Comerica (NYSE:CMA) Given New $54.00 Price Target at Piper Sandler

Comerica (NYSE:CMA) had its price target boosted by Piper Sandler from $53.00 to $54.00 in a research note released on Friday morning, Benzinga reports. Piper Sandler currently has a neutral rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on the stock. UBS Group dropped their price objective on shares of Comerica from $59.00 to $55.00 and set a neutral rating on the stock in a report on Friday. Deutsche Bank Aktiengesellschaft started coverage on shares of Comerica in a report on Wednesday, April 10th. They issued a hold rating and a $59.00 price objective on the stock. Keefe, Bruyette & Woods lowered their target price on shares of Comerica from $60.00 to $58.00 and set a market perform rating on the stock in a research note on Monday, January 22nd. TheStreet raised shares of Comerica from a c+ rating to a b- rating in a research note on Tuesday, December 26th. Finally, The Goldman Sachs Group raised shares of Comerica from a neutral rating to a buy rating and set a $70.50 target price on the stock in a research note on Thursday, January 4th. Three research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and a consensus price target of $56.89.

Comerica Trading Up 2.0 %

Comerica stock opened at $52.59 on Friday. The firm’s 50-day moving average is $51.38 and its 200-day moving average is $49.45. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.94 and a current ratio of 0.95. Comerica has a 1 year low of $28.40 and a 1 year high of $57.39. The company has a market cap of $6.97 billion, a P/E ratio of 10.46 and a beta of 1.27.

Comerica (NYSE:CMA) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $807.57 million. During the same quarter last year, the company earned $2.39 EPS. On average, equities analysts expect that Comerica will post 5.09 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 5.40%. Comerica’s payout ratio is 56.46%.

Insiders Place Their Bets

In related news, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the sale, the executive vice president now directly owns 17,460 shares in the company, valued at $920,840.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the sale, the executive vice president now directly owns 17,460 shares in the company, valued at $920,840.40. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’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 $454,276.96. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Institutional Trading of Comerica

Institutional investors have recently made changes to their positions in the stock. Oakworth Capital Inc. raised its position in Comerica by 3.2% during the first quarter. Oakworth Capital Inc. now owns 238,228 shares of the financial services provider’s stock valued at $13,100,000 after acquiring an additional 7,365 shares in the last quarter. Lloyd Advisory Services LLC. raised its position in Comerica by 293.0% during the first quarter. Lloyd Advisory Services LLC. now owns 30,795 shares of the financial services provider’s stock valued at $1,693,000 after acquiring an additional 22,960 shares in the last quarter. Contravisory Investment Management Inc. bought a new position in Comerica during the first quarter valued at approximately $497,000. Wedmont Private Capital raised its position in Comerica by 11.5% during the first quarter. Wedmont Private Capital now owns 7,084 shares of the financial services provider’s stock valued at $386,000 after acquiring an additional 730 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Comerica by 7.6% during the first quarter. GAMMA Investing LLC now owns 3,240 shares of the financial services provider’s stock valued at $178,000 after acquiring an additional 230 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.