Comerica (NYSE:CMA) Given New $57.00 Price Target at Truist Financial

Comerica (NYSE:CMA - Get Free Report) had its price target cut by Truist Financial from $65.00 to $57.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a "hold" rating on the financial services provider's stock. Truist Financial's price target would suggest a potential upside of 11.70% from the stock's previous close.

Several other research firms have also issued reports on CMA. Argus raised shares of Comerica to a "hold" rating in a research note on Friday, January 31st. JPMorgan Chase & Co. downgraded Comerica from a "neutral" rating to an "underweight" rating and decreased their price target for the stock from $64.00 to $52.00 in a research note on Tuesday. Raymond James cut their price objective on Comerica from $72.00 to $67.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Wells Fargo & Company dropped their price target on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Finally, Barclays raised their target price on shares of Comerica from $66.00 to $68.00 and gave the company an "underweight" rating in a research note on Monday, January 6th. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $62.84.

Comerica Stock Up 0.8 %

Shares of NYSE:CMA traded up $0.43 during midday trading on Tuesday, hitting $51.03. 1,199,159 shares of the stock were exchanged, compared to its average volume of 2,209,294. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. Comerica has a 52-week low of $45.32 and a 52-week high of $73.45. The business's fifty day simple moving average is $58.55 and its two-hundred day simple moving average is $62.87. The company has a market capitalization of $6.70 billion, a PE ratio of 10.17 and a beta of 0.96.

Comerica (NYSE:CMA - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.11. The firm had revenue of $829.00 million for the quarter, compared to the consensus estimate of $839.31 million. Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter in the prior year, the company posted $1.29 earnings per share. As a group, research analysts predict that Comerica will post 5.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Comerica

Hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its holdings in Comerica by 2.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,035,820 shares of the financial services provider's stock worth $311,464,000 after buying an additional 114,072 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Comerica by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider's stock worth $274,092,000 after purchasing an additional 125,514 shares during the period. North Reef Capital Management LP increased its holdings in Comerica by 15.7% during the 4th quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider's stock worth $250,492,000 after purchasing an additional 550,000 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Comerica by 3.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider's stock valued at $153,462,000 after purchasing an additional 72,391 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Comerica by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 2,214,963 shares of the financial services provider's stock worth $137,039,000 after buying an additional 103,118 shares during the period. Institutional investors and hedge funds own 80.74% of the company's stock.

About Comerica

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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