Comerica (NYSE:CMA) PT Lowered to $54.00

Comerica (NYSE:CMA) had its price target dropped by Evercore ISI from $58.00 to $54.00 in a report released on Tuesday, Benzinga reports. The firm currently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s price target would indicate a potential upside of 12.92% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $58.00 target price on shares of Comerica in a research report on Tuesday, June 11th. Truist Financial lowered their price target on Comerica from $60.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, June 13th. Robert W. Baird lowered their price target on Comerica from $72.00 to $68.00 and set an “outperform” rating on the stock in a research report on Thursday, June 20th. DA Davidson reaffirmed a “neutral” rating and set a $56.00 price target on shares of Comerica in a research report on Wednesday, March 6th. Finally, Stephens reaffirmed an “overweight” rating and set a $64.00 price target on shares of Comerica in a research report on Tuesday, June 11th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Comerica has an average rating of “Hold” and an average target price of $56.13.

Comerica Stock Down 1.0 %

Shares of Comerica stock opened at $47.82 on Tuesday. The business’s 50 day simple moving average is $50.74 and its 200 day simple moving average is $52.00. Comerica has a 52-week low of $37.40 and a 52-week high of $57.39. The firm has a market cap of $6.34 billion, a PE ratio of 9.51 and a beta of 1.25. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 0.95.

Comerica (NYSE:CMA) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $807.57 million. During the same quarter last year, the firm earned $2.39 EPS. On average, analysts predict that Comerica will post 5.08 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total transaction of $382,381.89. Following the completion of the sale, the executive vice president now directly owns 7,236 shares in the company, valued at approximately $380,541.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

Institutional investors have recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of Comerica by 105.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 182,402 shares of the financial services provider’s stock worth $10,031,000 after buying an additional 3,595,036 shares in the last quarter. Norges Bank acquired a new position in shares of Comerica during the 4th quarter worth $80,691,000. Azora Capital LP acquired a new position in shares of Comerica during the 4th quarter worth $63,548,000. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Comerica by 129.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock worth $107,716,000 after buying an additional 1,088,330 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in Comerica by 60.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,605,943 shares of the financial services provider’s stock worth $145,444,000 after purchasing an additional 984,391 shares in 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.