Comerica (NYSE:CMA) had its target price raised by investment analysts at BMO Capital Markets from $6.90 to $111.00 in a research note issued on Wednesday, The Fly reports. The firm presently has a “market perform” rating on the financial services provider’s stock. BMO Capital Markets’ price objective would suggest a potential upside of 18.35% from the stock’s current price.
Several other analysts also recently weighed in on CMA. Nomura upped their price objective on Comerica from $74.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. Morgan Stanley restated an “equal weight” rating and set a $79.00 price objective (up from $76.00) on shares of Comerica in a research report on Wednesday, October 4th. Zacks Investment Research upgraded Comerica from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a research report on Monday, December 11th. Keefe, Bruyette & Woods restated a “buy” rating and set a $101.00 price objective on shares of Comerica in a research report on Friday, December 22nd. Finally, Macquarie upgraded Comerica from a “neutral” rating to an “outperform” rating and set a $90.00 price objective for the company in a research report on Friday, November 17th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $90.66.
Shares of Comerica (NYSE CMA) opened at $93.79 on Wednesday. The firm has a market capitalization of $16,310.00, a price-to-earnings ratio of 21.27, a PEG ratio of 1.65 and a beta of 1.50. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. Comerica has a 1 year low of $64.04 and a 1 year high of $95.49.
In other Comerica news, EVP Christine M. Moore sold 3,200 shares of the company’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Michael T. Ritchie sold 4,596 shares of the company’s stock in a transaction dated 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 owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of CMA. AXA increased 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 purchasing an additional 200 shares in the last quarter. Norinchukin Bank The increased its stake in shares of Comerica by 13.1% in the second quarter. Norinchukin Bank The now owns 6,987 shares of the financial services provider’s stock valued at $512,000 after buying an additional 807 shares during the period. BlackRock Inc. increased its stake in shares of Comerica by 0.5% in the second quarter. BlackRock Inc. now owns 11,319,900 shares of the financial services provider’s stock valued at $829,069,000 after buying an additional 51,426 shares during the period. Amalgamated Bank increased its stake in shares of Comerica by 62.6% in the second quarter. Amalgamated Bank now owns 19,854 shares of the financial services provider’s stock valued at $1,454,000 after buying an additional 7,643 shares during the period. Finally, BlueMountain Capital Management LLC increased its stake in shares of Comerica by 423.8% in the second quarter. BlueMountain Capital Management LLC now owns 6,590 shares of the financial services provider’s stock valued at $483,000 after buying an additional 5,332 shares during the period. 81.95% of the stock is owned by institutional investors and hedge funds.
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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.
