Barclays Increases Comerica (NYSE:CMA) Price Target to $66.00

Comerica (NYSE:CMA) had its price objective hoisted by Barclays from $56.00 to $66.00 in a research report released on Monday morning, Benzinga reports. Barclays currently has an underweight rating on the financial services provider’s stock.

CMA has been the topic of several other reports. Royal Bank of Canada reduced their price target on Comerica from $58.00 to $56.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. StockNews.com lowered shares of Comerica from a “hold” rating to a “sell” rating in a research note on Friday, October 11th. Wedbush raised shares of Comerica from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $52.00 to $75.00 in a research report on Tuesday, September 24th. JPMorgan Chase & Co. upped their price objective on shares of Comerica from $57.00 to $65.00 and gave the stock a “neutral” rating in a report on Wednesday, October 9th. Finally, The Goldman Sachs Group lifted their target price on shares of Comerica from $55.00 to $63.00 and gave the company a “buy” rating in a report on Monday, October 7th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $62.57.

Comerica Stock Performance

Shares of CMA stock opened at $62.92 on Monday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. The stock has a fifty day moving average of $58.59 and a 200 day moving average of $54.02. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of 12.51 and a beta of 1.23. Comerica has a 52 week low of $37.48 and a 52 week high of $66.06.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.17 by $0.16. The business had revenue of $1.26 billion during the quarter, compared to analyst estimates of $806.49 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same period last year, the business posted $1.84 earnings per share. As a group, research analysts expect that Comerica will post 5.12 earnings per share for the current year.

Insider Activity

In related news, EVP Christine M. Moore sold 2,545 shares of Comerica 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 transaction, the executive vice president now directly owns 27,910 shares in the company, valued at approximately $1,605,104.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction dated Friday, August 23rd. The stock was sold at an average price of $57.51, for a total value of $146,362.95. Following the completion of the sale, the executive vice president now owns 27,910 shares in the company, valued at $1,605,104.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Bruce Mitchell sold 7,564 shares of Comerica stock in a transaction dated Tuesday, October 22nd. The shares were sold at an average price of $62.20, for a total value of $470,480.80. Following the transaction, the executive vice president now directly owns 16,428 shares in the company, valued at approximately $1,021,821.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Principal Financial Group Inc. grew its position in shares of Comerica by 1.2% during the first quarter. Principal Financial Group Inc. now owns 161,243 shares of the financial services provider’s stock worth $8,867,000 after purchasing an additional 1,858 shares in the last quarter. Commonwealth Equity Services LLC raised its position in shares of Comerica by 3.1% during the first quarter. Commonwealth Equity Services LLC now owns 87,160 shares of the financial services provider’s stock valued at $4,793,000 after buying an additional 2,580 shares during the last quarter. HB Wealth Management LLC raised its position in shares of Comerica by 7.5% during the first quarter. HB Wealth Management LLC now owns 5,128 shares of the financial services provider’s stock valued at $282,000 after buying an additional 356 shares during the last quarter. Mission Wealth Management LP lifted its holdings in shares of Comerica by 11.3% in the first quarter. Mission Wealth Management LP now owns 6,322 shares of the financial services provider’s stock worth $348,000 after buying an additional 644 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Comerica by 13.1% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 64,189 shares of the financial services provider’s stock worth $3,375,000 after acquiring an additional 7,418 shares during the last quarter. 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.