Morgan Stanley Raises Comerica (NYSE:CMA) Price Target to $54.00

Comerica (NYSE:CMAFree Report) had its price objective boosted by Morgan Stanley from $45.00 to $54.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the financial services provider’s stock.

Several other equities analysts have also recently issued reports on CMA. Barclays boosted their price target on Comerica from $49.00 to $59.00 and gave the company an underweight rating in a research report on Tuesday, January 2nd. Jefferies Financial Group dropped their price target on Comerica from $59.00 to $45.00 in a research report on Tuesday, October 10th. Argus cut Comerica from a buy rating to a hold rating in a research report on Monday, January 29th. Piper Sandler dropped their price target on Comerica from $48.00 to $43.00 and set a neutral rating on the stock in a research report on Monday, October 23rd. Finally, The Goldman Sachs Group upgraded Comerica from a neutral rating to a buy rating and set a $70.50 price target on the stock in a research report on Thursday, January 4th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $55.98.

View Our Latest Stock Report on CMA

Comerica Stock Up 0.5 %

CMA opened at $51.35 on Wednesday. The business’s 50-day simple moving average is $53.52 and its 200-day simple moving average is $47.79. The company has a debt-to-equity ratio of 1.03, a quick ratio of 0.92 and a current ratio of 0.94. Comerica has a one year low of $28.40 and a one year high of $76.16. The stock has a market capitalization of $6.77 billion, a P/E ratio of 7.97 and a beta of 1.29.

Comerica (NYSE:CMAGet Free Report) last posted its earnings results on Friday, January 19th. The financial services provider reported $1.46 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.08. Comerica had a return on equity of 19.41% and a net margin of 16.71%. The business had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $826.07 million. During the same quarter in the previous year, the firm earned $2.58 earnings per share. Analysts anticipate that Comerica will post 5.36 EPS for the current year.

Insider Transactions at Comerica

In other news, EVP Cassandra M. Mckinney sold 1,616 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the sale, the executive vice president now owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.76% of the company’s stock.

Institutional Investors Weigh In On Comerica

Large investors have recently bought and sold shares of the stock. Spire Wealth Management grew its holdings in Comerica by 95.9% during the 4th quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after buying an additional 235 shares during the last quarter. Deseret Mutual Benefit Administrators grew its holdings in Comerica by 42.8% during the 2nd quarter. Deseret Mutual Benefit Administrators now owns 664 shares of the financial services provider’s stock valued at $28,000 after buying an additional 199 shares during the last quarter. Chilton Capital Management LLC acquired a new stake in Comerica during the 1st quarter valued at $28,000. Geneos Wealth Management Inc. grew its holdings in Comerica by 40.0% during the 2nd quarter. Geneos Wealth Management Inc. now owns 700 shares of the financial services provider’s stock valued at $30,000 after buying an additional 200 shares during the last quarter. Finally, Penserra Capital Management LLC acquired a new stake in Comerica during the 2nd quarter valued at $35,000. Institutional investors and hedge funds own 81.94% of the company’s stock.

About Comerica

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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, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services, as well as payment and card services for small and middle market businesses, multinational corporations, and governmental entities.

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