Stephens Reaffirms Overweight Rating for Comerica (NYSE:CMA)

Comerica (NYSE:CMA)‘s stock had its “overweight” rating reiterated by research analysts at Stephens in a report issued on Friday, Benzinga reports. They presently have a $64.00 target price on the financial services provider’s stock. Stephens’ price target points to a potential upside of 24.01% from the stock’s previous close.

A number of other brokerages also recently commented on CMA. Royal Bank of Canada reduced their price objective on Comerica from $63.00 to $61.00 and set an “outperform” rating for the company in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft assumed coverage on Comerica in a research report on Wednesday, April 10th. They issued a “hold” rating and a $59.00 target price for the company. Truist Financial boosted their price target on shares of Comerica from $60.00 to $62.00 and gave the company a “buy” rating in a report on Monday, April 1st. Keefe, Bruyette & Woods reduced their price objective on shares of Comerica from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Monday, January 22nd. Finally, Bank Of America (Bofa) upped their target price on shares of Comerica from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $57.50.

Comerica Stock Performance

Shares of CMA stock traded up $0.95 during trading hours on Friday, reaching $51.61. 442,098 shares of the company’s stock were exchanged, compared to its average volume of 2,096,262. Comerica has a fifty-two week low of $28.40 and a fifty-two week high of $57.39. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $6.84 billion, a P/E ratio of 8.00 and a beta of 1.27. The business has a fifty day moving average price of $51.38 and a 200-day moving average price of $49.15.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.16. Comerica had a net margin of 16.71% and a return on equity of 19.41%. During the same period last year, the business posted $2.39 EPS. Analysts predict that Comerica will post 5.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.74, for a total value of $160,013.16. Following the completion of the sale, the executive vice president now directly owns 17,460 shares in the company, valued at $920,840.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related 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 value of $88,298.24. Following the completion of the transaction, the executive vice president now directly owns 8,314 shares in the company, valued at approximately $454,276.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 owns 17,460 shares in the company, valued at $920,840.40. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

Several large investors have recently made changes to their positions in the stock. Quarry LP acquired a new position in Comerica in the 4th quarter worth $26,000. Spire Wealth Management raised its position in Comerica by 95.9% in the 4th quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after buying an additional 235 shares during the last quarter. Almanack Investment Partners LLC. bought a new stake in Comerica in the 3rd quarter valued at approximately $38,000. Chilton Capital Management LLC acquired a new position in Comerica during the 1st quarter worth approximately $28,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Comerica in the fourth quarter valued at approximately $36,000. Institutional investors 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.