Comerica (NYSE:CMA) PT Raised to $64.00 at Evercore ISI

Comerica (NYSE:CMA) had its price target increased by Evercore ISI from $58.00 to $64.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s price objective indicates a potential upside of 9.08% from the stock’s current price.

Several other research firms have also recently weighed in on CMA. The Goldman Sachs Group reduced their price target on Comerica from $69.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. Keefe, Bruyette & Woods upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and upped their price target for the company from $50.00 to $69.00 in a research report on Thursday, September 5th. Royal Bank of Canada cut their price target on shares of Comerica from $58.00 to $56.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Truist Financial increased their price objective on Comerica from $53.00 to $66.00 and gave the company a “hold” rating in a report on Friday, September 20th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $55.00 target price on shares of Comerica in a report on Tuesday, September 10th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Comerica presently has an average rating of “Hold” and a consensus target price of $58.81.

Comerica Price Performance

CMA stock opened at $58.67 on Wednesday. The stock has a market cap of $7.78 billion, a price-to-earnings ratio of 11.66 and a beta of 1.23. 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 company has a 50 day simple moving average of $56.08 and a 200 day simple moving average of $53.11. 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 results on Friday, July 19th. The financial services provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $812.79 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period in the prior year, the company earned $2.01 EPS. Research analysts anticipate that Comerica will post 5.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the business’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 sale, the executive vice president now owns 27,910 shares in the company, valued at approximately $1,605,104.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Comerica

Several hedge funds and other institutional investors have recently made changes to their positions in CMA. OLD National Bancorp IN boosted its stake in Comerica by 4.9% during the 2nd quarter. OLD National Bancorp IN now owns 237,650 shares of the financial services provider’s stock valued at $12,130,000 after purchasing an additional 11,049 shares during the last quarter. Entropy Technologies LP bought a new stake in Comerica during the first quarter worth $1,764,000. SG Americas Securities LLC raised its position in Comerica by 66.2% in the 2nd quarter. SG Americas Securities LLC now owns 62,868 shares of the financial services provider’s stock valued at $3,209,000 after buying an additional 25,040 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Comerica by 39.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 220,659 shares of the financial services provider’s stock valued at $11,262,000 after acquiring an additional 62,269 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in Comerica by 13.6% during the 1st quarter. LSV Asset Management now owns 835,389 shares of the financial services provider’s stock worth $45,938,000 after acquiring an additional 100,189 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

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.