Comerica (NYSE:CMA) Price Target Cut to $60.00 by Analysts at Truist Financial

Comerica (NYSE:CMA) had its price objective reduced by equities researchers at Truist Financial from $62.00 to $60.00 in a report released on Monday, Benzinga reports. The firm currently has a “buy” rating on the financial services provider’s stock. Truist Financial’s target price would indicate a potential upside of 13.98% from the company’s previous close.

CMA has been the subject of several other reports. TheStreet upgraded Comerica from a “c+” rating to a “b-” rating in a research report on Tuesday, December 26th. Barclays boosted their price objective on shares of Comerica from $49.00 to $59.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. Raymond James lowered shares of Comerica from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Argus cut shares of Comerica from a “buy” rating to a “hold” rating in a research report on Monday, January 29th. Finally, Piper Sandler upped their price objective on shares of Comerica from $53.00 to $54.00 and gave the company a “neutral” rating in a research report on Friday, April 19th. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.89.

Comerica Trading Up 0.1 %

Shares of NYSE CMA opened at $52.64 on Monday. Comerica has a fifty-two week low of $28.40 and a fifty-two week high of $57.39. The firm has a market capitalization of $6.97 billion, a P/E ratio of 10.47 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.94. The company’s 50 day simple moving average is $51.44 and its 200 day simple moving average is $49.54.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share 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 company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. During the same quarter in the prior year, the business posted $2.39 EPS. On average, analysts predict that Comerica will post 5.09 EPS for the current year.

Insider Activity at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 1,616 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the transaction, the executive vice president now owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Comerica news, EVP Cassandra M. Mckinney sold 1,616 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.64, for a total value of $88,298.24. Following the completion of the sale, the executive vice president now owns 8,314 shares in the company, valued at $454,276.96. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the transaction, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

Several institutional investors and hedge funds have recently bought and sold shares of the business. Norges Bank acquired a new stake in shares of Comerica during the 4th quarter worth about $80,691,000. Azora Capital LP acquired a new stake in Comerica during the fourth quarter worth approximately $63,548,000. Vaughan Nelson Investment Management L.P. boosted its holdings in shares of Comerica by 129.3% during the fourth 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 acquiring an additional 1,088,330 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Comerica by 60.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,605,943 shares of the financial services provider’s stock valued at $145,444,000 after purchasing an additional 984,391 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Comerica by 51.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock valued at $143,109,000 after purchasing an additional 870,812 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

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.