Goldman Sachs Group raises its price target on Comerica (NYSE:CMA) to $63.00

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Comerica (NYSE:CMA – Free Report) Their price target was boosted by The Goldman Sachs Group from $55.00 to $63.00 in a research report on Monday morning, Benzinga reports. Goldman Sachs Group currently has a buy rating on the financial services provider’s stock.

Several other equities analysts have also recently weighed in on the company. Robert W. Baird cut their price target on Comerica from $72.00 to $68.00 and set an outperform rating for the company in a research report on Thursday, June 20th. Evercore ISI boosted their price objective on Comerica from $58.00 to $64.00 and gave the company an in-line rating in a research report on Wednesday, October 2nd. StockNews.com upgraded Comerica from a sell rating to a hold rating in a research report on Thursday, October 3rd. Raymond James raised Comerica from a market perform rating to an outperform rating and set a $60.00 price target for the company in a report on Tuesday, July 2nd. Finally, Keefe, Bruyette & Woods upgraded Comerica from a market perform rating to an outperform rating and boosted their price objective for the company from $50.00 to $69.00 in a research note for Thursday, September 5. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $59.62, according to data from MarketBeat.

See our latest report on CMA

Comerica Price Performance

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Shares of Comerica stock opened at $59.33 on Monday. The company’s fifty day simple moving average is $56.58 and two hundred day simple moving average is $53.37. Comerica has a 12-month low of $37.40 and a 12-month high of $61.84. The firm has a market cap of $7.87 billion, a PE ratio of 11.80 and a beta of 1.23. The company has a quick ratio of 0.96, a current ratio of 0.96, and a debt-to-equity ratio of 1.23.

Comerica (NYSE:CMA – Get Free Report ) last posted its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.30. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $812.79 million. During the same period in the previous year, the firm earned $2.01 EPS. As a group, equities analysts expect that Comerica will post 5.06 EPS for the current year.

Comerica announces dividends

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a $0.71 dividend. This represents a dividend of $2.84 on an annualized basis and a yield of 4.79%. The ex-dividend date was Friday, September 13. Comerica’s dividend payout ratio (DPR) is currently 56.46%.

Indoor activity

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the company’s stock in a transaction on 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 owns 27,910 shares of the company’s stock, valued at approximately $1,605,104.10. This trade represents a decrease of 0.00 % in the stock holding. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC’s website. Insiders own 0.19% of the company’s shares.

Institutional inputs and outputs

A number of large investors have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of Comerica by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock worth $941,968,000 after buying an additional 676,959 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Comerica by 51.3% in the second quarter. Dimensional Fund Advisors LP now owns 4,045,656 shares of the financial services provider’s stock valued at $206,468,000 after acquiring an additional 1,370,886 shares during the period. Goldman Sachs Group Inc. raised its stake in Comerica by 51.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock valued at $143,109,000 after acquiring an additional 870,812 shares during the period. Vaughan Nelson Investment Management LP boosted its stake in Comerica by 1.1% in the second quarter. Vaughan Nelson Investment Management LP now owns 1,834,304 shares of the financial services provider’s stock worth $93,621,000 after acquiring an additional 19,068 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Comerica by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 1,533,857 shares of the financial services provider’s stock valued at $78,288,000 after acquiring an additional 130,458 shares during the period. 80.74% of shares are held by institutional investors and hedge funds.

About Comerica

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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 Banking 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, asset management services currency and credit syndication services. for small and medium enterprises, multinational corporations and government entities.