Comerica (NYSE:CMA) had its target price hoisted by equities researchers at SunTrust Banks to $98.00 in a research note issued to investors on Wednesday. The firm presently has a “hold” rating on the financial services provider’s stock. SunTrust Banks’ price objective points to a potential upside of 3.17% from the stock’s previous close. SunTrust Banks also issued estimates for Comerica’s Q1 2018 earnings at $1.56 EPS, Q2 2018 earnings at $1.62 EPS, Q3 2018 earnings at $1.67 EPS, Q4 2018 earnings at $1.65 EPS, FY2018 earnings at $6.49 EPS, Q1 2019 earnings at $1.63 EPS, Q2 2019 earnings at $1.69 EPS, Q3 2019 earnings at $1.76 EPS, Q4 2019 earnings at $1.77 EPS and FY2019 earnings at $6.85 EPS.
CMA has been the subject of several other reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $101.00 price objective on shares of Comerica in a research report on Friday, December 22nd. Zacks Investment Research cut Comerica from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Nomura upped their price objective on Comerica from $74.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. DA Davidson reaffirmed a “hold” rating and set a $81.00 price objective on shares of Comerica in a research report on Wednesday, October 18th. Finally, Citigroup reaffirmed a “sell” rating and set a $69.00 price objective (up from $65.00) on shares of Comerica in a research report on Monday, October 9th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $92.37.
Comerica (NYSE:CMA) traded up $1.18 during trading hours on Wednesday, hitting $94.99. The stock had a trading volume of 2,504,836 shares, compared to its average volume of 1,645,377. The firm has a market cap of $16,520.00, a PE ratio of 22.94, a P/E/G ratio of 1.68 and a beta of 1.50. Comerica has a twelve month low of $64.04 and a twelve month high of $95.60. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58.
Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.03. The business had revenue of $830.00 million during the quarter, compared to analysts’ expectations of $819.30 million. Comerica had a return on equity of 10.94% and a net margin of 22.47%. During the same period in the prior year, the firm posted $0.92 EPS. research analysts forecast that Comerica will post 6.27 EPS for the current fiscal year.
In other Comerica news, EVP Christine M. Moore sold 3,200 shares of the company’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $75.07, for a total transaction of $240,224.00. The transaction 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 that occurred on Friday, November 10th. The shares were 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. 1.10% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. IBM Retirement Fund purchased a new stake in Comerica during the 3rd quarter valued at approximately $200,000. Zeke Capital Advisors LLC purchased a new stake in Comerica during the 3rd quarter valued at approximately $200,000. BB&T Corp purchased a new stake in Comerica during the 3rd quarter valued at approximately $206,000. Visionary Asset Management Inc. purchased a new stake in Comerica during the 3rd quarter valued at approximately $218,000. Finally, West Oak Capital LLC raised its stake in Comerica by 1,040.7% during the 4th quarter. West Oak Capital LLC now owns 2,806 shares of the financial services provider’s stock valued at $244,000 after acquiring an additional 2,560 shares during the last quarter. 81.95% of the stock is owned by hedge funds and other 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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