Comerica (NYSE:CMA) Given New $67.00 Price Target at Morgan Stanley

by · The Cerbat Gem

Comerica (NYSE:CMA – Free Report) had its price target hoisted by Morgan Stanley from $63.00 to $67.00 in a research report released on Monday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. The Goldman Sachs Group boosted 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. Piper Sandler boosted their target price on Comerica from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Wedbush raised Comerica from a “neutral” rating to an “outperform” rating and raised their price target for the company from $52.00 to $75.00 in a report on Tuesday, September 24th. Evercore ISI lifted their price objective on Comerica from $58.00 to $64.00 and gave the company an “in-line” rating in a research report on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods upgraded Comerica from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $50.00 to $69.00 in a report on Thursday, September 5th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $62.57.

View Our Latest Stock Report on CMA

Comerica Price Performance

Comerica stock opened at $62.92 on Monday. The business has a 50 day simple moving average of $58.59 and a 200 day simple moving average of $54.02. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $8.34 billion, a PE ratio of 12.51 and a beta of 1.23. Comerica has a one year low of $37.48 and a one year high of $66.06.

Comerica (NYSE:CMA – Get Free Report) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.16. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $806.49 million. During the same period last year, the business earned $1.84 earnings per share. On average, sell-side analysts forecast that Comerica will post 5.12 EPS for the current fiscal year.

Insider Activity at Comerica

In other Comerica news, EVP Bruce Mitchell sold 7,564 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $1,021,821.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through 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 sale, the executive vice president now owns 27,910 shares in the company, valued at $1,605,104.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Bruce Mitchell sold 7,564 shares of Comerica stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $62.20, for a total value of $470,480.80. Following the transaction, the executive vice president now owns 16,428 shares in the company, valued at approximately $1,021,821.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Comerica

Large investors have recently modified their holdings of the business. V Square Quantitative Management LLC acquired a new position in shares of Comerica in the 3rd quarter valued at approximately $36,000. Family Firm Inc. acquired a new position in shares of Comerica in the second quarter valued at approximately $37,000. UMB Bank n.a. increased its position in shares of Comerica by 39.3% during the second quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 208 shares in the last quarter. Versant Capital Management Inc raised its holdings in shares of Comerica by 2,723.3% during the second quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 817 shares during the period. Finally, Abich Financial Wealth Management LLC lifted its position in Comerica by 50.2% in the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 300 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

About Comerica

(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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