Comerica (NYSE:CMA) PT Raised to $51.00 at Wells Fargo & Company

Comerica (NYSE:CMA) had its target price upped by equities research analysts at Wells Fargo & Company from $43.00 to $51.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has an “underweight” rating on the financial services provider’s stock. Wells Fargo & Company‘s price target indicates a potential downside of 18.14% from the stock’s current price.

A number of other analysts also recently weighed in on the stock. Raymond James upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a research note on Tuesday, July 2nd. DA Davidson reissued a “neutral” rating and issued a $55.00 price target on shares of Comerica in a research report on Tuesday, September 10th. Keefe, Bruyette & Woods raised Comerica from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $50.00 to $69.00 in a report on Thursday, September 5th. Morgan Stanley raised their price target on Comerica from $61.00 to $63.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. Finally, Evercore ISI increased their price objective on shares of Comerica from $58.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $62.57.

Comerica Price Performance

Shares of CMA stock opened at $62.30 on Monday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $8.26 billion, a P/E ratio of 12.39 and a beta of 1.23. The business’s 50 day moving average price is $58.13 and its 200-day moving average price is $53.83. Comerica has a fifty-two week low of $37.40 and a fifty-two week high of $66.06.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.16. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $806.49 million. During the same period in the previous year, the firm posted $1.84 EPS. On average, equities research analysts anticipate that Comerica will post 5.12 earnings per share for the current year.

Insider Buying and Selling at Comerica

In related news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction on 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 transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its holdings in Comerica by 51.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock valued at $206,468,000 after buying an additional 1,370,886 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Comerica by 1.1% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,834,304 shares of the financial services provider’s stock valued at $93,621,000 after purchasing an additional 19,068 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Comerica by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,857 shares of the financial services provider’s stock worth $78,288,000 after buying an additional 130,458 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Comerica by 6.5% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,431,750 shares of the financial services provider’s stock valued at $73,077,000 after buying an additional 87,101 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Comerica by 21.0% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 923,009 shares of the financial services provider’s stock valued at $50,756,000 after acquiring an additional 160,103 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

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.