Comerica (NYSE:CMA) Price Target Raised to $58.00

Comerica (NYSE:CMA) had its target price increased by research analysts at Evercore ISI from $55.00 to $58.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s target price points to a potential upside of 6.15% from the company’s current price.

A number of other equities research analysts have also weighed in on CMA. JPMorgan Chase & Co. lowered shares of Comerica from an “overweight” rating to a “neutral” rating and set a $57.00 price objective for the company. in a report on Tuesday, December 12th. The Goldman Sachs Group upgraded shares of Comerica from a “neutral” rating to a “buy” rating and set a $70.50 price target for the company in a report on Thursday, January 4th. Stephens restated an “overweight” rating and issued a $64.00 price target on shares of Comerica in a report on Wednesday, March 6th. Barclays boosted their price target on shares of Comerica from $49.00 to $59.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. Finally, Bank Of America (Bofa) boosted their price target on shares of Comerica from $52.00 to $55.00 and gave the company a “neutral” rating in a report on Thursday, January 18th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Comerica has an average rating of “Hold” and an average price target of $56.02.

Comerica Trading Up 0.8 %

Shares of Comerica stock traded up $0.41 during trading on Thursday, hitting $54.64. The stock had a trading volume of 415,860 shares, compared to its average volume of 2,184,046. The firm’s fifty day simple moving average is $51.46 and its 200-day simple moving average is $48.07. The stock has a market cap of $7.24 billion, a PE ratio of 8.46 and a beta of 1.25. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.94 and a quick ratio of 0.94. Comerica has a 12 month low of $28.40 and a 12 month high of $57.39.

Comerica (NYSE:CMA) last released its earnings results on Friday, January 19th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.38 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $826.07 million. Comerica had a net margin of 16.71% and a return on equity of 19.41%. During the same quarter last year, the business earned $2.58 EPS. As a group, sell-side analysts expect that Comerica will post 5.26 EPS for the current fiscal year.

Insiders Place Their Bets

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

Institutional Investors Weigh In On Comerica

A number of hedge funds have recently modified their holdings of CMA. Spire Wealth Management grew its holdings in shares of Comerica by 95.9% in the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 235 shares during the period. Quarry LP purchased a new stake in shares of Comerica in the fourth quarter valued at about $26,000. Chilton Capital Management LLC purchased a new position in Comerica during the first quarter worth about $28,000. Penserra Capital Management LLC purchased a new position in Comerica during the second quarter worth about $35,000. Finally, Fortitude Family Office LLC purchased a new position in Comerica during the fourth quarter worth about $36,000. Hedge funds and other institutional investors 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.