Comerica (CMA) Lifted to “Outperform” at BMO Capital Markets

Comerica (NYSE:CMA) was upgraded by BMO Capital Markets from a “market perform” rating to an “outperform” rating in a note issued to investors on Friday, MarketBeat Ratings reports. The brokerage presently has a $111.00 price objective on the financial services provider’s stock. BMO Capital Markets’ target price would indicate a potential upside of 21.17% from the stock’s current price.

CMA has been the subject of a number of other reports. Piper Jaffray Companies upgraded shares of Comerica to a “buy” rating and set a $98.00 target price for the company in a research note on Friday, December 8th. Morgan Stanley reiterated an “equal weight” rating and set a $90.00 target price on shares of Comerica in a research note on Wednesday, December 13th. DA Davidson reiterated a “hold” rating and set a $100.00 target price on shares of Comerica in a research note on Wednesday, January 17th. Deutsche Bank boosted their target price on shares of Comerica from $80.00 to $82.00 and gave the company a “hold” rating in a research note on Wednesday, November 8th. Finally, SunTrust Banks restated a “hold” rating and issued a $86.00 price objective on shares of Comerica in a research note on Tuesday, January 9th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and an average target price of $92.37.

Shares of Comerica (CMA) traded up $2.43 during midday trading on Friday, reaching $91.61. 1,709,087 shares of the company were exchanged, compared to its average volume of 1,552,027. Comerica has a 52 week low of $64.04 and a 52 week high of $98.18. The stock has a market cap of $15,428.14, a price-to-earnings ratio of 22.18, a P/E/G ratio of 1.36 and a beta of 1.47. 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 (NYSE:CMA) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03. Comerica had a net margin of 22.47% and a return on equity of 10.94%. The company had revenue of $830.00 million during the quarter, compared to analyst estimates of $819.30 million. During the same period in the previous year, the business earned $0.92 EPS. equities research analysts predict that Comerica will post 6.56 earnings per share for the current year.

In related news, EVP David E. Duprey sold 11,293 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $95.30, for a total value of $1,076,222.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ralph W. Babb, Jr. sold 61,500 shares of the company’s stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $94.02, for a total transaction of $5,782,230.00. The disclosure for this sale can be found here. Insiders sold a total of 211,015 shares of company stock valued at $20,194,360 in the last ninety days. 1.10% of the stock is currently owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Sentry Investment Management LLC boosted its holdings in shares of Comerica by 1.2% during the 2nd quarter. Sentry Investment Management LLC now owns 11,711 shares of the financial services provider’s stock valued at $858,000 after purchasing an additional 142 shares during the last quarter. Signature Estate & Investment Advisors LLC boosted its holdings in shares of Comerica by 6.8% during the 4th quarter. Signature Estate & Investment Advisors LLC now owns 9,605 shares of the financial services provider’s stock valued at $834,000 after purchasing an additional 613 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Comerica by 3.0% during the 4th quarter. US Bancorp DE now owns 22,150 shares of the financial services provider’s stock valued at $1,922,000 after purchasing an additional 641 shares during the last quarter. Baird Financial Group Inc. boosted its holdings in shares of Comerica by 15.2% during the 4th quarter. Baird Financial Group Inc. now owns 6,022 shares of the financial services provider’s stock valued at $523,000 after purchasing an additional 796 shares during the last quarter. Finally, Wetherby Asset Management Inc. boosted its holdings in shares of Comerica by 16.3% during the 4th quarter. Wetherby Asset Management Inc. now owns 5,928 shares of the financial services provider’s stock valued at $514,000 after purchasing an additional 831 shares during the last quarter. 82.30% of the stock is owned by institutional investors.

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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.

Analyst Recommendations for Comerica (NYSE:CMA)

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