Comerica (NYSE:CMA) PT Raised to $68.00 at DA Davidson

Comerica (NYSE:CMA) had its price target hoisted by analysts at DA Davidson from $64.00 to $68.00 in a research report issued on Monday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price objective would suggest a potential upside of 9.15% from the stock’s current price.

A number of other research analysts have also commented on the stock. Truist Financial boosted their price target on shares of Comerica from $66.00 to $70.00 and gave the company a “hold” rating in a research report on Monday. Evercore ISI boosted their target price on Comerica from $58.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. 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. Royal Bank of Canada dropped their price target on Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Finally, Bank of America cut shares of Comerica from a “neutral” rating to an “underperform” rating and decreased their price objective for the stock from $55.00 to $52.00 in a research report on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $62.57.

Comerica Stock Up 0.4 %

Shares of NYSE CMA opened at $62.30 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. The company has a market cap of $8.26 billion, a P/E ratio of 12.39 and a beta of 1.23. Comerica has a 52 week low of $37.40 and a 52 week high of $66.06. The business has a 50-day simple moving average of $58.13 and a two-hundred day simple moving average of $53.83.

Comerica (NYSE:CMA) last released its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.16. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $806.49 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same period last year, the business earned $1.84 earnings per share. Research analysts anticipate that Comerica will post 5.12 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the transaction, the executive vice president now directly owns 27,910 shares in the company, valued at $1,605,104.10. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Comerica

Institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new position in shares of Comerica in the third quarter worth $36,000. Family Firm Inc. bought a new stake in Comerica in the 2nd quarter worth $37,000. UMB Bank n.a. increased its position in shares of Comerica by 39.3% in the second quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 208 shares during the period. Versant Capital Management Inc increased its position in shares of Comerica by 2,723.3% in the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 817 shares during the period. Finally, Abich Financial Wealth Management LLC raised its stake in shares of Comerica by 50.2% during the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 300 shares during the last quarter. Hedge funds and other institutional investors 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.