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

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

CMA has been the topic of a number of other reports. JPMorgan Chase & Co. increased their price objective on shares of Comerica from $57.00 to $65.00 and gave the company a “neutral” rating in a research report on Wednesday, October 9th. StockNews.com cut Comerica from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Raymond James raised Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research report on Tuesday, July 2nd. Keefe, Bruyette & Woods raised Comerica from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $50.00 to $69.00 in a research report on Thursday, September 5th. Finally, Wedbush raised Comerica from a “neutral” rating to an “outperform” rating and upped their price target for the company from $52.00 to $75.00 in a report on Tuesday, September 24th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $62.57.

Comerica Trading Up 1.5 %

NYSE:CMA opened at $62.92 on Monday. Comerica has a 12-month low of $37.48 and a 12-month high of $66.06. The firm has a market cap of $8.34 billion, a PE 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 stock has a fifty day moving average price of $58.59 and a 200 day moving average price of $54.02.

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

Insider Activity

In related news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 27,910 shares of the company’s stock, 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 link. In related news, EVP Christine M. Moore sold 2,545 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $57.51, for a total transaction of $146,362.95. Following the sale, 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 available at this link. Also, EVP Bruce Mitchell sold 7,564 shares of the company’s 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 transaction, the executive vice president now owns 16,428 shares in the company, valued at $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. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in CMA. V Square Quantitative Management LLC acquired a new stake in Comerica in the 3rd quarter valued at about $36,000. Family Firm Inc. purchased 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 last quarter. Versant Capital Management Inc raised its position in shares of Comerica by 2,723.3% during the 2nd 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 during 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. 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.