Comerica (NYSE:CMA) PT Raised to $70.00 at JPMorgan Chase & Co.

Comerica (NYSE:CMA) had its target price upped by JPMorgan Chase & Co. from $65.00 to $70.00 in a report released on Monday morning, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

Several other brokerages also recently issued reports on CMA. Wells Fargo & Company lifted their price objective on Comerica from $43.00 to $51.00 and gave the company an “underweight” rating in a research report on Monday. The Goldman Sachs Group upped their price target on shares of Comerica from $55.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Raymond James upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research report on Tuesday, July 2nd. Morgan Stanley upped their target price on shares of Comerica from $61.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Monday, September 30th. Finally, Evercore ISI raised their price target on shares of Comerica from $58.00 to $64.00 and gave the company an “in-line” rating in a report on Wednesday, October 2nd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.57.

Comerica Stock Up 1.5 %

CMA opened at $62.92 on Monday. Comerica has a twelve month low of $37.48 and a twelve month high of $66.06. The firm has a market cap of $8.34 billion, a price-to-earnings ratio of 12.51 and a beta of 1.23. The firm’s 50-day simple moving average is $58.59 and its 200-day simple moving average is $54.02. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.96 and a current ratio of 0.96.

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

Insiders Place Their Bets

In other news, EVP Bruce Mitchell sold 7,564 shares of the business’s stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $62.20, for a total value of $470,480.80. Following the completion of the transaction, the executive vice president now owns 16,428 shares of the company’s stock, valued at $1,021,821.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Comerica news, EVP Bruce Mitchell sold 7,564 shares of Comerica stock in a transaction dated Tuesday, October 22nd. The stock was sold at an average price of $62.20, for a total transaction of $470,480.80. Following the transaction, the executive vice president now directly owns 16,428 shares in the company, valued at approximately $1,021,821.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Christine M. Moore sold 2,545 shares of the business’s stock in a transaction dated Friday, August 23rd. The shares were 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 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 disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

Several hedge funds have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in shares of Comerica in the third quarter valued at approximately $36,000. Family Firm Inc. acquired a new stake in shares of Comerica during the second quarter worth $37,000. UMB Bank n.a. lifted its position in Comerica by 39.3% in the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 208 shares in the last quarter. Versant Capital Management Inc boosted its stake in Comerica by 2,723.3% in the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock worth $43,000 after purchasing an additional 817 shares during the period. Finally, Abich Financial Wealth Management LLC increased its holdings in Comerica by 50.2% during the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 300 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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.