Morgan Stanley Increases Comerica (NYSE:CMA) Price Target to $67.00

Comerica (NYSE:CMA - Get Free Report) had its target price upped by equities researchers at Morgan Stanley from $63.00 to $67.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an "equal weight" rating on the financial services provider's stock. Morgan Stanley's price target would indicate a potential upside of 8.03% from the company's previous close.

Other equities analysts have also recently issued reports about the company. Raymond James upgraded Comerica from a "market perform" rating to an "outperform" rating and set a $60.00 price objective for the company in a report on Tuesday, July 2nd. Piper Sandler upped their target price on Comerica from $51.00 to $52.00 and gave the stock a "neutral" rating in a research note on Monday, July 22nd. Evercore ISI lifted their price target on shares of Comerica from $58.00 to $64.00 and gave the stock an "in-line" rating in a research note on Wednesday, October 2nd. Wedbush upgraded shares of Comerica from a "neutral" rating to an "outperform" rating and boosted their price objective for the stock from $52.00 to $75.00 in a report on Tuesday, September 24th. Finally, Barclays increased their target price on shares of Comerica from $56.00 to $66.00 and gave the company an "underweight" rating in a report on Monday. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $62.19.

Comerica Stock Performance

Shares of CMA stock traded down $2.92 during trading on Monday, reaching $62.02. 2,779,377 shares of the company's stock traded hands, compared to its average volume of 2,162,192. Comerica has a 1 year low of $37.40 and a 1 year high of $66.06. The company has a market capitalization of $8.22 billion, a P/E ratio of 12.36 and a beta of 1.23. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. The firm's 50-day moving average is $57.96 and its 200 day moving average is $53.77.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings results on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.16. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $806.49 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same period last year, the company earned $1.84 earnings per share. Equities research analysts expect that Comerica will post 5.12 EPS for the current year.

Insider Buying and Selling

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the transaction, the executive vice president now owns 27,910 shares in the company, valued at approximately $1,605,104.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is owned by insiders.

Institutional Trading of Comerica

Hedge funds have recently modified their holdings of the business. Principal Financial Group Inc. boosted its stake in Comerica by 1.2% during the first quarter. Principal Financial Group Inc. now owns 161,243 shares of the financial services provider's stock worth $8,867,000 after acquiring an additional 1,858 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of Comerica by 3.1% in the 1st quarter. Commonwealth Equity Services LLC now owns 87,160 shares of the financial services provider's stock worth $4,793,000 after purchasing an additional 2,580 shares in the last quarter. HB Wealth Management LLC grew its stake in shares of Comerica by 7.5% in the 1st quarter. HB Wealth Management LLC now owns 5,128 shares of the financial services provider's stock worth $282,000 after buying an additional 356 shares during the last quarter. Mission Wealth Management LP increased its position in Comerica by 11.3% during the 1st quarter. Mission Wealth Management LP now owns 6,322 shares of the financial services provider's stock valued at $348,000 after buying an additional 644 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in Comerica by 13.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,189 shares of the financial services provider's stock valued at $3,375,000 after buying an additional 7,418 shares during the last quarter. 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.