Comerica’s (CMA) Overweight Rating Reiterated at Stephens

Comerica (NYSE:CMA)‘s stock had its “overweight” rating restated by analysts at Stephens in a research report issued to clients and investors on Friday, Benzinga reports. They presently have a $64.00 price target on the financial services provider’s stock. Stephens’ price target would indicate a potential upside of 24.01% from the company’s current price.

CMA has been the topic of a number of other reports. The Goldman Sachs Group raised shares of Comerica from a “neutral” rating to a “buy” rating and set a $70.50 price objective on the stock in a research report on Thursday, January 4th. Keefe, Bruyette & Woods lowered their price objective on Comerica from $60.00 to $58.00 and set a “market perform” rating for the company in a research report on Monday, January 22nd. Truist Financial raised their target price on Comerica from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Monday, April 1st. Bank Of America (Bofa) increased their price target on shares of Comerica from $52.00 to $55.00 and gave the company a “neutral” rating in a research note on Thursday, January 18th. Finally, Argus cut shares of Comerica from a “buy” rating to a “hold” rating in a report on Monday, January 29th. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $57.50.

Comerica Trading Up 1.9 %

Shares of CMA stock traded up $0.95 during trading hours on Friday, hitting $51.61. The company had a trading volume of 442,098 shares, compared to its average volume of 2,096,262. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a market capitalization of $6.84 billion, a PE ratio of 8.00 and a beta of 1.27. The company’s fifty day moving average is $51.38 and its 200 day moving average is $49.15. Comerica has a fifty-two week low of $28.40 and a fifty-two week high of $57.39.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.13 by $0.16. Comerica had a net margin of 16.71% and a return on equity of 19.41%. During the same quarter in the previous year, the firm earned $2.39 EPS. Research analysts expect that Comerica will post 5.09 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the transaction, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at $920,840.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Comerica news, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following the completion of the transaction, the executive vice president now directly owns 8,314 shares in the company, valued at approximately $454,276.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. 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 modified their holdings of the business. First Trust Advisors LP grew its holdings in Comerica by 1,192.2% during the 1st quarter. First Trust Advisors LP now owns 3,878,506 shares of the financial services provider’s stock valued at $168,405,000 after buying an additional 3,578,355 shares during the last quarter. Norges Bank purchased a new stake in shares of Comerica in the fourth quarter valued at $113,763,000. BlackRock Inc. boosted its stake in shares of Comerica by 9.4% during the first quarter. BlackRock Inc. now owns 13,313,998 shares of the financial services provider’s stock valued at $578,094,000 after acquiring an additional 1,145,951 shares during the last quarter. Azora Capital LP purchased a new stake in Comerica during the 4th quarter worth about $63,548,000. Finally, Vaughan Nelson Investment Management L.P. raised its stake in Comerica by 129.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock valued at $107,716,000 after purchasing an additional 1,088,330 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other 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.