Comerica (NYSE:CMA) has been given a $88.00 price objective by stock analysts at Wells Fargo & Company in a report released on Wednesday. The brokerage currently has a “hold” rating on the financial services provider’s stock. Wells Fargo & Company’s target price indicates a potential upside of 1.66% from the stock’s current price.
Several other research firms also recently issued reports on CMA. Nomura lifted their price target on Comerica from $74.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, October 23rd. Zacks Investment Research downgraded shares of Comerica from a “buy” rating to a “hold” rating in a research note on Tuesday. BMO Capital Markets reissued a “hold” rating and issued a $91.00 target price on shares of Comerica in a research note on Wednesday. Piper Jaffray Companies reissued a “hold” rating and issued a $76.00 target price on shares of Comerica in a research note on Friday, September 1st. Finally, Sanford C. Bernstein reissued a “market perform” rating and issued a $80.00 target price (up previously from $78.00) on shares of Comerica in a research note on Saturday, September 16th. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $83.19.
Comerica (NYSE:CMA) traded up $0.02 during trading hours on Wednesday, hitting $86.56. The stock had a trading volume of 1,215,674 shares, compared to its average volume of 1,705,880. The firm has a market cap of $15,050.00, a P/E ratio of 19.47, a PEG ratio of 1.98 and a beta of 1.50. 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 fifty-two week low of $64.04 and a fifty-two week high of $87.63.
In other news, insider Michael T. Ritchie sold 4,596 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $75.08, for a total transaction of $345,067.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christine M. Moore sold 3,200 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $75.07, for a total value of $240,224.00. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Several large investors have recently modified their holdings of the company. Veritable L.P. grew its holdings in shares of Comerica by 0.3% during the 2nd quarter. Veritable L.P. now owns 10,844 shares of the financial services provider’s stock worth $794,000 after purchasing an additional 32 shares during the period. Cadence Capital Management LLC grew its holdings in shares of Comerica by 0.8% during the 2nd quarter. Cadence Capital Management LLC now owns 7,039 shares of the financial services provider’s stock worth $516,000 after purchasing an additional 58 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in shares of Comerica by 0.8% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,145 shares of the financial services provider’s stock worth $963,000 after purchasing an additional 100 shares during the period. Sentry Investment Management LLC grew its holdings in shares of Comerica by 1.2% during the 2nd quarter. Sentry Investment Management LLC now owns 11,711 shares of the financial services provider’s stock worth $858,000 after purchasing an additional 142 shares during the period. Finally, AXA boosted its holdings in Comerica by 1.0% in the 2nd quarter. AXA now owns 20,600 shares of the financial services provider’s stock worth $1,509,000 after acquiring an additional 200 shares during the period. Institutional investors and hedge funds own 81.95% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “Comerica (CMA) PT Set at $88.00 by Wells Fargo & Company” was published by American Market News and is the property of of American Market News. If you are viewing this piece of content on another domain, it was illegally copied and reposted in violation of U.S. & international trademark & copyright law. The original version of this piece of content can be accessed at https://www.americanbankingnews.com/2017/12/20/comerica-cma-pt-set-at-88-00-by-wells-fargo-company.html.
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.
