Stephens Increases Comerica (NYSE:CMA) Price Target to $68.00

Comerica (NYSE:CMA - Get Free Report) had its target price increased by investment analysts at Stephens from $61.00 to $68.00 in a research report issued on Monday,Benzinga reports. The firm presently has an "equal weight" rating on the financial services provider's stock. Stephens' price objective would suggest a potential upside of 4.01% from the stock's previous close.

Other equities research analysts also recently issued reports about the stock. Truist Financial set a $61.00 price target on shares of Comerica and gave the stock a "hold" rating in a report on Friday, June 13th. JPMorgan Chase & Co. raised their target price 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. Jefferies Financial Group began coverage on shares of Comerica in a research note on Wednesday, May 21st. They issued an "underperform" rating and a $47.00 target price on the stock. Morgan Stanley downgraded shares of Comerica from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $63.00 to $55.00 in a research note on Monday, April 7th. Finally, Piper Sandler raised their target price on shares of Comerica from $57.00 to $60.00 and gave the company a "neutral" rating in a research note on Wednesday, June 11th. Six analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $62.75.

Comerica Price Performance

CMA opened at $65.38 on Monday. The firm has a market cap of $8.59 billion, a P/E ratio of 12.52 and a beta of 0.92. The firm has a 50-day moving average of $59.00 and a 200 day moving average of $59.55. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.96 and a current ratio of 0.96. Comerica has a fifty-two week low of $48.12 and a fifty-two week high of $73.45.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. MorganRosel Wealth Management LLC bought a new stake in Comerica in the first quarter valued at $33,000. Gen Wealth Partners Inc bought a new stake in Comerica in the first quarter valued at $34,000. Geneos Wealth Management Inc. boosted its holdings in Comerica by 41.8% in the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock valued at $35,000 after acquiring an additional 176 shares in the last quarter. Quarry LP boosted its holdings in Comerica by 152.0% in the fourth quarter. Quarry LP now owns 867 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 523 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Comerica in the first quarter valued at $55,000. 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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