DA Davidson Boosts Comerica (NYSE:CMA) Price Target to $68.00

Comerica (NYSE:CMA) had its price target boosted by DA Davidson from $64.00 to $68.00 in a research report released on Monday, Benzinga reports. DA Davidson currently has a neutral rating on the financial services provider’s stock. DA Davidson also issued estimates for Comerica’s Q4 2024 earnings at $1.31 EPS, FY2024 earnings at $5.41 EPS and FY2025 earnings at $5.68 EPS.

Other analysts have also issued research reports about the company. Piper Sandler lifted their target price on Comerica from $51.00 to $52.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Royal Bank of Canada dropped 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. Keefe, Bruyette & Woods upgraded Comerica from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $50.00 to $69.00 in a research note on Thursday, September 5th. Wedbush upgraded Comerica from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $52.00 to $75.00 in a research report on Tuesday, September 24th. Finally, Wells Fargo & Company lifted their target price on Comerica from $43.00 to $51.00 and gave the company an “underweight” rating in a research report on Monday. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Comerica has a consensus rating of “Hold” and a consensus price target of $62.57.

Comerica Stock Down 0.5 %

CMA stock opened at $62.00 on Monday. The firm has a market cap of $8.22 billion, a PE ratio of 12.33 and a beta of 1.23. The business has a 50 day moving average of $58.28 and a 200 day moving average of $53.90. Comerica has a twelve month low of $37.48 and a twelve month high of $66.06. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.23.

Comerica (NYSE:CMA) last posted its earnings results on Friday, October 18th. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 15.01% and a net margin of 12.15%. During the same quarter last year, the company earned $1.84 EPS. On average, research analysts forecast that Comerica will post 5.12 EPS for the current fiscal year.

Insider Transactions at Comerica

In other news, EVP Christine M. Moore sold 2,545 shares of Comerica 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 sale, the executive vice president now directly owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

Several large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its stake in Comerica by 12.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 80,847 shares of the financial services provider’s stock worth $4,801,000 after acquiring an additional 9,052 shares during the last quarter. CWC Advisors LLC. bought a new stake in Comerica during the third quarter worth approximately $424,000. Assenagon Asset Management S.A. increased its stake in Comerica by 97.2% during the third quarter. Assenagon Asset Management S.A. now owns 435,085 shares of the financial services provider’s stock worth $26,066,000 after acquiring an additional 214,426 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Comerica during the third quarter worth approximately $11,091,000. Finally, Plan Group Financial LLC increased its stake in Comerica by 15.6% during the third quarter. Plan Group Financial LLC now owns 12,886 shares of the financial services provider’s stock worth $772,000 after acquiring an additional 1,739 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

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.