Comerica (CMA) Stock Rating Upgraded by Instinet

Comerica (NYSE:CMA) was upgraded by investment analysts at Instinet from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, January 5th.

A number of other research analysts have also commented on CMA. FBR & Co reaffirmed a “buy” rating and issued a $79.00 price objective on shares of Comerica in a report on Friday, September 8th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Comerica in a report on Friday, September 8th. Piper Jaffray Companies raised Comerica from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $76.00 to $80.00 in a report on Tuesday, September 12th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $80.00 price objective (up from $78.00) on shares of Comerica in a report on Saturday, September 16th. Finally, Jefferies Group reaffirmed a “buy” rating and issued a $81.00 price objective on shares of Comerica in a report on Friday, September 15th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $87.07.

Comerica (CMA) traded up $0.52 during mid-day trading on Friday, hitting $93.04. The company had a trading volume of 1,605,788 shares, compared to its average volume of 1,327,927. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market cap of $16,090.62, a price-to-earnings ratio of 21.05, a PEG ratio of 1.67 and a beta of 1.51. Comerica has a 1-year low of $64.04 and a 1-year high of $93.54.

Comerica (NYSE:CMA) last posted its earnings results on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. Comerica had a return on equity of 10.35% and a net margin of 24.87%. The business had revenue of $821.00 million for the quarter, compared to analyst estimates of $812.83 million. During the same period in the previous year, the firm earned $0.84 EPS. research analysts predict that Comerica will post 4.85 EPS for the current fiscal year.

In related news, EVP Christine M. Moore sold 3,200 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $75.07, for a total transaction of $240,224.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael T. Ritchie sold 4,596 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $75.08, for a total value of $345,067.68. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Zeke Capital Advisors LLC bought a new position in Comerica in the third quarter valued at about $200,000. IBM Retirement Fund bought a new position in Comerica in the third quarter valued at about $200,000. BB&T Corp bought a new position in Comerica in the third quarter valued at about $206,000. West Oak Capital LLC raised its position in Comerica by 1,040.7% in the fourth quarter. West Oak Capital LLC now owns 2,806 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 2,560 shares during the last quarter. Finally, Marshall Wace North America L.P. bought a new position in Comerica in the second quarter valued at about $208,000. Hedge funds and other institutional investors own 81.95% of the company’s stock.

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Comerica Company Profile

Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services and loan syndication services.

Analyst Recommendations for Comerica (NYSE:CMA)

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