Comerica (NYSE:CMA) Stock Price Expected to Rise, Evercore ISI Analyst Says

Comerica (NYSE:CMA - Get Free Report) had its target price increased by research analysts at Evercore ISI from $64.00 to $69.00 in a report issued on Wednesday, Benzinga reports. The firm currently has an "in-line" rating on the financial services provider's stock. Evercore ISI's target price suggests a potential upside of 7.01% from the company's current price.

Several other equities research analysts have also recently weighed in on the company. Piper Sandler boosted 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. Raymond James upgraded shares of Comerica from a "market perform" rating to an "outperform" rating and set a $60.00 price objective for the company in a research report on Tuesday, July 2nd. Stephens increased their target price on shares of Comerica from $64.00 to $70.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. Barclays upped their price objective on shares of Comerica from $56.00 to $66.00 and gave the company an "underweight" rating in a research note on Monday, October 21st. Finally, Wedbush upgraded Comerica from a "neutral" rating to an "outperform" rating and lifted their target price for the stock from $52.00 to $75.00 in a research report on Tuesday, September 24th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $62.81.

Comerica Stock Up 2.8 %

Shares of CMA stock traded up $1.76 during trading hours on Wednesday, reaching $64.48. 2,297,639 shares of the stock were exchanged, compared to its average volume of 2,156,910. Comerica has a 12-month low of $38.43 and a 12-month high of $66.06. The business's fifty day moving average is $59.15 and its two-hundred day moving average is $54.32. 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 firm has a market capitalization of $8.55 billion, a P/E ratio of 12.82 and a beta of 1.23.

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

Insider Activity

In related news, EVP Christine M. Moore sold 2,545 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $57.51, for a total transaction of $146,362.95. Following the sale, the executive vice president now owns 27,910 shares of the company's stock, valued at approximately $1,605,104.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the business's stock in a transaction 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 sale, the executive vice president now directly owns 27,910 shares in the company, valued at approximately $1,605,104.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James Harry Weber sold 6,500 shares of the firm's stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $63.23, for a total value of $410,995.00. Following the completion of the transaction, the executive vice president now owns 15,773 shares of the company's stock, valued at approximately $997,326.79. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 16,609 shares of company stock worth $1,027,839 in the last 90 days. 0.19% of the stock is currently owned by corporate insiders.

Institutional Trading of Comerica

Several institutional investors and hedge funds have recently made changes to their positions in the stock. OLD National Bancorp IN grew its holdings in shares of Comerica by 4.9% during the second quarter. OLD National Bancorp IN now owns 237,650 shares of the financial services provider's stock worth $12,130,000 after buying an additional 11,049 shares in the last quarter. Entropy Technologies LP purchased a new position in shares of Comerica during the 1st quarter worth $1,764,000. SG Americas Securities LLC boosted its holdings in shares of Comerica by 66.2% during the second quarter. SG Americas Securities LLC now owns 62,868 shares of the financial services provider's stock worth $3,209,000 after purchasing an additional 25,040 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in 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 valued at $11,262,000 after purchasing an additional 62,269 shares during the last quarter. Finally, LSV Asset Management boosted its stake in Comerica by 13.6% in the 1st quarter. LSV Asset Management now owns 835,389 shares of the financial services provider's stock worth $45,938,000 after buying an additional 100,189 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

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.