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Comerica (NYSE:CMA) PT Lowered to $55.00

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Comerica (NYSE:CMA - Get Free Report) had its price objective cut by equities research analysts at Truist Financial from $60.00 to $55.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has a "buy" rating on the financial services provider's stock. Truist Financial's target price indicates a potential upside of 14.20% from the stock's current price.

Several other brokerages also recently weighed in on CMA. Jefferies Financial Group lowered their price objective on Comerica from $65.00 to $60.00 and set a "buy" rating for the company in a research report on Monday, April 8th. Deutsche Bank Aktiengesellschaft started coverage on Comerica in a research note on Wednesday, April 10th. They issued a "hold" rating and a $59.00 target price on the stock. Morgan Stanley reissued an "equal weight" rating and set a $53.00 price objective on shares of Comerica in a research report on Monday, April 22nd. Piper Sandler increased their price target on shares of Comerica from $54.00 to $56.00 and gave the stock a "neutral" rating in a research note on Friday, April 26th. Finally, Keefe, Bruyette & Woods reaffirmed a "market perform" rating and set a $58.00 price objective on shares of Comerica in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Comerica presently has an average rating of "Hold" and a consensus target price of $55.77.

View Our Latest Report on CMA


Comerica Price Performance

Shares of NYSE:CMA traded down $0.45 on Thursday, hitting $48.16. The company's stock had a trading volume of 2,508,327 shares, compared to its average volume of 1,990,105. The company has a market capitalization of $6.39 billion, a PE ratio of 9.58 and a beta of 1.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.95. The company has a 50-day simple moving average of $51.60 and a 200 day simple moving average of $51.95. Comerica has a 1 year low of $37.40 and a 1 year high of $57.39.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The firm had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $807.57 million. During the same quarter last year, the company posted $2.39 EPS. Sell-side analysts forecast that Comerica will post 5.19 EPS for the current fiscal year.

Insider Activity

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of Comerica stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the completion of the transaction, the executive vice president now directly owns 7,236 shares of the company's stock, valued at $380,541.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.19% of the company's stock.

Hedge Funds Weigh In On Comerica

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in Comerica by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider's stock valued at $941,968,000 after purchasing an additional 676,959 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Comerica by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,343,131 shares of the financial services provider's stock worth $186,580,000 after buying an additional 48,526 shares during the last quarter. Invesco Ltd. raised its stake in shares of Comerica by 4.4% during the 3rd quarter. Invesco Ltd. now owns 3,097,572 shares of the financial services provider's stock worth $128,704,000 after acquiring an additional 130,997 shares in the last quarter. North Reef Capital Management LP lifted its position in Comerica by 43.0% during the third quarter. North Reef Capital Management LP now owns 2,880,000 shares of the financial services provider's stock valued at $119,664,000 after acquiring an additional 865,870 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Comerica by 60.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,605,943 shares of the financial services provider's stock valued at $145,444,000 after acquiring an additional 984,391 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

About Comerica

(Get Free Report)

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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