Comerica (NYSE:CMA) PT Raised to $66.00

Comerica (NYSE:CMA) had its price objective raised by research analysts at Barclays from $56.00 to $66.00 in a research report issued on Monday, Benzinga reports. The brokerage presently has an “underweight” rating on the financial services provider’s stock. Barclays‘s price objective points to a potential upside of 1.65% from the stock’s current price.

CMA has been the topic of a number of other research reports. Raymond James raised Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price objective on the stock in a report on Tuesday, July 2nd. Wedbush raised shares of Comerica from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $52.00 to $75.00 in a report on Tuesday, September 24th. StockNews.com cut shares of Comerica from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. DA Davidson reiterated a “neutral” rating and issued a $55.00 target price on shares of Comerica in a research note on Tuesday, September 10th. Finally, Evercore ISI boosted their price target on shares of Comerica from $58.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $60.10.

Comerica Price Performance

NYSE CMA opened at $64.93 on Monday. The company has a market cap of $8.61 billion, a PE ratio of 12.91 and a beta of 1.23. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. The firm’s 50-day simple moving average is $57.96 and its two-hundred day simple moving average is $53.77. Comerica has a 52 week low of $37.40 and a 52 week high of $66.06.

Comerica (NYSE:CMA) last released its quarterly earnings data 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 net margin of 12.15% and a return on equity of 15.01%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $806.49 million. During the same period last year, the firm earned $1.84 EPS. Research analysts predict that Comerica will post 5.12 earnings per share for the current year.

Insider Transactions at Comerica

In other news, EVP Christine M. Moore sold 2,545 shares of the business’s stock in a transaction dated 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pitcairn Co. raised its stake in shares of Comerica by 2.9% during the first quarter. Pitcairn Co. now owns 6,800 shares of the financial services provider’s stock valued at $374,000 after acquiring an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Comerica by 19.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,207 shares of the financial services provider’s stock valued at $66,000 after purchasing an additional 199 shares during the period. Texas Permanent School Fund Corp raised its position in 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 valued at $1,498,000 after purchasing an additional 201 shares during the last quarter. Summit Securities Group LLC lifted its holdings in Comerica by 22.4% in 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. grew its position 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 worth $38,000 after buying an additional 208 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

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.