Comerica (NYSE:CMA) PT raised to $54.00

Comerica (NYSE:CMA – Get a Free Report) Piper Sandler’s stock research price target was raised from $53.00 to $54.00 in a research note issued on Friday, Benzinga reports. The company currently has a “neutral” rating on the financial services company’s stock. Piper Sandler’s price target would suggest a potential upside of 4.73% from the company’s current share price.

Other research analysts also recently released research reports on the company. Truist Financial raised their price target on Comerica from $60.00 to $62.00 and gave the stock a “buy” rating in a research note on Monday, April 1. Raymond James downgraded shares of Comerica from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Keefe, Bruyette & Woods lowered their price target on shares of Comerica from $60.00 to $58.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. Royal Bank of Canada raised their price target on Comerica from $61.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, The Goldman Sachs Group upgraded Comerica from a “neutral” rating to a “buy” rating and set a target price for the stock of $70.50 in a research report on Thursday, January 4th. Three research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $58.02.

Check out our latest analysis on Comerica

Comerica stock performance

Shares of NYSE CMA opened at $51.56 on Friday. 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 has a market cap of $6.83 billion, a price-to-earnings ratio of 10.25 and a beta of 1.27. The stock’s fifty-day moving average price is $51.38 and its two-hundred-day moving average price is $49.30. Comerica has a one-year low of $28.40 and a one-year high of $57.39.

Comerica (NYSE:CMA – Get Free Report) posted its latest quarterly results on Thursday, April 18. The financial services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst expectations of $807.57 million. During the same period last year, the company posted earnings per share of $2.39. On average, stock analysts predict that Comerica will post earnings per share of 5.09 this year.

Insider transactions at Comerica

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

Institutional investors weigh in on Comerica

Several major investors have recently changed their holdings of CMA. First Trust Advisors LP increased its holdings in shares of Comerica by 1,192.2% in the first quarter. First Trust Advisors LP now owns 3,878,506 shares of the financial services provider’s stock worth $168,405,000 after purchasing an additional 3,578,355 shares in the last quarter. Norges Bank bought a new position in Comerica in the fourth quarter worth approximately $113,763,000. BlackRock Inc. expanded its holdings in Comerica by 9.4% during the first quarter. BlackRock Inc. now owns 13,313,998 shares of the financial services company valued at $578,094,000 after purchasing an additional 1,145,951 shares in the last quarter. Azora Capital LP bought a new position in Comerica in the 4th quarter valued at $63,548,000. Finally, Vaughan Nelson Investment Management LP grew its holdings in Comerica by 129.3% in the 4th quarter. Vaughan Nelson Investment Management LP now owns 1,930,045 shares of the financial services provider’s stock valued at $107,716,000 after purchasing an additional 1,088,330 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s shares.

About Comerica

(Get a free report)

Comerica Incorporated provides various financial products and services through its subsidiaries. The company operates through Commercial Bank, Retail Bank, Wealth Management and Finance segments. The Commercial Bank segment offers a variety of products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital markets products, international trade finance, letters of credit, currency management services and loan syndication services. for small and medium-sized businesses, multinational corporations and government agencies.

Comerica stock performance

Insider transactions at Comerica

Institutional investors weigh in on Comerica

About Comerica

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