Comerica (NYSE:CMA) Price Target Increased to $58.00 by Analysts at Evercore ISI

Comerica (NYSE:CMA) had its price objective raised by analysts at Evercore ISI from $55.00 to $58.00 in a research note issued on Thursday, Benzinga reports. The firm currently has an “in-line” rating on the financial services provider’s stock. Evercore ISI’s price target suggests a potential upside of 6.15% from the stock’s previous close.

Several other analysts also recently issued reports on the stock. Raymond James downgraded shares of Comerica from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. JPMorgan Chase & Co. downgraded shares of Comerica from an “overweight” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research note on Tuesday, December 12th. Keefe, Bruyette & Woods cut their target price on shares of Comerica from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd. Royal Bank of Canada boosted their target price on shares of Comerica from $50.00 to $63.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Finally, Barclays boosted their target price on shares of Comerica from $49.00 to $59.00 and gave the company an “underweight” rating in a research note on Tuesday, January 2nd. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $56.02.

Comerica Price Performance

Shares of NYSE CMA traded up $0.41 during trading on Thursday, hitting $54.64. The company had a trading volume of 415,860 shares, compared to its average volume of 2,184,046. The company has a market cap of $7.24 billion, a P/E ratio of 8.46 and a beta of 1.25. Comerica has a 52 week low of $28.40 and a 52 week high of $57.39. The business’s 50-day moving average is $51.46 and its 200 day moving average is $48.07. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.94 and a current ratio of 0.94.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.08. The company had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $826.07 million. Comerica had a return on equity of 19.41% and a net margin of 16.71%. During the same quarter in the prior year, the company earned $2.58 earnings per share. Equities research analysts predict that Comerica will post 5.26 earnings per share for the current fiscal year.

Insider Activity at Comerica

In related news, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.74, for a total value of $160,013.16. Following the completion of the transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at $920,840.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction 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 $454,276.96. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the sale, 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. 0.19% of the stock is owned by corporate insiders.

Institutional Trading of Comerica

Several hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its stake 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 valued at $941,968,000 after purchasing an additional 676,959 shares during the last quarter. BlackRock Inc. grew its stake in shares of Comerica by 2.2% during the second quarter. BlackRock Inc. now owns 13,606,533 shares of the financial services provider’s stock valued at $576,373,000 after purchasing an additional 292,535 shares during the last quarter. State Street Corp grew its stake in shares of Comerica by 3.9% during the third quarter. State Street Corp now owns 7,675,947 shares of the financial services provider’s stock valued at $550,764,000 after purchasing an additional 284,884 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Comerica by 1,192.2% during the first quarter. First Trust Advisors LP now owns 3,878,506 shares of the financial services provider’s stock valued at $168,405,000 after purchasing an additional 3,578,355 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Comerica by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,343,131 shares of the financial services provider’s stock valued at $186,580,000 after purchasing an additional 48,526 shares during the last quarter. 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.