In a report released today, Scott Siefers from Piper Sandler assigned a Hold rating to Comerica (CMA – Research Report), with a price target of $53.00. The company’s shares opened today at $51.55.
According to TipRanks, Siefers is a 4-star analyst with an average return of 8.4% and a 56.57% success rate. Siefers covers the Financial sector, focusing on stocks such as Truist Financial, Regions Financial, and Bank of America.
In addition to Piper Sandler, Comerica also received a Hold from Raymond James’s Michael Rose in a report issued today. However, on the same day, Truist Financial maintained a Buy rating on Comerica (NYSE: CMA).
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Based on Comerica’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $896 million and a net profit of $244 million. In comparison, last year the company earned a revenue of $985 million and had a net profit of $343 million
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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.
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