Comerica (NYSE:CMA) had its price target lifted by SunTrust Banks to $98.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The brokerage currently has a “hold” rating on the financial services provider’s stock. SunTrust Banks’ price objective suggests a potential upside of 3.69% from the stock’s current price.
Other equities research analysts have also recently issued research reports about the company. FBR & Co reiterated a “buy” rating and issued a $84.00 price objective (up previously from $79.00) on shares of Comerica in a research note on Tuesday, October 17th. Piper Jaffray Companies reiterated a “buy” rating on shares of Comerica in a research note on Tuesday, October 17th. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $79.00 target price on shares of Comerica in a report on Friday, September 22nd. B. Riley reissued a “buy” rating and issued a $84.00 target price on shares of Comerica in a report on Monday, December 4th. Finally, Zacks Investment Research raised Comerica from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Monday, December 11th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $91.20.
Shares of Comerica (CMA) traded up $0.72 during midday trading on Wednesday, reaching $94.51. The company’s stock had a trading volume of 539,718 shares, compared to its average volume of 1,573,270. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.00. Comerica has a one year low of $64.04 and a one year high of $95.49. The stock has a market capitalization of $16,310.00, a PE ratio of 21.43, a P/E/G ratio of 1.65 and a beta of 1.50.
In related news, EVP Christine M. Moore sold 3,200 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $75.07, for a total transaction of $240,224.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael T. Ritchie sold 4,596 shares of the company’s 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 disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CMA. Janus Henderson Group PLC grew its holdings in Comerica by 12,425.0% in the second quarter. Janus Henderson Group PLC now owns 2,064,363 shares of the financial services provider’s stock valued at $151,194,000 after purchasing an additional 2,047,881 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in Comerica by 33.4% in the third quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock valued at $507,632,000 after purchasing an additional 1,681,640 shares during the last quarter. Vanguard Group Inc. grew its holdings in Comerica by 6.7% in the second quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock valued at $1,330,147,000 after purchasing an additional 1,142,275 shares during the last quarter. State Street Corp grew its holdings in Comerica by 11.3% in the second quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock valued at $731,672,000 after purchasing an additional 1,010,965 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in Comerica by 132.7% in the second quarter. Voya Investment Management LLC now owns 1,692,458 shares of the financial services provider’s stock valued at $123,956,000 after purchasing an additional 965,041 shares during the last quarter. 81.95% of the stock is currently owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION NOTICE: “SunTrust Banks Increases Comerica (CMA) Price Target to $98.00” was posted by American Market News and is the sole property of of American Market News. If you are accessing this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright and trademark legislation. The legal version of this story can be read at https://www.americanbankingnews.com/2018/01/17/suntrust-banks-increases-comerica-cma-price-target-to-98-00.html.
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.
