Comerica (NYSE:CMA)‘s stock had its “buy” rating reissued by equities researchers at Royal Bank of Canada in a research note issued to investors on Wednesday, January 17th. They presently have a $103.00 price target on the financial services provider’s stock. Royal Bank of Canada’s price target indicates a potential upside of 10.40% from the company’s previous close.
Other equities analysts have also issued reports about the stock. Piper Jaffray Companies upgraded shares of Comerica to a “buy” rating and set a $98.00 price objective on the stock in a research report on Friday, December 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price objective on shares of Comerica in a research report on Wednesday, December 13th. DA Davidson restated a “hold” rating and set a $100.00 target price on shares of Comerica in a research report on Wednesday, January 17th. Deutsche Bank boosted their target price on shares of Comerica from $80.00 to $82.00 and gave the stock a “hold” rating in a research report on Wednesday, November 8th. Finally, SunTrust Banks restated a “hold” rating and set a $86.00 target price on shares of Comerica in a research report on Tuesday, January 9th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. Comerica has an average rating of “Hold” and a consensus price target of $92.37.
Shares of Comerica (NYSE CMA) opened at $93.30 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. Comerica has a 1-year low of $64.04 and a 1-year high of $98.18. The firm has a market cap of $16,230.00, a P/E ratio of 22.54, a P/E/G ratio of 1.40 and a beta of 1.47.
Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03. The company had revenue of $830.00 million for the quarter, compared to analysts’ expectations of $819.30 million. Comerica had a net margin of 22.47% and a return on equity of 10.94%. During the same quarter last year, the company earned $0.92 earnings per share. equities analysts forecast that Comerica will post 6.56 EPS for the current year.
In other news, CEO Ralph W. Babb, Jr. sold 61,500 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $94.02, for a total transaction of $5,782,230.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Peter William Guilfoile sold 1,052 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $97.00, for a total value of $102,044.00. The disclosure for this sale can be found here. Insiders have sold a total of 211,015 shares of company stock valued at $20,194,360 in the last quarter. Company insiders own 1.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barometer Capital Management Inc. boosted its holdings in Comerica by 1,076.0% in the 4th quarter. Barometer Capital Management Inc. now owns 65,858 shares of the financial services provider’s stock worth $5,717,000 after acquiring an additional 60,258 shares during the period. Baird Financial Group Inc. boosted its holdings in Comerica by 15.2% in the 4th quarter. Baird Financial Group Inc. now owns 6,022 shares of the financial services provider’s stock worth $523,000 after acquiring an additional 796 shares during the period. American International Group Inc. boosted its holdings in Comerica by 7.0% in the 4th quarter. American International Group Inc. now owns 76,329 shares of the financial services provider’s stock worth $6,626,000 after acquiring an additional 5,026 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in shares of Comerica during the 4th quarter valued at approximately $6,250,000. Finally, WealthTrust Fairport LLC purchased a new position in shares of Comerica during the 4th quarter valued at approximately $1,978,000. Hedge funds and other institutional investors own 82.91% 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.
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