Jefferies Financial Group Forecasts Strong Price Appreciation for Comerica (NYSE:CMA) Stock

Key Points

• Jefferies Financial Group has increased its price target for Comerica (NYSE:CMA) stock from $75.00 to $85.00, indicating a potential upside of 6% from the current price.
• Analysts currently have a consensus rating of "Hold" for Comerica, with five analysts rating the stock as a Buy, fourteen as Hold, and four as Sell.
• Insider transactions revealed that executives James Mcgregor Carr and Allysun C. Fleming sold shares recently, leading to a decrease in their ownership positions by 10.67% and 18.22% respectively.

Comerica (NYSE:CMA - Get Free Report) had its price objective upped by research analysts at Jefferies Financial Group from $75.00 to $85.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has a "hold" rating on the financial services provider's stock. Jefferies Financial Group's price target would suggest a potential upside of 6.00% from the company's current price.

Several other equities research analysts also recently commented on CMA. Cowen initiated coverage on shares of Comerica in a research report on Wednesday, September 24th. They issued a "hold" rating for the company. Raymond James Financial reiterated a "market perform" rating on shares of Comerica in a report on Tuesday, July 8th. Piper Sandler increased their price target on shares of Comerica from $60.00 to $65.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Evercore ISI decreased their price target on shares of Comerica from $71.00 to $70.00 and set an "underperform" rating for the company in a report on Tuesday, September 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Comerica from $52.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday, July 1st. Five analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat, Comerica has an average rating of "Hold" and a consensus price target of $68.30.

Comerica Stock Performance

Shares of CMA opened at $80.19 on Tuesday. 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 firm's 50 day moving average is $69.04 and its 200-day moving average is $61.69. Comerica has a 12-month low of $48.12 and a 12-month high of $83.22. The stock has a market capitalization of $10.31 billion, a P/E ratio of 15.36, a P/E/G ratio of 12.64 and a beta of 0.96.

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

Insider Transactions at Comerica

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Lynx Investment Advisory grew its stake in shares of Comerica by 3.3% during the second quarter. Lynx Investment Advisory now owns 5,135 shares of the financial services provider's stock valued at $306,000 after purchasing an additional 163 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in Comerica by 41.8% during the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock worth $35,000 after buying an additional 176 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Comerica by 19.6% during the 2nd quarter. Parallel Advisors LLC now owns 1,152 shares of the financial services provider's stock worth $69,000 after buying an additional 189 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in Comerica by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 37,000 shares of the financial services provider's stock valued at $2,207,000 after buying an additional 200 shares during the last quarter. Finally, MAI Capital Management increased its stake in shares of Comerica by 21.7% in the 2nd quarter. MAI Capital Management now owns 1,146 shares of the financial services provider's stock valued at $68,000 after buying an additional 204 shares during the period. 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.

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