Stephens Raises Comerica (NYSE:CMA) Price Target to $70.00

Comerica (NYSE:CMA) had its price target lifted by Stephens from $64.00 to $70.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other equities research analysts have also recently commented on CMA. Wedbush raised shares of Comerica from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $52.00 to $75.00 in a research note on Tuesday, September 24th. The Goldman Sachs Group increased their price target on shares of Comerica from $55.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Evercore ISI lifted their price objective on Comerica from $58.00 to $64.00 and gave the stock an “in-line” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods upgraded Comerica from a “market perform” rating to an “outperform” rating and increased their target price for the company from $50.00 to $69.00 in a report on Thursday, September 5th. Finally, Truist Financial boosted their price target on Comerica from $66.00 to $70.00 and gave the stock a “hold” rating in a report on Monday. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, Comerica presently has a consensus rating of “Hold” and a consensus price target of $62.57.

Comerica Price Performance

CMA stock opened at $62.92 on Monday. The company has a market cap of $8.34 billion, a price-to-earnings ratio of 12.51 and a beta of 1.23. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. The firm has a 50 day moving average of $58.59 and a 200-day moving average of $54.02. Comerica has a 12-month low of $37.48 and a 12-month high of $66.06.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.16. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $806.49 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period in the previous year, the firm posted $1.84 earnings per share. As a group, equities analysts expect that Comerica will post 5.12 EPS for the current fiscal year.

Insider Transactions at Comerica

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at $1,605,104.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Christine M. Moore sold 2,545 shares of the firm’s 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 transaction, the executive vice president now owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Bruce Mitchell sold 7,564 shares of the company’s stock in a transaction on 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 of the company’s stock, valued at approximately $1,021,821.60. This trade represents 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.

Hedge Funds Weigh In On Comerica

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new stake in Comerica in the third quarter valued at approximately $36,000. Family Firm Inc. acquired a new position in Comerica in the 2nd quarter worth $37,000. UMB Bank n.a. boosted its position in Comerica by 39.3% in the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after buying an additional 208 shares during the last quarter. Versant Capital Management Inc grew 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 valued at $43,000 after acquiring an additional 817 shares in the last quarter. Finally, Abich Financial Wealth Management LLC lifted its stake in shares of Comerica by 50.2% in the first quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after acquiring an additional 300 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

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.