Comerica (NYSE:CMA) Price Target Increased to $63.00 by Analysts at The Goldman Sachs Group

Comerica (NYSE:CMA) had its price target boosted by The Goldman Sachs Group from $55.00 to $63.00 in a report published on Monday, Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

CMA has been the subject of several other reports. Robert W. Baird reduced their price target on Comerica from $72.00 to $68.00 and set an outperform rating for the company in a report on Thursday, June 20th. Stephens reissued an overweight rating and set a $58.00 price target on shares of Comerica in a research report on Tuesday, September 10th. Raymond James raised Comerica from a market perform rating to an outperform rating and set a $60.00 price objective on the stock in a research report on Tuesday, July 2nd. JPMorgan Chase & Co. lowered their price target on Comerica from $62.00 to $57.00 and set a neutral rating on the stock in a report on Thursday, June 27th. Finally, Truist Financial boosted their target price on Comerica from $53.00 to $66.00 and gave the stock a hold rating in a research report on Friday, September 20th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Hold and an average price target of $59.62.

Comerica Stock Up 0.1 %

NYSE:CMA opened at $59.36 on Monday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96. The firm’s 50-day moving average price is $56.71 and its 200-day moving average price is $53.41. The company has a market capitalization of $7.87 billion, a PE ratio of 11.80 and a beta of 1.23. Comerica has a 1-year low of $37.40 and a 1-year high of $61.84.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.19 by $0.30. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $812.79 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same quarter in the prior year, the company earned $2.01 earnings per share. On average, equities analysts predict that Comerica will post 5.06 EPS for the current fiscal year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were issued a dividend of $0.71 per share. The ex-dividend date was Friday, September 13th. This represents a $2.84 annualized dividend and a dividend yield of 4.78%. Comerica’s dividend payout ratio (DPR) is 56.46%.

Insider Activity

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 sale, the executive vice president now owns 27,910 shares of the company’s stock, valued at $1,605,104.10. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

Several hedge funds have recently made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Comerica by 105.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 182,402 shares of the financial services provider’s stock valued at $10,031,000 after purchasing an additional 3,595,036 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Comerica by 51.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock worth $206,468,000 after buying an additional 1,370,886 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Comerica by 51.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock worth $143,109,000 after buying an additional 870,812 shares during the period. Samlyn Capital LLC bought a new position in Comerica during the second quarter valued at $35,375,000. Finally, Vanguard Group Inc. raised its stake in shares of Comerica by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock valued at $941,968,000 after acquiring an additional 676,959 shares during the period. 80.74% of the stock is currently owned by hedge funds and other 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.