Keefe, Bruyette & Woods Trims Comerica (NYSE:CMA) Target Price to $56.00

Comerica (NYSE:CMAGet Free Report) had its price target dropped by investment analysts at Keefe, Bruyette & Woods from $58.00 to $56.00 in a report issued on Tuesday, Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 6.75% from the stock’s current price.

CMA has been the subject of a number of other reports. Wells Fargo & Company reduced their price objective on shares of Comerica from $48.00 to $45.00 and set an “underweight” rating for the company in a research note on Wednesday, June 12th. Royal Bank of Canada cut their target price on shares of Comerica from $62.00 to $58.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. JPMorgan Chase & Co. cut their target price on shares of Comerica from $62.00 to $57.00 and set a “neutral” rating for the company in a research note on Thursday, June 27th. Evercore ISI cut their target price on shares of Comerica from $58.00 to $54.00 and set an “in-line” rating for the company in a research note on Tuesday, June 25th. Finally, Truist Financial cut their target price on shares of Comerica from $60.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, June 13th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $55.96.

View Our Latest Stock Analysis on Comerica

Comerica Stock Performance

Shares of CMA opened at $52.46 on Tuesday. The company’s 50 day moving average price is $50.49 and its 200 day moving average price is $51.76. Comerica has a 52 week low of $37.40 and a 52 week high of $57.39. The company has a market capitalization of $6.96 billion, a PE ratio of 10.43 and a beta of 1.25. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 0.95.

Comerica (NYSE:CMAGet Free Report) last posted its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $807.57 million. During the same period in the previous year, the company earned $2.39 earnings per share. Research analysts expect that Comerica will post 5.03 EPS for the current fiscal year.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the transaction, the executive vice president now directly owns 7,236 shares in the company, valued at approximately $380,541.24. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Raymond James & Associates raised its position in shares of Comerica by 18.1% in the 4th quarter. Raymond James & Associates now owns 203,324 shares of the financial services provider’s stock valued at $11,348,000 after acquiring an additional 31,125 shares during the period. Avaii Wealth Management LLC acquired a new stake in shares of Comerica in the 4th quarter valued at approximately $679,000. NewEdge Wealth LLC acquired a new stake in shares of Comerica in the 4th quarter valued at approximately $10,068,000. Aigen Investment Management LP acquired a new stake in shares of Comerica in the 4th quarter valued at approximately $891,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Comerica by 1.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 47,903 shares of the financial services provider’s stock valued at $2,673,000 after acquiring an additional 501 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Company Profile

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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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Analyst Recommendations for Comerica (NYSE:CMA)

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