Comerica (NYSE:CMA – Get Free Report) had its price objective hoisted by equities research analysts at The Goldman Sachs Group from $55.00 to $63.00 in a report released on Monday, Benzinga reports. The brokerage presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 8.86% from the stock’s previous close.
A number of other analysts have also commented on the stock. Robert W. Baird decreased their price target on shares of Comerica from $72.00 to $68.00 and set an “outperform” rating for the company in a research note on Thursday, June 20th. Barclays decreased their target price on shares of Comerica from $59.00 to $56.00 and set an “underweight” rating for the company in a research report on Monday, July 22nd. Raymond James upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 target price on the stock in a report on Tuesday, July 2nd. Piper Sandler lifted their price target on Comerica from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Finally, Royal Bank of Canada lowered their price objective on Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Comerica has a consensus rating of “Hold” and a consensus price target of $59.24.
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Comerica Price Performance
Comerica (NYSE:CMA – Get Free Report) last announced its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.30. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $812.79 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same quarter in the prior year, the company earned $2.01 earnings per share. Equities research analysts anticipate that Comerica will post 5.06 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the stock in a transaction on Friday, August 23rd. The stock was sold at an average price of $57.51, for a total transaction of $146,362.95. Following the completion of the transaction, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.19% of the stock is currently owned by insiders.
Hedge Funds Weigh In On Comerica
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its stake in shares of Comerica by 105.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 182,402 shares of the financial services provider’s stock valued at $10,031,000 after buying an additional 3,595,036 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Comerica by 51.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock worth $206,468,000 after acquiring an additional 1,370,886 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Comerica by 51.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock worth $143,109,000 after acquiring an additional 870,812 shares during the period. Samlyn Capital LLC purchased a new position in shares of Comerica in the second quarter valued at $35,375,000. Finally, Vanguard Group Inc. raised its stake in shares of Comerica by 4.2% during the 4th 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 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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