Comerica (NYSE:CMA)‘s stock had its “buy” rating restated by investment analysts at Royal Bank of Canada in a research note issued on Wednesday, TipRanks reports. They currently have a $70.00 target price on the financial services provider’s stock. Royal Bank of Canada’s target price points to a potential upside of 9.89% from the company’s previous close.
Several other research firms have also recently commented on CMA. Raymond James boosted their target price on Comerica from $71.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday. Compass Point lowered shares of Comerica from a “neutral” rating to a “sell” rating and upped their target price for the stock from $44.00 to $46.00 in a research report on Tuesday, November 10th. B. Riley raised their price target on Comerica from $65.00 to $72.00 and gave the company a “buy” rating in a research report on Wednesday. Robert W. Baird cut Comerica from an “outperform” rating to a “neutral” rating and set a $60.00 price objective for the company. in a report on Wednesday, January 13th. Finally, Morgan Stanley raised their price objective on Comerica from $54.00 to $59.00 and gave the company an “equal weight” rating in a report on Thursday, January 7th. Five analysts have rated the stock with a sell rating, eleven have given a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $47.85.
NYSE:CMA traded down $0.20 on Wednesday, reaching $63.70. 15,194 shares of the company’s stock were exchanged, compared to its average volume of 1,539,672. The stock has a fifty day simple moving average of $56.56 and a 200-day simple moving average of $45.40. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market cap of $8.86 billion, a price-to-earnings ratio of 17.58 and a beta of 1.67. Comerica has a 52 week low of $24.28 and a 52 week high of $67.40.
Comerica (NYSE:CMA) last released its quarterly earnings results on Monday, January 18th. The financial services provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. Comerica had a net margin of 16.17% and a return on equity of 7.12%. During the same quarter last year, the company posted $1.85 earnings per share. As a group, sell-side analysts predict that Comerica will post 2.98 EPS for the current year.
In other news, EVP Jay K. Oberg sold 1,500 shares of Comerica stock in a transaction dated Tuesday, November 24th. The shares were sold at an average price of $53.69, for a total transaction of $80,535.00. Company insiders own 0.55% of the company’s stock.
Large investors have recently made changes to their positions in the company. Prudential PLC purchased a new position in shares of Comerica in the 3rd quarter valued at approximately $83,886,000. State Street Corp lifted its position in Comerica by 13.6% during the third quarter. State Street Corp now owns 8,402,362 shares of the financial services provider’s stock valued at $326,868,000 after buying an additional 1,006,820 shares during the period. Neuberger Berman Group LLC lifted its position in Comerica by 37.3% during the third quarter. Neuberger Berman Group LLC now owns 1,898,703 shares of the financial services provider’s stock valued at $72,570,000 after buying an additional 515,484 shares during the period. FMR LLC boosted its holdings in shares of Comerica by 6.4% during the 2nd quarter. FMR LLC now owns 3,535,832 shares of the financial services provider’s stock valued at $134,716,000 after buying an additional 212,918 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Comerica by 396.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 205,690 shares of the financial services provider’s stock worth $7,868,000 after buying an additional 164,221 shares during the period. 78.17% of the stock is owned by hedge funds and other institutional investors.
Comerica Company Profile
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers 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 for small and middle market businesses, multinational corporations, and governmental entities.
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