Barclays Boosts Comerica (CMA) Price Target to $93.00

Comerica (NYSE:CMA) had its price target hoisted by Barclays from $76.00 to $93.00 in a research report sent to investors on Tuesday morning, MarketBeat.com reports. The firm currently has an underweight rating on the financial services provider’s stock.

Other analysts have also issued research reports about the company. Keefe, Bruyette & Woods restated a buy rating and issued a $79.00 target price on shares of Comerica in a report on Friday, September 22nd. Piper Jaffray Companies restated a buy rating on shares of Comerica in a report on Tuesday, October 17th. Royal Bank of Canada restated a buy rating and issued a $82.00 target price on shares of Comerica in a report on Friday, September 8th. FBR & Co restated a buy rating and issued a $79.00 target price on shares of Comerica in a report on Friday, September 8th. Finally, Jefferies Group restated a buy rating and issued a $81.00 target price on shares of Comerica in a report on Friday, September 15th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $86.00.

Comerica (NYSE:CMA) traded up $0.97 on Tuesday, hitting $87.51. The stock had a trading volume of 1,349,900 shares, compared to its average volume of 1,210,567. The stock has a market capitalization of $15,300.00, a price-to-earnings ratio of 19.84, a P/E/G ratio of 1.77 and a beta of 1.50. Comerica has a one year low of $64.04 and a one year high of $88.49. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00.

Comerica (NYSE:CMA) last released its earnings results on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.03. The company had revenue of $821.00 million during the quarter, compared to analyst estimates of $812.83 million. Comerica had a return on equity of 10.35% and a net margin of 24.87%. During the same quarter in the prior year, the company earned $0.84 earnings per share. equities analysts expect that Comerica will post 4.84 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Friday, December 15th were issued a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.37%. Comerica’s dividend payout ratio is 27.21%.

In other Comerica news, insider Michael T. Ritchie sold 4,596 shares of the 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 available through this hyperlink. Also, EVP Christine M. Moore sold 3,200 shares of the 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 disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.

Institutional investors have recently bought and sold shares of the business. Toronto Dominion Bank increased its position in Comerica by 11.4% during the third quarter. Toronto Dominion Bank now owns 66,770 shares of the financial services provider’s stock worth $5,092,000 after buying an additional 6,843 shares during the last quarter. APG Asset Management N.V. grew its position in shares of Comerica by 23.4% in the third quarter. APG Asset Management N.V. now owns 93,210 shares of the financial services provider’s stock valued at $7,108,000 after purchasing an additional 17,700 shares during the last quarter. BlackRock Inc. grew its position in shares of Comerica by 0.5% in the second quarter. BlackRock Inc. now owns 11,319,900 shares of the financial services provider’s stock valued at $829,069,000 after purchasing an additional 51,426 shares during the last quarter. Chicago Equity Partners LLC grew its position in shares of Comerica by 25.0% in the second quarter. Chicago Equity Partners LLC now owns 36,540 shares of the financial services provider’s stock valued at $2,676,000 after purchasing an additional 7,310 shares during the last quarter. Finally, Delta Lloyd Asset Management N.V. acquired a new stake in shares of Comerica in the second quarter valued at about $1,876,000. 81.95% of the stock is currently owned by hedge funds and other 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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