Comerica (CMA) Given Buy Rating at B. Riley
Comerica (NYSE:CMA)‘s stock had its “buy” rating reissued by research analysts at B. Riley in a research report issued on Monday. They currently have a $84.00 price objective on the financial services provider’s stock. B. Riley’s price objective indicates a potential downside of 1.30% from the company’s previous close.
Other research analysts also recently issued reports about the stock. Jefferies Group reissued a “buy” rating and issued a $81.00 price target on shares of Comerica in a report on Friday, September 15th. Zacks Investment Research upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a research report on Thursday, August 17th. Royal Bank Of Canada restated a “buy” rating and set a $82.00 price objective on shares of Comerica in a research report on Friday, September 8th. FBR & Co restated a “buy” rating and set a $79.00 price objective on shares of Comerica in a research report on Friday, September 8th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $79.00 price objective on shares of Comerica in a research report on Friday, September 22nd. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $79.81.
Shares of Comerica (NYSE CMA) traded up $1.33 during trading hours on Monday, reaching $85.11. 3,165,900 shares of the company’s stock traded hands, compared to its average volume of 1,706,038. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.00. Comerica has a 1 year low of $64.04 and a 1 year high of $86.78. The company has a market cap of $14,570.60, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 1.92 and a beta of 1.51.
In related news, insider Michael T. Ritchie sold 4,596 shares of Comerica stock in a transaction on Friday, November 10th. The shares were sold at an average price of $75.08, for a total value of $345,067.68. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Christine M. Moore sold 3,200 shares of Comerica 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 disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Visionary Asset Management Inc. bought a new stake in Comerica in the 3rd quarter worth $218,000. IFM Investors Pty Ltd bought a new stake in Comerica in the 3rd quarter worth $383,000. Neuberger Berman Group LLC grew its holdings in Comerica by 9.9% in the 3rd quarter. Neuberger Berman Group LLC now owns 1,642,665 shares of the financial services provider’s stock worth $125,270,000 after acquiring an additional 147,497 shares during the last quarter. California Public Employees Retirement System grew its holdings in Comerica by 4.4% in the 3rd quarter. California Public Employees Retirement System now owns 512,913 shares of the financial services provider’s stock worth $39,115,000 after acquiring an additional 21,749 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in Comerica in the 3rd quarter worth $702,000. Institutional investors own 82.04% of the company’s stock.
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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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