Comerica (NYSE:CMA) was upgraded by investment analysts at Instinet from a “neutral” rating to a “buy” rating in a note issued to investors on Friday.
A number of other brokerages have also issued reports on CMA. Nomura increased their price target on Comerica from $74.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, October 23rd. Zacks Investment Research lowered Comerica from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. BMO Capital Markets reaffirmed a “hold” rating and set a $91.00 price target on shares of Comerica in a research note on Wednesday, December 20th. Sanford C. Bernstein reaffirmed a “market perform” rating and set a $80.00 price target (up from $78.00) on shares of Comerica in a research note on Saturday, September 16th. Finally, Citigroup reissued a “sell” rating and set a $69.00 price objective (up from $65.00) on shares of Comerica in a research note on Monday, October 9th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. Comerica presently has an average rating of “Hold” and an average price target of $86.00.
Shares of Comerica (NYSE:CMA) traded up $0.96 during midday trading on Friday, reaching $88.47. The company’s stock had a trading volume of 1,296,089 shares, compared to its average volume of 1,231,947. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. The company has a market cap of $15,390.00, a price-to-earnings ratio of 20.06, a P/E/G ratio of 1.77 and a beta of 1.50. Comerica has a 52-week low of $64.04 and a 52-week high of $88.57.
Comerica (NYSE:CMA) last issued its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. The firm had revenue of $821.00 million during the quarter, compared to analyst estimates of $812.83 million. Comerica had a return on equity of 10.35% and a net margin of 24.87%. During the same period last year, the company posted $0.84 EPS. analysts predict that Comerica will post 4.84 EPS for the current year.
In other news, insider Michael T. Ritchie sold 4,596 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $75.08, for a total value of $345,067.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Christine M. Moore sold 3,200 shares of the stock in a transaction on Friday, November 10th. The shares were 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. 1.10% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. West Oak Capital LLC lifted its holdings in shares of Comerica by 1,040.7% in the fourth quarter. West Oak Capital LLC now owns 2,806 shares of the financial services provider’s stock valued at $244,000 after purchasing an additional 2,560 shares in the last quarter. Atlantic Trust Group LLC purchased a new stake in shares of Comerica in the third quarter valued at $4,573,000. Parametric Portfolio Associates LLC lifted its holdings in shares of Comerica by 8.6% in the third quarter. Parametric Portfolio Associates LLC now owns 563,216 shares of the financial services provider’s stock valued at $42,951,000 after purchasing an additional 44,755 shares in the last quarter. Visionary Asset Management Inc. purchased a new stake in shares of Comerica in the third quarter valued at $218,000. Finally, IFM Investors Pty Ltd purchased a new stake in shares of Comerica in the third quarter valued at $383,000. Institutional investors own 81.95% 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.