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

Comerica (NYSE:CMA - Get Free Report) had its target price lifted by equities researchers at Truist Financial from $61.00 to $68.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a "hold" rating on the financial services provider's stock. Truist Financial's target price indicates a potential upside of 0.02% from the company's current price.

Other analysts have also issued research reports about the stock. Wells Fargo & Company lowered their target price on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Citigroup upped their price target on shares of Comerica from $54.00 to $61.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Piper Sandler upped 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. DA Davidson set a $60.00 price target on shares of Comerica and gave the stock a "neutral" rating in a research report on Monday, July 21st. Finally, JPMorgan Chase & Co. upped their price target on shares of Comerica from $52.00 to $60.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Six analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $63.25.

Comerica Trading Up 0.7%

CMA stock traded up $0.51 during midday trading on Thursday, reaching $67.99. 3,551,749 shares of the company's stock traded hands, compared to its average volume of 2,510,828. The business has a 50-day moving average price of $59.76 and a two-hundred day moving average price of $59.71. 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 current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $8.93 billion, a P/E ratio of 13.02 and a beta of 0.92.

Comerica (NYSE:CMA - Get Free Report) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.42 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.19. The business had revenue of $849.00 million for 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 in the previous year, the company posted $1.49 earnings per share. Equities research analysts forecast that Comerica will post 5.28 EPS for the current fiscal year.

Institutional Investors Weigh In On Comerica

Institutional investors and hedge funds have recently bought and sold shares of the business. MorganRosel Wealth Management LLC acquired a new stake in Comerica in the 1st quarter valued at about $33,000. Gen Wealth Partners Inc purchased a new stake in Comerica during the first quarter valued at about $34,000. Geneos Wealth Management Inc. lifted its stake in Comerica by 41.8% during the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider's stock valued at $35,000 after buying an additional 176 shares in the last quarter. Quarry LP lifted its stake in Comerica by 152.0% during the fourth quarter. Quarry LP now owns 867 shares of the financial services provider's stock valued at $54,000 after buying an additional 523 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Comerica during the first quarter valued at about $55,000. 80.74% of the stock is owned by institutional investors and hedge funds.

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.