Comerica (NYSE:CMA – Get Rating) had its target price decreased by investment analysts at Raymond James from $85.00 to $84.00 in a report released on Friday, Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price target points to a potential upside of 20.27% from the stock’s previous close.
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Several other equities analysts have also weighed in on the company. Compass Point reduced their price objective on Comerica to $88.00 in a research note on Thursday, October 20th. Piper Sandler reduced their price objective on Comerica to $85.00 in a research note on Thursday, October 20th. The Goldman Sachs Group reduced their price objective on Comerica from $94.00 to $84.00 and set a “neutral” rating on the stock in a research note on Monday, October 3rd. Stephens reduced their price objective on Comerica from $100.00 to $93.00 and set an “overweight” rating on the stock in a research note on Thursday, October 20th. Finally, DA Davidson lifted their price objective on Comerica from $80.00 to $82.00 in a research note on Friday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.74.
Comerica Stock Up 5.9 %
Shares of NYSE:CMA opened at $69.84 on Friday. The stock’s 50-day moving average price is $68.00 and its two-hundred day moving average price is $73.41. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. Comerica has a 12-month low of $62.83 and a 12-month high of $102.09. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of 9.25, a PEG ratio of 1.77 and a beta of 1.18.
Comerica (NYSE:CMA – Get Rating) last issued its quarterly earnings results on Thursday, January 19th. The financial services provider reported $2.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. Comerica had a return on equity of 16.56% and a net margin of 30.73%. During the same period last year, the business posted $1.66 EPS. On average, research analysts forecast that Comerica will post 8.47 EPS for the current year.
Institutional Investors Weigh In On Comerica
A number of institutional investors have recently made changes to their positions in the company. Ronald Blue Trust Inc. bought a new position in Comerica during the 2nd quarter worth $27,000. Financial Gravity Asset Management Inc. bought a new position in Comerica during the 3rd quarter worth $271,000. Oakworth Capital Inc. bought a new position in Comerica during the 2nd quarter worth $34,000. Evoke Wealth LLC grew its stake in Comerica by 38.0% during the 2nd quarter. Evoke Wealth LLC now owns 494 shares of the financial services provider’s stock worth $36,000 after buying an additional 136 shares during the last quarter. Finally, Almanack Investment Partners LLC. bought a new position in Comerica during the 3rd quarter worth $38,000. 81.91% of the stock is currently owned by institutional investors.
Comerica Company Profile
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It 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 for small and middle market businesses, multinational corporations, and governmental entities.
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