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

Comerica (NYSE:CMA) had its target price lifted by analysts at Truist Financial from $53.00 to $66.00 in a report released on Friday, Benzinga reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. Truist Financial’s target price points to a potential upside of 8.61% from the company’s previous close.

A number of other research analysts also recently weighed in on the company. The Goldman Sachs Group cut their price target on Comerica from $69.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, June 4th. StockNews.com upgraded Comerica from a “sell” rating to a “hold” rating in a report on Monday. Piper Sandler upped their price target on Comerica from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Keefe, Bruyette & Woods raised shares of Comerica from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $50.00 to $69.00 in a research note on Thursday, September 5th. Finally, Raymond James raised shares of Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research note on Tuesday, July 2nd. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $56.32.

Comerica Trading Down 0.6 %

Shares of CMA stock traded down $0.35 on Friday, reaching $60.77. 358,588 shares of the stock were exchanged, compared to its average volume of 2,177,475. The stock has a 50 day moving average price of $55.11 and a 200 day moving average price of $52.57. The stock has a market cap of $8.06 billion, a PE ratio of 12.08 and a beta of 1.23. Comerica has a one year low of $37.40 and a one year high of $61.74. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96.

Comerica (NYSE:CMA) last released its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $812.79 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same period in the prior year, the company posted $2.01 EPS. Equities research analysts forecast that Comerica will post 5.05 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the sale, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Family Firm Inc. bought a new stake in shares of Comerica during the second quarter worth approximately $37,000. UMB Bank n.a. boosted its stake in Comerica by 39.3% in the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 208 shares during the period. Versant Capital Management Inc grew its holdings in Comerica by 2,723.3% in the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after buying an additional 817 shares in the last quarter. Abich Financial Wealth Management LLC increased its position in Comerica by 50.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after buying an additional 300 shares during the period. Finally, Rothschild Investment LLC acquired a new stake in shares of Comerica during the second quarter worth $56,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

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.