Barclays Boosts Comerica (NYSE:CMA) Price Target to $66.00

by · The Markets Daily

Comerica (NYSE:CMA – Free Report) had its price target hoisted by Barclays from $56.00 to $66.00 in a research report released on Monday, Benzinga reports. Barclays currently has an underweight rating on the financial services provider’s stock.

Several other research analysts have also issued reports on CMA. Raymond James upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a report on Tuesday, July 2nd. Evercore ISI boosted their target price on shares of Comerica from $58.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. The Goldman Sachs Group upped their price target on shares of Comerica from $55.00 to $63.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Stephens reissued an “overweight” rating and issued a $58.00 price objective on shares of Comerica in a research report on Tuesday, September 10th. Finally, Keefe, Bruyette & Woods upgraded Comerica from a “market perform” rating to an “outperform” rating and upped their target price for the company from $50.00 to $69.00 in a research report on Thursday, September 5th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $62.57.

View Our Latest Stock Analysis on CMA

Comerica Price Performance

Comerica stock opened at $62.92 on Monday. The company has a market capitalization of $8.34 billion, a PE ratio of 12.51 and a beta of 1.23. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. The stock has a 50-day moving average price of $58.59 and a two-hundred day moving average price of $54.02. Comerica has a 12 month low of $37.48 and a 12 month high of $66.06.

Comerica (NYSE:CMA – Get Free Report) last released its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.16. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $806.49 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same quarter last year, the firm earned $1.84 earnings per share. Analysts expect that Comerica will post 5.12 EPS for the current year.

Insider Buying and Selling at Comerica

In other news, EVP Bruce Mitchell sold 7,564 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $62.20, for a total transaction of $470,480.80. Following the transaction, the executive vice president now owns 16,428 shares of the company’s stock, valued at $1,021,821.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the completion of the transaction, the executive vice president now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Bruce Mitchell sold 7,564 shares of the firm’s stock in a transaction dated Tuesday, October 22nd. The shares were 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. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Comerica

Hedge funds and other institutional investors have recently bought and sold shares of the company. Pitcairn Co. grew 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 buying an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC grew its position 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 worth $66,000 after acquiring an additional 199 shares during the last quarter. Texas Permanent School Fund Corp increased its stake in Comerica by 0.7% in the 1st quarter. Texas Permanent School Fund Corp now owns 27,245 shares of the financial services provider’s stock worth $1,498,000 after purchasing an additional 201 shares during the period. Summit Securities Group LLC lifted its position in Comerica by 22.4% in the second quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 202 shares during the last quarter. Finally, UMB Bank n.a. lifted its position in Comerica by 39.3% in the second quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Company Profile

(Get Free Report)

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.

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