Comerica (CMA) Given Buy Rating at Royal Bank of Canada

Comerica (NYSE:CMA)‘s stock had its “buy” rating restated by Royal Bank of Canada in a research note issued to investors on Wednesday. They presently have a $103.00 price target on the financial services provider’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 8.70% from the stock’s previous close.

CMA has been the subject of several other reports. Keefe, Bruyette & Woods restated a “buy” rating and issued a $101.00 price target on shares of Comerica in a research note on Friday, December 22nd. Zacks Investment Research downgraded Comerica from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Nomura boosted their price target on Comerica from $74.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, October 23rd. Citigroup restated a “sell” rating and issued a $69.00 price target (up from $65.00) on shares of Comerica in a research note on Monday, October 9th. Finally, DA Davidson restated a “hold” rating and issued a $81.00 price target on shares of Comerica in a research note on Wednesday, October 18th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $92.37.

Comerica (NYSE CMA) traded up $0.97 on Wednesday, reaching $94.76. The company had a trading volume of 1,570,000 shares, compared to its average volume of 1,590,000. The company has a market cap of $16,480.00, a P/E ratio of 21.49, a PEG ratio of 1.65 and a beta of 1.50. Comerica has a twelve month low of $64.04 and a twelve month high of $95.49. 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 quarterly earnings results on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.25 by $0.03. The business had revenue of $830.00 million during the quarter, compared to the consensus estimate of $819.30 million. Comerica had a return on equity of 10.35% and a net margin of 24.87%. During the same period in the previous year, the company posted $0.92 EPS. sell-side analysts predict that Comerica will post 4.85 EPS for the current year.

In other news, insider Michael T. Ritchie sold 4,596 shares of the business’s stock in a transaction 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christine M. Moore sold 3,200 shares of the business’s stock in a transaction 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. Corporate insiders own 1.10% of the company’s stock.

Several institutional investors have recently bought and sold shares of CMA. Janus Henderson Group PLC raised its holdings in shares of Comerica by 12,425.0% during the 2nd quarter. Janus Henderson Group PLC now owns 2,064,363 shares of the financial services provider’s stock worth $151,194,000 after buying an additional 2,047,881 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Comerica by 33.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock worth $507,632,000 after buying an additional 1,681,640 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Comerica by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock worth $1,330,147,000 after buying an additional 1,142,275 shares in the last quarter. State Street Corp raised its holdings in shares of Comerica by 11.3% during the 2nd quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock worth $731,672,000 after buying an additional 1,010,965 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Comerica by 132.7% during the 2nd quarter. Voya Investment Management LLC now owns 1,692,458 shares of the financial services provider’s stock worth $123,956,000 after buying an additional 965,041 shares in the last quarter. 81.95% of the stock is owned by institutional investors.

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About Comerica

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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