities LLC boosted its holdings in Comerica by 66.2% in the 2nd quarter. SG Americas Securities LLC now owns 62,868 shares of the financial services provider’s stock valued at $3,209,000 after purchasing an additional 25,040 shares in the last quarter. Assenagon Asset Management S.A. increased its position in Comerica by 39.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 220,659 shares of the financial services provider’s stock worth $11,262,000 after purchasing an additional 62,269 shares during the period. Finally, LSV Asset Management raised its stake in shares of Comerica by 13.6% during the 1st quarter. LSV Asset Management now owns 835,389 shares of the financial services provider’s stock worth $45,938,000 after buying an additional 100,189 shares in the last quarter. 80.74% of the stock is currently 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.