Comerica (NYSE:CMA) Now Covered by Cantor Fitzgerald

Key Points

• Cantor Fitzgerald has initiated coverage of Comerica (NYSE:CMA) with a "neutral" rating and a price target of $72.00, indicating a potential upside of 4.67% from its last close.
• Comerica's recent quarterly earnings report showed an EPS of $1.42, surpassing expectations of $1.23, with revenue reaching $849 million.
• The stock holds an average rating of "Hold" from analysts, with a consensus target price of $65.00 based on a mix of ratings including five Buy, twelve Hold, and five Sell ratings.

Research analysts at Cantor Fitzgerald began coverage on shares of Comerica (NYSE:CMA - Get Free Report) in a research note issued on Wednesday,Benzinga reports. The brokerage set a "neutral" rating and a $72.00 price target on the financial services provider's stock. Cantor Fitzgerald's target price would suggest a potential upside of 4.67% from the company's previous close.

A number of other research analysts have also recently commented on the company. UBS Group set a $64.00 price target on Comerica and gave the stock a "neutral" rating in a research note on Monday, July 21st. Citigroup upped their price target on Comerica from $54.00 to $61.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Stephens restated an "equal weight" rating on shares of Comerica in a research note on Monday, July 21st. Piper Sandler upped their price target on Comerica from $60.00 to $65.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Finally, Jefferies Financial Group increased their price objective on Comerica from $70.00 to $75.00 and gave the company a "hold" rating in a research note on Wednesday, September 3rd. Five investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and five have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Comerica has an average rating of "Hold" and a consensus target price of $65.00.

Comerica Price Performance

CMA stock opened at $68.79 on Wednesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.96 and a quick ratio of 0.96. The business has a 50 day simple moving average of $66.89 and a 200-day simple moving average of $60.37. The firm has a market capitalization of $8.84 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 12.39 and a beta of 0.97. Comerica has a 1 year low of $48.12 and a 1 year high of $73.45.

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

Insiders Place Their Bets

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

Institutional Trading of Comerica

Hedge funds and other institutional investors have recently made changes to their positions in the company. MorganRosel Wealth Management LLC acquired a new stake in shares of Comerica during the first quarter worth about $33,000. Gen Wealth Partners Inc acquired a new stake in shares of Comerica during the first quarter worth about $34,000. Geneos Wealth Management Inc. increased its position in shares of Comerica by 41.8% during the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock worth $35,000 after purchasing an additional 176 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Comerica during the second quarter worth about $35,000. Finally, Employees Retirement System of Texas acquired a new stake in shares of Comerica during the second quarter worth about $48,000. 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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