Comerica (NYSE:CMA) Given New $75.00 Price Target at Jefferies Financial Group

Key Points

• Jefferies Financial Group has increased Comerica's price target from $70.00 to $75.00, indicating a potential upside of 6.65% based on the current stock price.
• Comerica's average rating is "Hold," with five analysts giving it a Buy rating, eleven a Hold rating, and five a Sell rating, while the average price target across analysts is $64.65.
• In its latest earnings report, Comerica exceeded expectations with earnings per share of $1.42, surpassing analyst estimates of $1.23, and reported a revenue of $849 million.

Comerica (NYSE:CMA - Get Free Report) had its target price upped by Jefferies Financial Group from $70.00 to $75.00 in a report released on Wednesday,Benzinga reports. The firm presently has a "hold" rating on the financial services provider's stock. Jefferies Financial Group's price objective would indicate a potential upside of 6.65% from the company's current price.

Several other research analysts also recently commented on the company. DA Davidson set a $60.00 price objective on Comerica and gave the stock a "neutral" rating in a report on Monday, July 21st. Citigroup lifted their price target on shares of Comerica from $54.00 to $61.00 and gave the company a "neutral" rating in a report on Wednesday, July 2nd. Truist Financial upped their price objective on shares of Comerica from $61.00 to $68.00 and gave the stock a "hold" rating in a report on Thursday, July 24th. Piper Sandler lifted their target price on shares of Comerica from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, Raymond James Financial reiterated a "market perform" rating on shares of Comerica in a research report on Tuesday, July 8th. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and five have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $64.65.

Comerica Stock Performance

Comerica stock opened at $70.33 on Wednesday. Comerica has a fifty-two week low of $48.12 and a fifty-two week high of $73.45. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $9.04 billion, a P/E ratio of 13.47, a price-to-earnings-growth ratio of 12.73 and a beta of 0.97. The firm's fifty day moving average price is $65.89 and its 200-day moving average price is $60.29.

Comerica (NYSE:CMA - Get Free Report) last released its quarterly earnings results on Friday, July 18th. The financial services provider reported $1.42 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.19. The business had revenue of $849.00 million for the quarter, compared to the consensus estimate of $844.39 million. Comerica had a return on equity of 10.92% and a net margin of 14.92%.During the same quarter last year, the business posted $1.49 earnings per share. On average, equities research analysts expect that Comerica will post 5.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, EVP Allysun C. Fleming sold 2,100 shares of the company's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $67.03, for a total value of $140,763.00. Following the transaction, the executive vice president owned 9,424 shares in the company, valued at $631,690.72. The trade was a 18.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider James Mcgregor Carr sold 4,000 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $67.28, for a total transaction of $269,120.00. Following the sale, the insider owned 33,471 shares of the company's stock, valued at approximately $2,251,928.88. This represents a 10.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Comerica

Institutional investors have recently made changes to their positions in the company. Centaurus Financial Inc. bought a new position in Comerica in the 2nd quarter valued at approximately $104,000. Orion Porfolio Solutions LLC purchased a new position in shares of Comerica in the second quarter worth $228,000. Rexford Capital Inc. bought a new position in shares of Comerica during the second quarter valued at $324,000. FORA Capital LLC purchased a new stake in shares of Comerica during the second quarter valued at $422,000. Finally, Corient Private Wealth LLC increased its holdings in Comerica by 7.9% in the 2nd quarter. Corient Private Wealth LLC now owns 50,339 shares of the financial services provider's stock worth $3,003,000 after buying an additional 3,664 shares in the last quarter. Hedge funds and other institutional investors 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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