Comerica (NYSE:CMA) PT Raised to $56.00

Comerica (NYSE:CMA) had its target price hoisted by stock analysts at Piper Sandler from $54.00 to $56.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target indicates a potential upside of 6.30% from the company’s current price.

Several other research analysts also recently issued reports on the stock. Evercore ISI upped their target price on shares of Comerica from $55.00 to $58.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Argus lowered Comerica from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Stephens reaffirmed an “overweight” rating and set a $64.00 price target on shares of Comerica in a report on Friday, April 19th. Raymond James downgraded Comerica from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Finally, Bank Of America (Bofa) boosted their target price on Comerica from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Comerica currently has an average rating of “Hold” and an average target price of $56.98.

Comerica Trading Up 1.0 %

Shares of NYSE CMA traded up $0.53 during midday trading on Friday, hitting $52.68. 83,841 shares of the company traded hands, compared to its average volume of 2,080,379. The firm has a market cap of $6.98 billion, a P/E ratio of 10.48 and a beta of 1.27. The stock has a 50-day moving average price of $51.51 and a 200 day moving average price of $49.58. Comerica has a 12-month low of $28.40 and a 12-month high of $57.39. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.94 and a current ratio of 0.95.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $807.57 million. Comerica had a return on equity of 16.51% and a net margin of 13.11%. During the same period in the previous year, the firm posted $2.39 EPS. As a group, analysts expect that Comerica will post 5.15 earnings per share for the current year.

Insider Transactions at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 1,616 shares of the company’s stock in a transaction on Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the transaction, the executive vice president now directly owns 8,314 shares in the company, valued at $454,276.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.64, for a total value of $88,298.24. Following the sale, the executive vice president now directly owns 8,314 shares in the company, valued at approximately $454,276.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

Several hedge funds have recently made changes to their positions in CMA. Simplicity Wealth LLC purchased a new stake in Comerica during the 1st quarter valued at approximately $228,000. LHM Inc. acquired a new stake in shares of Comerica during the first quarter worth $1,655,000. Assenagon Asset Management S.A. purchased a new position in Comerica during the 1st quarter worth $8,710,000. Fishman Jay A Ltd. MI lifted its stake in shares of Comerica by 3.2% in the 1st quarter. Fishman Jay A Ltd. MI now owns 289,730 shares of the financial services provider’s stock worth $15,932,000 after acquiring an additional 8,975 shares during the period. Finally, Fifth Third Bancorp raised its holdings in Comerica by 2.6% during the first quarter. Fifth Third Bancorp now owns 17,414 shares of the financial services provider’s stock worth $958,000 after purchasing an additional 440 shares in the last quarter. 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.