JP Morgan slashes price target on Comerica Incorporated [CMA] – find out why.

Comerica Incorporated [NYSE: CMA] gained 12.33% on the last trading session, reaching $38.09 price per share at the time. The company report on May 11, 2023 at 1:15 PM that Comerica Bank Appoints Kevin Watkins National African American Business Development Manager.

Comerica Bank has appointed Kevin Watkins as its National African American Business Development Manager, supporting Comerica’s steadfast commitment to develop and grow relationships with African American business leaders, entrepreneurs, and communities across all markets. These responsibilities are an extension of Watkins’ current role as Vice President, Southeast Michigan External Affairs Market Manager.

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As National African American Business Development Manager, Watkins will collaborate with Comerica’s African American Business Resource Groups and Chief Diversity Officer Nate Bennett on building external partnerships with African American nonprofit organizations across the bank’s national footprint.

Comerica Incorporated represents 131.00 million in outstanding shares, while the company has a total market value of $5.13 billion with the latest information. CMA stock price has been found in the range of $35.05 to $38.28.

If compared to the average trading volume of 4.94M shares, CMA reached a trading volume of 5879224 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Comerica Incorporated [CMA]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CMA shares is $58.10 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CMA stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

JP Morgan have made an estimate for Comerica Incorporated shares, keeping their opinion on the stock as Overweight, with their previous recommendation back on May 05, 2023. The new note on the price target was released on May 03, 2023, representing the official price target for Comerica Incorporated stock. Previously, the target price had yet another drop from $84 to $57, while Raymond James kept a Strong Buy rating on CMA stock. On April 06, 2023, analysts decreased their price target for CMA shares from 75 to 44.

The Average True Range (ATR) for Comerica Incorporated is set at 3.19, with the Price to Sales ratio for CMA stock in the period of the last 12 months amounting to 1.63. The Price to Book ratio for the last quarter was 0.89, with the Price to Cash per share for the same quarter was set at 82.41. Price to Free Cash Flow for CMA in the course of the last twelve months was 3.74.

Trading performance analysis for CMA stock

Comerica Incorporated [CMA] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 8.70. With this latest performance, CMA shares dropped by -14.67% in over the last four-week period, additionally sinking by -47.34% over the last 6 months – not to mention a drop of -49.46% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CMA stock in for the last two-week period is set at 48.06, with the RSI for the last a single of trading hit 53.68, and the three-weeks RSI is set at 44.81 for Comerica Incorporated [CMA]. The present Moving Average for the last 50 days of trading for this stock 42.46, while it was recorded at 34.19 for the last single week of trading, and 65.31 for the last 200 days.

Comerica Incorporated [CMA]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Comerica Incorporated [CMA] shares currently have an operating margin of +41.12. Comerica Incorporated’s Net Margin is presently recorded at +31.53.

Return on Total Capital for CMA is now 13.06, given the latest momentum, and Return on Invested Capital for the company is 11.72. Return on Equity for this stock inclined to 17.51, with Return on Assets sitting at 1.27. When it comes to the capital structure of this company, Comerica Incorporated [CMA] has a Total Debt to Total Equity ratio set at 128.18. Additionally, CMA Total Debt to Total Capital is recorded at 56.17, with Total Debt to Total Assets ending up at 7.78. Long-Term Debt to Equity for the company is recorded at 70.34, with the Long-Term Debt to Total Capital now at 28.48.

Reflecting on the efficiency of the workforce at the company, Comerica Incorporated [CMA] managed to generate an average of $149,693 per employee.

Comerica Incorporated [CMA]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CMA. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Comerica Incorporated go to -10.70%.

An analysis of insider ownership at Comerica Incorporated [CMA]

There are presently around $4,229 million, or 84.90% of CMA stock, in the hands of institutional investors. The top three institutional holders of CMA stocks are: VANGUARD GROUP INC with ownership of 17,161,267, which is approximately 0.585% of the company’s market cap and around 0.40% of the total institutional ownership; BLACKROCK INC., holding 13,313,998 shares of the stock with an approximate value of $507.13 million in CMA stocks shares; and STATE STREET CORP, currently with $245.38 million in CMA stock with ownership of nearly -17.634% of the company’s market capitalization.

Positions in Comerica Incorporated stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 286 institutional holders increased their position in Comerica Incorporated [NYSE:CMA] by around 23,375,762 shares. Additionally, 299 investors decreased positions by around 23,719,665 shares, while 77 investors held positions by with 63,942,197 shares. The mentioned changes placed institutional holdings at 111,037,624 shares, according to the latest SEC report filing. CMA stock had 78 new institutional investments in for a total of 5,631,983 shares, while 130 institutional investors sold positions of 3,676,959 shares during the same period.

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