Comerica (NYSE:CMA) was upgraded by investment analysts at Nomura from a “neutral” rating to a “buy” rating in a report released on Friday, MarketBeat reports. The brokerage currently has a $106.00 price objective on the financial services provider’s stock, up from their prior price objective of $86.00. Nomura’s price objective would suggest a potential upside of 19.81% from the company’s current price.
Several other equities analysts have also recently issued reports on CMA. Instinet upgraded shares of Comerica from a “neutral” rating to a “buy” rating in a research note on Friday. Barclays increased their price objective on shares of Comerica from $76.00 to $93.00 and gave the stock an “underweight” rating in a research note on Tuesday. DA Davidson reiterated a “hold” rating and issued a $81.00 price objective on shares of Comerica in a research note on Wednesday, October 18th. BMO Capital Markets reiterated a “hold” rating and issued a $91.00 price objective on shares of Comerica in a research note on Wednesday, December 20th. Finally, Citigroup reiterated a “sell” rating and issued a $69.00 price objective (up previously from $65.00) on shares of Comerica in a research note on Monday, October 9th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $86.00.
Comerica (NYSE CMA) traded up $0.96 on Friday, reaching $88.47. 1,296,089 shares of the company’s stock traded hands, compared to its average volume of 1,231,947. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. The company has a market cap of $15,390.00, a PE ratio of 20.06, a P/E/G ratio of 1.77 and a beta of 1.50. Comerica has a 1-year low of $64.04 and a 1-year high of $88.57.
Comerica (NYSE:CMA) last posted its earnings results on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.03. The business had revenue of $821.00 million for the quarter, compared to analysts’ expectations of $812.83 million. Comerica had a net margin of 24.87% and a return on equity of 10.35%. During the same quarter in the prior year, the business earned $0.84 EPS. research analysts forecast that Comerica will post 4.84 earnings per share for the current fiscal year.
In other Comerica news, insider Michael T. Ritchie sold 4,596 shares of the firm’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 transaction of $345,067.68. The transaction 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 the firm’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 disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Zeke Capital Advisors LLC purchased a new stake in Comerica during the 3rd quarter valued at approximately $200,000. IBM Retirement Fund 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. West Oak Capital LLC grew its holdings 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 buying an additional 2,560 shares in the last quarter. Finally, Marshall Wace North America L.P. purchased a new stake in Comerica during the 2nd quarter valued at approximately $208,000. 81.95% of the stock is owned by institutional investors and hedge funds.
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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.