Comerica (NYSE:CMA)‘s stock had its “buy” rating reiterated by stock analysts at B. Riley in a research report issued to clients and investors on Monday. They currently have a $84.00 target price on the financial services provider’s stock. B. Riley’s target price indicates a potential upside of 0.07% from the stock’s previous close.
Other equities analysts have also recently issued research reports about the company. BidaskClub cut Comerica from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Zacks Investment Research raised Comerica from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a report on Thursday, August 17th. Wells Fargo & Company started coverage on Comerica in a report on Wednesday, August 9th. They issued a “market perform” rating and a $73.00 target price for the company. 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. Finally, Instinet reissued a “neutral” rating and issued a $74.00 target price (up from $71.00) on shares of Comerica in a report on Saturday, September 30th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $79.81.
Comerica (NYSE:CMA) opened at $83.94 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $14,570.60, a P/E ratio of 18.91, a price-to-earnings-growth ratio of 1.92 and a beta of 1.51. Comerica has a twelve month low of $64.04 and a twelve month high of $86.78.
In related news, insider Michael T. Ritchie sold 4,596 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Christine M. Moore sold 3,200 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $75.07, for a total value of $240,224.00. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Smithfield Trust Co. boosted its position in 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 buying an additional 2,446 shares during the last quarter. Zeke Capital Advisors LLC bought a new position in Comerica in the 3rd quarter valued at $200,000. IBM Retirement Fund bought a new position in Comerica in the 3rd quarter valued at $200,000. BB&T Corp bought a new position in Comerica in the 3rd quarter valued at $206,000. Finally, Marshall Wace North America L.P. bought a new position in Comerica in the 2nd quarter valued at $208,000. Institutional investors and hedge funds own 82.04% of the company’s stock.
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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