Comerica Incorporated (NYSE:CMA) Receives $59.62 Average Price Target from Analysts

Shares of Comerica Incorporated (NYSE:CMA) have received a consensus recommendation of “Hold” from the twenty-two analysts that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $62.57.

CMA has been the subject of several research analyst reports. Bank of America lowered Comerica from a “neutral” rating to an “underperform” rating and lowered their price target for the stock from $55.00 to $52.00 in a research report on Monday, October 7th. Stephens raised their price target on Comerica from $64.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday. Truist Financial raised their price target on Comerica from $66.00 to $70.00 and gave the stock a “hold” rating in a research report on Monday. Royal Bank of Canada lowered their price target on Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Finally, The Goldman Sachs Group raised their price target on Comerica from $63.00 to $71.00 and gave the stock a “buy” rating in a research report on Tuesday.

Comerica Price Performance

NYSE:CMA opened at $62.92 on Friday. Comerica has a one year low of $37.48 and a one year high of $66.06. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $8.34 billion, a PE ratio of 12.51 and a beta of 1.23. The stock has a 50 day moving average price of $58.59 and a 200 day moving average price of $54.02.

Comerica (NYSE:CMA) last posted its earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.16. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $806.49 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same quarter last year, the firm earned $1.84 earnings per share. Equities research analysts expect that Comerica will post 5.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other Comerica news, EVP Bruce Mitchell sold 7,564 shares of Comerica 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 completion of the sale, the executive vice president now directly owns 16,428 shares of the company’s stock, valued at $1,021,821.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction dated Friday, August 23rd. The stock was 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Bruce Mitchell sold 7,564 shares of Comerica stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $62.20, for a total value of $470,480.80. Following the sale, the executive vice president now owns 16,428 shares in the company, valued at $1,021,821.60. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Institutional Trading of Comerica

A number of hedge funds and other institutional investors have recently made changes to their positions in CMA. Vanguard Group Inc. increased its position in shares of Comerica by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock worth $941,968,000 after purchasing an additional 676,959 shares in the last quarter. PNC Financial Services Group Inc. increased its position in Comerica by 1.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 47,903 shares of the financial services provider’s stock valued at $2,673,000 after acquiring an additional 501 shares during the period. CWM LLC increased its position in Comerica by 4.0% in the 1st quarter. CWM LLC now owns 17,044 shares of the financial services provider’s stock valued at $937,000 after acquiring an additional 653 shares during the period. GAMMA Investing LLC increased its position in Comerica by 7.6% in the 1st quarter. GAMMA Investing LLC now owns 3,240 shares of the financial services provider’s stock valued at $178,000 after acquiring an additional 230 shares during the period. Finally, Wedmont Private Capital increased its position in Comerica by 11.5% in the 1st quarter. Wedmont Private Capital now owns 7,084 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 730 shares during the period. 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.