Comerica Inc. (CMA) Price Target Increased to $53.00 by Analysts at Credit Agricole SA
Comerica Inc. (NYSE:CMA) had its target price boosted by stock analysts at Credit Agricole SA from $50.00 to $53.00 in a report issued on Tuesday. The firm presently has an “outperform” rating on the financial services provider’s stock. Credit Agricole SA‘s target price would suggest a potential upside of 11.39% from the company’s current price.
Several hedge funds have recently added to or reduced their stakes in CMA. PineBridge Investments L.P. raised its stake in Comerica by 2.7% in the fourth quarter. PineBridge Investments L.P. now owns 69,512 shares of the financial services provider’s stock worth $2,908,000 after buying an additional 1,819 shares during the last quarter. Capstone Investment Advisors LLC purchased a new stake in Comerica during the fourth quarter worth $1,129,000. EverPoint Asset Management LLC raised its stake in Comerica by 75.0% in the fourth quarter. EverPoint Asset Management LLC now owns 280,000 shares of the financial services provider’s stock worth $11,712,000 after buying an additional 120,000 shares during the last quarter. Brandywine Global Investment Management LLC raised its stake in Comerica by 0.9% in the fourth quarter. Brandywine Global Investment Management LLC now owns 169,713 shares of the financial services provider’s stock worth $7,100,000 after buying an additional 1,526 shares during the last quarter. Finally, Allstate Corp raised its stake in Comerica by 7.4% in the fourth quarter. Allstate Corp now owns 54,048 shares of the financial services provider’s stock worth $2,261,000 after buying an additional 3,712 shares during the last quarter.
In other Comerica news, insider Paul R. Obermeyer sold 2,302 shares of the business’s stock in a transaction dated Thursday, August 25th. The shares were sold at an average price of $45.92, for a total transaction of $105,707.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
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Several other equities analysts have also weighed in on the stock. Bank of America Corp. lowered shares of Comerica from a “neutral” rating to an “underperform” rating and lifted their target price for the company from $30.48 to $36.00 in a report on Wednesday, June 29th. Zacks Investment Research raised shares of Comerica from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Monday, July 25th. Wells Fargo & Co. raised shares of Comerica from an “underperform” rating to a “market perform” rating in a report on Friday, July 8th. They noted that the move was a valuation call. JPMorgan Chase & Co. cut their target price on shares of Comerica from $47.00 to $43.00 and set a “neutral” rating for the company in a report on Thursday, July 7th. Finally, Goldman Sachs Group raised shares of Comerica from a “sell” rating to a “neutral” rating and lifted their target price for the company from $42.00 to $49.00 in a report on Thursday, May 19th. Two equities research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $44.29.
Shares of Comerica (NYSE:CMA) opened at 47.46 on Tuesday. The stock has a market cap of $8.25 billion and a P/E ratio of 20.61. Comerica has a 1-year low of $30.48 and a 1-year high of $47.70. The company’s 50-day moving average is $45.72 and its 200-day moving average is $42.16.
Comerica (NYSE:CMA) last posted its quarterly earnings results on Tuesday, July 19th. The financial services provider reported $0.58 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.69 by $0.11. Equities analysts expect that Comerica will post $2.42 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th will be paid a dividend of $0.23 per share. This is a positive change from Comerica’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend is Tuesday, September 13th. This represents a $0.92 dividend on an annualized basis and a yield of 1.93%.
Comerica Incorporated (Comerica) is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. Comerica has its operations in three business segments: the Business Bank, the Retail Bank and Wealth Management. In addition to the three business segments, it also operates in the Finance segment.
To view Credit Agricole SA’s full report, visit Credit Agricole SA’s official website.
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