Comerica (NYSE:CMA) PT Raised to $63.00 at The Goldman Sachs Group

by · The Markets Daily

Comerica (NYSE:CMA – Get Free Report) had its price objective hoisted by research analysts at The Goldman Sachs Group from $55.00 to $63.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s price target points to a potential upside of 8.86% from the stock’s previous close.

A number of other equities analysts have also recently commented on CMA. Royal Bank of Canada cut their price target on shares of Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Robert W. Baird reduced their target price on Comerica from $72.00 to $68.00 and set an “outperform” rating on the stock in a research note on Thursday, June 20th. StockNews.com raised Comerica from a “sell” rating to a “hold” rating in a research note on Thursday, October 3rd. Morgan Stanley increased their price objective on Comerica from $61.00 to $63.00 and gave the company an “equal weight” rating in a research report on Monday, September 30th. Finally, Barclays dropped their target price on Comerica from $59.00 to $56.00 and set an “underweight” rating for the company in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $59.24.

Read Our Latest Analysis on Comerica

Comerica Trading Down 0.7 %

Comerica stock opened at $57.87 on Monday. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96. Comerica has a fifty-two week low of $37.40 and a fifty-two week high of $61.84. The stock has a market cap of $7.67 billion, a P/E ratio of 11.50 and a beta of 1.23. The firm’s fifty day moving average price is $56.49 and its 200-day moving average price is $53.32.

Comerica (NYSE:CMA – Get Free Report) last released its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.30. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The firm had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $812.79 million. During the same quarter last year, the firm posted $2.01 EPS. Equities research analysts forecast that Comerica will post 5.06 earnings per share for the current fiscal year.

Insider Activity

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction dated 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 directly owns 27,910 shares in the company, valued at $1,605,104.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Comerica

A number of institutional investors have recently added to or reduced their stakes in CMA. OLD National Bancorp IN increased its stake in shares of Comerica by 4.9% in the 2nd quarter. OLD National Bancorp IN now owns 237,650 shares of the financial services provider’s stock worth $12,130,000 after acquiring an additional 11,049 shares in the last quarter. Entropy Technologies LP purchased a new position in Comerica during the first quarter valued at $1,764,000. SG Americas Securities LLC boosted its holdings in Comerica by 66.2% in the second quarter. SG Americas Securities LLC now owns 62,868 shares of the financial services provider’s stock worth $3,209,000 after acquiring an additional 25,040 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Comerica by 39.3% in the second quarter. Assenagon Asset Management S.A. now owns 220,659 shares of the financial services provider’s stock worth $11,262,000 after acquiring an additional 62,269 shares during the last quarter. Finally, LSV Asset Management increased its holdings in shares of Comerica by 13.6% during the first quarter. LSV Asset Management now owns 835,389 shares of the financial services provider’s stock valued at $45,938,000 after acquiring an additional 100,189 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

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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