Comerica (NYSE:CMA) Price Target Raised to $69.00 at Evercore ISI

Comerica (NYSE:CMA) had its target price upped by Evercore ISI from $64.00 to $69.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an in-line rating on the financial services provider’s stock.

Several other research analysts have also recently weighed in on CMA. JPMorgan Chase & Co. increased their price objective on Comerica from $65.00 to $70.00 and gave the stock a “neutral” rating in a research report on Monday, October 21st. Bank of America cut shares of Comerica from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $55.00 to $52.00 in a research note on Monday, October 7th. Wedbush upgraded shares of Comerica from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $52.00 to $75.00 in a research report on Tuesday, September 24th. Morgan Stanley lifted their price target on shares of Comerica from $63.00 to $67.00 and gave the company an “equal weight” rating in a research report on Monday, October 21st. Finally, Truist Financial increased their price target on Comerica from $66.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday, October 21st. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $62.81.

Comerica Trading Up 2.8 %

Shares of Comerica stock opened at $64.48 on Wednesday. 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 business has a fifty day simple moving average of $59.15 and a two-hundred day simple moving average of $54.32. Comerica has a 1 year low of $38.43 and a 1 year high of $66.06. The company has a market capitalization of $8.55 billion, a price-to-earnings ratio of 12.82 and a beta of 1.23.

Comerica (NYSE:CMA) last posted its earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.16. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $806.49 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same quarter last year, the company posted $1.84 EPS. Research analysts forecast that Comerica will post 5.12 EPS for the current year.

Insider Transactions at Comerica

In related news, EVP Christine M. Moore sold 2,545 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total value of $146,362.95. Following the completion of the sale, the executive vice president now directly owns 27,910 shares in the company, 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 SEC, which is available at this hyperlink. In related news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total value of $146,362.95. Following the sale, the executive vice president now directly owns 27,910 shares in the company, valued at $1,605,104.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP James Harry Weber sold 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $63.23, for a total transaction of $410,995.00. Following the transaction, the executive vice president now owns 15,773 shares of the company’s stock, valued at approximately $997,326.79. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,609 shares of company stock worth $1,027,839. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

Institutional investors have recently bought and sold shares of the company. Pitcairn Co. lifted its stake in shares of Comerica by 2.9% in the 1st quarter. Pitcairn Co. now owns 6,800 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 190 shares during the period. EverSource Wealth Advisors LLC lifted its stake in Comerica by 19.7% in the second quarter. EverSource Wealth Advisors LLC now owns 1,207 shares of the financial services provider’s stock valued at $66,000 after buying an additional 199 shares during the period. Texas Permanent School Fund Corp boosted its holdings in shares of Comerica by 0.7% during the 1st quarter. Texas Permanent School Fund Corp now owns 27,245 shares of the financial services provider’s stock worth $1,498,000 after buying an additional 201 shares in the last quarter. Summit Securities Group LLC grew its position in shares of Comerica by 22.4% during the 2nd quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock worth $56,000 after buying an additional 202 shares during the period. Finally, UMB Bank n.a. increased its stake in shares of 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 acquiring an additional 208 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

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.