Comerica (NYSE:CMA) has been assigned a $99.00 price objective by equities researchers at Sanford C. Bernstein in a note issued to investors on Wednesday. The firm presently has a “hold” rating on the financial services provider’s stock. Sanford C. Bernstein’s price objective points to a potential upside of 5.55% from the stock’s previous close.
Several other analysts also recently commented on the stock. Vining Sparks restated a “buy” rating and set a $97.50 price objective on shares of Comerica in a research report on Tuesday. Robert W. Baird restated a “hold” rating and set a $95.00 price objective on shares of Comerica in a research report on Wednesday. DA Davidson raised their price objective on shares of Comerica to $100.00 and gave the company a “neutral” rating in a research report on Wednesday. Zacks Investment Research upgraded shares of Comerica from a “hold” rating to a “strong-buy” rating and set a $104.00 price objective on the stock in a research report on Wednesday, January 10th. Finally, SunTrust Banks restated a “hold” rating and set a $86.00 price objective on shares of Comerica in a research report on Tuesday, January 9th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. Comerica presently has an average rating of “Hold” and a consensus price target of $89.75.
Comerica (CMA) opened at $93.79 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00. Comerica has a 52-week low of $64.04 and a 52-week high of $95.49. The firm has a market cap of $16,310.00, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 1.65 and a beta of 1.50.
Comerica (NYSE:CMA) last released its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.03. Comerica had a net margin of 24.87% and a return on equity of 10.35%. The business had revenue of $830.00 million for the quarter, compared to the consensus estimate of $819.30 million. During the same period last year, the firm earned $0.92 earnings per share. sell-side analysts predict that Comerica will post 4.85 EPS for the current fiscal year.
In related news, insider Michael T. Ritchie sold 4,596 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $75.08, for a total transaction of $345,067.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Christine M. Moore sold 3,200 shares of the firm’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $75.07, for a total transaction of $240,224.00. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of CMA. AXA grew its stake in Comerica by 1.0% during the second quarter. AXA now owns 20,600 shares of the financial services provider’s stock valued at $1,509,000 after acquiring an additional 200 shares in the last quarter. Norinchukin Bank The grew its stake in Comerica by 13.1% during the second quarter. Norinchukin Bank The now owns 6,987 shares of the financial services provider’s stock valued at $512,000 after acquiring an additional 807 shares in the last quarter. BlackRock Inc. grew its stake in Comerica by 0.5% during the second quarter. BlackRock Inc. now owns 11,319,900 shares of the financial services provider’s stock valued at $829,069,000 after acquiring an additional 51,426 shares in the last quarter. Amalgamated Bank grew its stake in shares of Comerica by 62.6% in the 2nd quarter. Amalgamated Bank now owns 19,854 shares of the financial services provider’s stock worth $1,454,000 after buying an additional 7,643 shares in the last quarter. Finally, BlueMountain Capital Management LLC grew its stake in shares of Comerica by 423.8% in the 2nd quarter. BlueMountain Capital Management LLC now owns 6,590 shares of the financial services provider’s stock worth $483,000 after buying an additional 5,332 shares in the last quarter. 81.95% of the stock is owned by institutional investors.
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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.
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