Comerica (NYSE:CMA)‘s stock had its “buy” rating reissued by equities researchers at B. Riley in a report released on Monday, December 4th. They presently have a $84.00 price target on the financial services provider’s stock. B. Riley’s target price points to a potential downside of 3.24% from the stock’s previous close.
A number of other research analysts also recently issued reports on the stock. Nomura raised their price target on shares of 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 issued a $79.00 price target (up from $76.00) on shares of Comerica in a research report on Wednesday, October 4th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $76.00 price objective on shares of Comerica in a report on Friday, September 1st. Royal Bank of Canada reaffirmed a “buy” rating and issued a $82.00 price objective on shares of Comerica in a report on Friday, September 8th. Finally, Zacks Investment Research cut shares of Comerica from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $84.24.
Comerica (NYSE:CMA) traded down $0.48 during trading hours on Monday, hitting $86.81. 780,716 shares of the stock were exchanged, compared to its average volume of 1,555,366. 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 firm has a market capitalization of $15,181.04, a price-to-earnings ratio of 19.70, a PEG ratio of 2.00 and a beta of 1.51. Comerica has a twelve month low of $64.04 and a twelve month high of $88.22.
In other Comerica news, insider Michael T. Ritchie sold 4,596 shares of Comerica stock in a transaction on Friday, November 10th. The shares were sold at an average price of $75.08, for a total transaction of $345,067.68. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Christine M. Moore sold 3,200 shares of the business’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $75.07, for a total transaction of $240,224.00. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
A number of large investors have recently made changes to their positions in CMA. Smithfield Trust Co. increased its stake in shares of Comerica by 2,446.0% in the 2nd quarter. Smithfield Trust Co. now owns 2,546 shares of the financial services provider’s stock valued at $186,000 after acquiring an additional 2,446 shares during the last quarter. IBM Retirement Fund acquired a new position in shares of Comerica in the 3rd quarter valued at approximately $200,000. Zeke Capital Advisors LLC acquired a new position in Comerica during the 3rd quarter worth approximately $200,000. BB&T Corp acquired a new position in Comerica during the 3rd quarter worth approximately $206,000. Finally, Marshall Wace North America L.P. acquired a new position in Comerica during the 2nd quarter worth approximately $208,000. 81.95% of the stock is owned by hedge funds and other institutional investors.
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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.
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