Comerica (NYSE:CMA) Price Target Increased to $71.00 by Analysts at The Goldman Sachs Group

Comerica (NYSE:CMA) had its target price lifted by The Goldman Sachs Group from $63.00 to $71.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the financial services provider’s stock. The Goldman Sachs Group’s target price would indicate a potential upside of 14.68% from the stock’s current price.

Several other equities analysts have also issued reports on the stock. Morgan Stanley lifted their target price on shares of Comerica from $63.00 to $67.00 and gave the company an “equal weight” rating in a report on Monday. DA Davidson boosted their target price on Comerica from $64.00 to $68.00 and gave the stock a “neutral” rating in a report on Monday. Evercore ISI increased their target price on Comerica from $58.00 to $64.00 and gave the stock an “in-line” rating in a research note on Wednesday, October 2nd. Wedbush upgraded shares of Comerica from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $52.00 to $75.00 in a research note on Tuesday, September 24th. Finally, StockNews.com upgraded shares of Comerica from a “sell” rating to a “hold” rating in a research note on Monday. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $62.57.

Comerica Stock Down 0.2 %

Shares of NYSE:CMA traded down $0.12 during trading on Tuesday, hitting $61.91. The stock had a trading volume of 291,473 shares, compared to its average volume of 2,153,158. The company has a market capitalization of $8.21 billion, a PE ratio of 12.31 and a beta of 1.23. 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 firm’s fifty day moving average is $57.96 and its 200 day moving average is $53.77. Comerica has a 12 month low of $37.40 and a 12 month high of $66.06.

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

Insider Transactions at Comerica

In related news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction on Friday, August 23rd. The shares were 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 in the company, valued at approximately $1,605,104.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Comerica

Several institutional investors and hedge funds have recently modified their holdings of CMA. OLD National Bancorp IN increased its holdings in Comerica by 4.9% in the 2nd quarter. OLD National Bancorp IN now owns 237,650 shares of the financial services provider’s stock valued at $12,130,000 after acquiring an additional 11,049 shares during the last quarter. Entropy Technologies LP purchased a new position in shares of Comerica in the 1st quarter worth approximately $1,764,000. SG Americas Securities LLC increased its position in shares of Comerica by 66.2% during the 2nd quarter. SG Americas Securities LLC now owns 62,868 shares of the financial services provider’s stock valued at $3,209,000 after purchasing an additional 25,040 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Comerica by 39.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 220,659 shares of the financial services provider’s stock valued at $11,262,000 after buying an additional 62,269 shares during the period. Finally, LSV Asset Management lifted its position in Comerica by 13.6% in the first quarter. LSV Asset Management now owns 835,389 shares of the financial services provider’s stock worth $45,938,000 after buying an additional 100,189 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.