In a report released today, Scott Siefers from Piper Sandler maintained a Hold rating on Comerica (CMA – Research Report), with a price target of $54.00. The company’s shares closed yesterday at $50.66.
Siefers covers the Financial sector, focusing on stocks such as Huntington Bancshares, Citigroup, and Comerica. According to TipRanks, Siefers has an average return of 8.1% and a 54.55% success rate on recommended stocks.
Comerica has an analyst consensus of Hold, with a price target consensus of $58.67, a 15.81% upside from current levels. In a report released today, UBS also maintained a Hold rating on the stock with a $55.00 price target.
Based on Comerica’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $782 million and a net profit of $27 million. In comparison, last year the company earned a revenue of $1.16 billion and had a net profit of $342 million
Based on the recent corporate insider activity of 116 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CMA in relation to earlier this year. Most recently, in February 2024, Wendy Bridges, the EVP of CMA sold 3,034.00 shares for a total of $160,008.37.
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Comerica (CMA) Company Description:
Comerica, Inc. engages in the provision of financial services. It operates through the following segments: Business Bank, Retail Bank, Wealth Management, Finance, and Other. The Business Bank segment involves in the middle market businesses, multinational corporations, and governmental entities by offering various products and services such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication. The Retail Bank segment includes small business banking and personal financial services, which consist of consumer lending, consumer deposit gathering, and mortgage loan origination. The Wealth Management segment offers fiduciary services, private banking, retirement services, investment management and advisory services, investment banking and brokerage services. The Finance segment comprises corporation’s securities portfolio and asset and liability management activities. The Other category consists of income and expense impact of equity and cash, tax benefits, charges of an unusual or infrequent nature that are not reflective of the normal operations, and miscellaneous other expenses of a corporate nature. The company was founded in 1973 and is headquartered in Dallas, TX.
