Wedbush lowers Comerica (NYSE:CMA) price target to $84.00

Comerica (NYSE:CMA – Get a Rating) saw its price target lowered by Wedbush investment analysts from $95.00 to $84.00 in a research report released on Thursday, reports The Fly. Wedbush’s price target would suggest a potential upside of 24.17% from the company’s previous close.

CMA has been the subject of a number of other research reports. Evercore ISI raised its price target on Comerica to $86.00 in a Friday, July 22 research report. StockNews.com launched coverage on Comerica shares in a Wednesday, October 12, report. They issued a “hold” rating for the company. Piper Sandler raised her price target on Comerica shares from $90.00 to $94.00 and gave the company an “overweight” rating in a Monday, September 12 report. DA Davidson downgraded Comerica shares from a “buy” rating to a “neutral” rating in a report released Thursday. Finally, Wells Fargo & Company lowered its price target on Comerica shares from $82.00 to $77.00 and set an “underweight” rating for the company in a Friday, July 1, report. One investment analyst has assigned the stock a sell rating, seven have issued a hold rating and eleven have assigned the company a buy rating. Based on data from MarketBeat.com, Comerica has an average rating of “Moderate Buy” and a consensus price target of $94.68.

Comerica is trading down 9.0%

Shares of Comerica opened at $67.65 on Thursday. The company has a market capitalization of $8.85 billion, a price/earnings ratio of 9.88, a PEG ratio of 1.24 and a beta of 1.25. The company has a 50-day moving average price of $78.46 and a 200-day moving average price of $79.06. The company has a quick ratio of 0.84, a current ratio of 0.84 and a debt ratio of 0.44. Comerica has a 12-month low of $67.51 and a 12-month high of $102.09.

Comerica (NYSE:CMA – Get Rating) last released its quarterly earnings data on Wednesday, October 19. The financial services provider reported earnings per share of $2.60 for the quarter, beating analyst consensus estimates of $2.57 by $0.03. Comerica had a return on equity of 13.63% and a net margin of 30.42%. In the same quarter last year, the company earned earnings per share of $1.90. Equity research analysts expect Comerica to post an EPS of 8.61 for the current fiscal year.

Insider activity

In other news, Executive Vice President Peter L. Sefzik sold 7,287 Comerica shares in a trade that took place on Thursday, August 11. The shares were sold at an average price of $83.78, for a total transaction of $610,504.86. Following the completion of the sale, the executive vice president now owns 32,007 shares of the company, valued at $2,681,546.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this hyperlink. Insiders own 0.76% of the shares of the company.

Comerica Institutional Trading

Several institutional investors and hedge funds have recently changed their stock holdings. The Louisiana State Employees Retirement System purchased a new equity stake in Comerica during the third quarter worth approximately $597,000. Empirical Asset Management LLC bought a new position in Comerica during the third quarter valued at approximately $231,000. Zhang Financial LLC increased its stake in Comerica by 5.5% during the third quarter. Zhang Financial LLC now owns 5,730 shares of the financial services provider valued at $407,000 after purchasing an additional 300 shares during the period. Pacer Advisors Inc. increased its stake in Comerica by 70.6% during the third quarter. Pacer Advisors Inc. now owns 3,737 shares of the financial services provider valued at $266,000 after purchasing an additional 1,546 shares during the period. Finally, Hexagon Capital Partners LLC increased its stake in Comerica by 125.3% during the third quarter. Hexagon Capital Partners LLC now owns 901 shares of the financial services provider valued at $64,000 after purchasing an additional 501 shares during the period. Institutional investors hold 82.56% of the company’s shares.

Comerica Company Profile

(Get a rating)

Comerica Incorporated, through its subsidiaries, offers various financial products and services. It operates through commercial banking, retail banking, wealth management and finance segments. The Commercial Banking 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, management services foreign exchange and loan syndication services for small and medium market businesses. , multinationals and government entities.

Further reading

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Analyst Recommendations for Comerica (NYSE: CMA)

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