Comerica (NYSE:CMA) Price Target Increased to $70.00 by Analysts at Stephens

Comerica (NYSE:CMA) had its price objective hoisted by stock analysts at Stephens from $64.00 to $70.00 in a note issued to investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the financial services provider’s stock. Stephens’ target price suggests a potential upside of 10.27% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $50.00 to $69.00 in a research report on Thursday, September 5th. Morgan Stanley raised their target price on Comerica from $61.00 to $63.00 and gave the company an “equal weight” rating in a report on Monday, September 30th. The Goldman Sachs Group increased their price objective on Comerica from $55.00 to $63.00 and gave the company a “buy” rating in a report on Monday, October 7th. JPMorgan Chase & Co. increased their target price on shares of Comerica from $57.00 to $65.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 9th. Finally, StockNews.com downgraded Comerica from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.38.

Comerica Price Performance

Comerica stock traded down $1.46 during midday trading on Monday, reaching $63.48. The company had a trading volume of 484,999 shares, compared to its average volume of 2,151,026. Comerica has a 12-month low of $37.40 and a 12-month high of $66.06. The firm’s fifty day simple moving average is $57.96 and its 200-day simple moving average is $53.77. 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 market capitalization of $8.42 billion, a P/E ratio of 12.62 and a beta of 1.23.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, topping 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 firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $806.49 million. During the same period in the previous year, the business earned $1.84 earnings per share. As a group, equities analysts anticipate that Comerica will post 5.12 EPS for the current year.

Insider Activity

In related news, EVP Christine M. Moore sold 2,545 shares of the business’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 completion of the sale, the executive vice president now directly owns 27,910 shares in the company, valued at approximately $1,605,104.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Comerica

A number of hedge funds have recently bought and sold shares of CMA. V Square Quantitative Management LLC bought a new stake in Comerica during the 3rd quarter valued at approximately $36,000. Family Firm Inc. bought a new position in Comerica during the second quarter valued at about $37,000. UMB Bank n.a. lifted its holdings in shares of Comerica by 39.3% during the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 208 shares during the period. Versant Capital Management Inc increased its holdings in Comerica by 2,723.3% during the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 817 shares in the last quarter. Finally, Abich Financial Wealth Management LLC raised 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 during the last quarter. 80.74% of the stock is currently owned by institutional investors.

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.