Comerica (NYSE:CMA) has been assigned a $99.00 price target by research analysts at Sanford C. Bernstein in a research report issued on Wednesday. The brokerage currently has a “hold” rating on the financial services provider’s stock. Sanford C. Bernstein’s price target indicates a potential upside of 5.55% from the stock’s current price.
Other analysts have also recently issued reports about the stock. Keefe, Bruyette & Woods restated a “buy” rating and issued a $79.00 price target on shares of Comerica in a report on Friday, September 22nd. FBR & Co restated a “buy” rating and issued a $84.00 price target (up from $79.00) on shares of Comerica in a report on Tuesday, October 17th. Piper Jaffray Companies restated a “buy” rating on shares of Comerica in a report on Tuesday, October 17th. B. Riley restated a “buy” rating and issued a $84.00 price target on shares of Comerica in a report on Monday, December 4th. Finally, Zacks Investment Research upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a report on Monday, December 11th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $89.75.
Comerica (NYSE:CMA) opened at $93.79 on Wednesday. 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 $16,310.00, a PE ratio of 21.27, a price-to-earnings-growth ratio of 1.65 and a beta of 1.50. Comerica has a 12-month low of $64.04 and a 12-month high of $95.49.
In related news, EVP Christine M. Moore sold 3,200 shares of Comerica stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $75.07, for a total value of $240,224.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction of $345,067.68. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Zeke Capital Advisors LLC purchased a new position in Comerica during the 3rd quarter worth approximately $200,000. IBM Retirement Fund purchased a new position in Comerica during the 3rd quarter worth approximately $200,000. BB&T Corp purchased a new position in Comerica during the 3rd quarter worth approximately $206,000. West Oak Capital LLC raised its position 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 worth $244,000 after buying an additional 2,560 shares during the last quarter. Finally, Visionary Asset Management Inc. purchased a new position in Comerica during the 3rd quarter worth approximately $218,000. Institutional investors own 81.95% of the company’s stock.
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.