Analysts Set Comerica Incorporated (NYSE:CMA) PT at $59.62

Comerica Incorporated (NYSE:CMA) has earned a consensus recommendation of “Hold” from the twenty-two ratings firms that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and eight have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $62.57.

Several equities research analysts have recently commented on CMA shares. Royal Bank of Canada decreased 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. Bank of America lowered Comerica from a “neutral” rating to an “underperform” rating and decreased their price target for the stock from $55.00 to $52.00 in a research note on Monday, October 7th. Stephens boosted their price target on Comerica from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday. Wedbush raised Comerica from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $52.00 to $75.00 in a research note on Tuesday, September 24th. Finally, DA Davidson boosted their price target on Comerica from $64.00 to $68.00 and gave the stock a “neutral” rating in a research note on Monday.

Insiders Place Their Bets

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 transaction, the executive vice president now owns 27,910 shares of the company’s stock, valued at $1,605,104.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, EVP Bruce Mitchell sold 7,564 shares of the stock in a transaction on Tuesday, October 22nd. The stock was 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 of the company’s stock, valued at approximately $1,021,821.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $146,362.95. Following the completion of the transaction, the executive vice president now directly owns 27,910 shares in the company, valued at $1,605,104.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Comerica by 4.2% in the fourth 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. Dimensional Fund Advisors LP raised its position in 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 valued at $206,468,000 after purchasing an additional 1,370,886 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in Comerica by 1.1% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,834,304 shares of the financial services provider’s stock valued at $93,621,000 after purchasing an additional 19,068 shares during the period. Bank of New York Mellon Corp raised its position in Comerica by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 1,533,857 shares of the financial services provider’s stock valued at $78,288,000 after purchasing an additional 130,458 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in Comerica by 6.5% in the second quarter. Thrivent Financial for Lutherans now owns 1,431,750 shares of the financial services provider’s stock valued at $73,077,000 after purchasing an additional 87,101 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Price Performance

Shares of CMA opened at $62.92 on Friday. Comerica has a twelve month low of $37.48 and a twelve month high of $66.06. The stock’s 50 day moving average is $58.59 and its two-hundred day moving average is $54.02. The firm has a market capitalization of $8.34 billion, a PE ratio of 12.51 and a beta of 1.23. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Friday, October 18th. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.16. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $806.49 million. During the same quarter in the previous year, the company earned $1.84 EPS. Research analysts anticipate that Comerica will post 5.12 earnings per share for the current year.

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.