Truist Financial Boosts Comerica (NYSE:CMA) Price Target to $70.00

Comerica (NYSE:CMA) had its target price hoisted by Truist Financial from $66.00 to $70.00 in a research report released on Monday, Benzinga reports. They currently have a hold rating on the financial services provider’s stock.

A number of other brokerages also recently weighed in on CMA. Raymond James upgraded Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a research note on Tuesday, July 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Comerica from $57.00 to $65.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 9th. Morgan Stanley increased their target price on shares of Comerica from $61.00 to $63.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Evercore ISI lifted their price target on shares of Comerica from $58.00 to $64.00 and gave the stock an “in-line” rating in a report on Wednesday, October 2nd. Finally, DA Davidson reiterated a “neutral” rating and set a $55.00 price objective on shares of Comerica in a report on Tuesday, September 10th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $62.57.

Comerica Trading Up 1.5 %

NYSE:CMA opened at $62.92 on Monday. The firm has a 50-day simple moving average of $58.59 and a 200-day simple moving average of $54.02. Comerica has a one year low of $37.48 and a one year high of $66.06. The firm has a market cap of $8.34 billion, a P/E ratio of 12.51 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 quarterly earnings data 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 company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $806.49 million. During the same quarter in the previous year, the firm posted $1.84 earnings per share. Equities analysts anticipate that Comerica will post 5.12 EPS for the current fiscal year.

Insider Transactions at Comerica

In related news, EVP Christine M. Moore sold 2,545 shares of Comerica 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 completion of the transaction, the executive vice president now directly owns 27,910 shares in the company, valued at approximately $1,605,104.10. This trade 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. In other Comerica news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the completion of the transaction, the executive vice president now owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bruce Mitchell sold 7,564 shares of the stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $62.20, for a total transaction of $470,480.80. Following the sale, the executive vice president now directly owns 16,428 shares in the company, valued at approximately $1,021,821.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

Institutional investors and hedge funds have recently made changes to their positions in the business. V Square Quantitative Management LLC acquired a new stake in Comerica in the 3rd quarter valued at $36,000. Family Firm Inc. acquired a new stake in shares of Comerica in the second quarter valued at about $37,000. UMB Bank n.a. grew 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 purchasing an additional 208 shares during the period. Versant Capital Management Inc increased its stake in shares of Comerica by 2,723.3% during the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 817 shares in the last quarter. Finally, Abich Financial Wealth Management LLC lifted its stake in Comerica by 50.2% in the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after buying an additional 300 shares in the last quarter. 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.