Comerica (NYSE:CMA) had its price target upped by Wedbush from $91.00 to $97.00 in a research report issued on Wednesday. The brokerage currently has a “neutral” rating on the financial services provider’s stock. Wedbush’s target price points to a potential upside of 3.42% from the stock’s previous close.
CMA has been the topic of several other research reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $101.00 target price on shares of Comerica in a research note on Friday, December 22nd. Zacks Investment Research downgraded Comerica from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Nomura lifted their target price on Comerica from $74.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, October 23rd. Citigroup reissued a “sell” rating and set a $69.00 target price (up previously from $65.00) on shares of Comerica in a research note on Monday, October 9th. Finally, DA Davidson reaffirmed a “hold” rating and issued a $81.00 price objective on shares of Comerica in a research note on Wednesday, October 18th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Comerica has an average rating of “Hold” and a consensus target price of $91.46.
Shares of Comerica (CMA) traded up $0.75 on Wednesday, reaching $93.79. The company had a trading volume of 2,376,500 shares, compared to its average volume of 1,573,270. The company has a market cap of $16,310.00, a P/E ratio of 21.27, a PEG ratio of 1.65 and a beta of 1.50. Comerica has a 52 week low of $64.04 and a 52 week high of $95.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00.
In other news, EVP Christine M. Moore sold 3,200 shares of Comerica stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $75.07, for a total value of $240,224.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael T. Ritchie sold 4,596 shares of Comerica stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $75.08, for a total value of $345,067.68. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.
Several institutional investors have recently made changes to their positions in CMA. BlackRock Inc. boosted its holdings in Comerica by 3,094.6% during the 1st quarter. BlackRock Inc. now owns 11,268,474 shares of the financial services provider’s stock valued at $772,796,000 after acquiring an additional 10,915,741 shares during the period. Norges Bank purchased a new position in Comerica during the 4th quarter valued at $283,880,000. Eton Park Capital Management L.P. purchased a new position in Comerica during the 4th quarter valued at $140,887,000. Janus Henderson Group PLC boosted its holdings in Comerica by 12,425.0% during the 2nd quarter. Janus Henderson Group PLC now owns 2,064,363 shares of the financial services provider’s stock valued at $151,194,000 after acquiring an additional 2,047,881 shares during the period. Finally, Ameriprise Financial Inc. boosted its holdings in Comerica by 1,159.7% during the 1st quarter. Ameriprise Financial Inc. now owns 1,892,008 shares of the financial services provider’s stock valued at $129,759,000 after acquiring an additional 1,741,818 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.
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About Comerica
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.
