Comerica (NYSE:CMA) Price Target Increased to $64.00 by Analysts at Evercore ISI

Comerica (NYSE:CMA) had its price target lifted by research analysts at Evercore ISI from $58.00 to $64.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s price target suggests a potential upside of 9.08% from the stock’s current price.

A number of other research analysts have also recently weighed in on CMA. JPMorgan Chase & Co. dropped their target price on shares of Comerica from $62.00 to $57.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. 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. StockNews.com cut Comerica from a “hold” rating to a “sell” rating in a research report on Tuesday, September 24th. DA Davidson reissued a “neutral” rating and issued a $55.00 price objective on shares of Comerica in a report on Tuesday, September 10th. Finally, Barclays dropped their price objective on shares of Comerica from $59.00 to $56.00 and set an “underweight” rating on the stock in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Comerica currently has an average rating of “Hold” and an average price target of $58.81.

Comerica Stock Performance

Shares of CMA opened at $58.67 on Wednesday. The stock has a 50 day moving average of $56.08 and a 200 day moving average of $53.11. The company has a market capitalization of $7.78 billion, a price-to-earnings ratio of 11.66 and a beta of 1.23. Comerica has a 12 month low of $37.40 and a 12 month high of $61.84. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23.

Comerica (NYSE:CMA) last announced its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.30. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $812.79 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period last year, the firm posted $2.01 EPS. As a group, sell-side analysts forecast that Comerica will post 5.06 earnings per share for the current year.

Insider Buying and Selling at Comerica

In other news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $1,605,104.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in CMA. Bluefin Capital Management LLC purchased a new position in shares of Comerica in the 2nd quarter worth about $245,000. Sanctuary Advisors LLC purchased a new position in shares of Comerica during the second quarter valued at about $449,000. Teachers Retirement System of The State of Kentucky raised its stake in Comerica by 200.9% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 32,400 shares of the financial services provider’s stock worth $1,654,000 after buying an additional 21,631 shares in the last quarter. LHM Inc. lifted its holdings in Comerica by 45.3% in the second quarter. LHM Inc. now owns 43,740 shares of the financial services provider’s stock worth $2,264,000 after buying an additional 13,640 shares during the period. Finally, Truist Financial Corp bought a new stake in Comerica during the 2nd quarter valued at approximately $318,000. 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.