Comerica (CMA) Price Target Raised to $117.00

Comerica (NYSE:CMA) had its price objective raised by equities researchers at Nomura to $117.00 in a research report issued on Monday. The firm presently has a “buy” rating on the financial services provider’s stock. Nomura’s price objective would suggest a potential upside of 24.36% from the stock’s current price.

Several other equities research analysts have also recently commented on CMA. UBS initiated coverage on shares of Comerica in a research report on Wednesday, March 21st. They set a “buy” rating and a $114.00 price target for the company. Bank of America lifted their price target on shares of Comerica from $97.00 to $104.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 13th. Zacks Investment Research cut shares of Comerica from a “buy” rating to a “hold” rating in a research report on Tuesday, March 13th. BMO Capital Markets reiterated a “buy” rating and set a $116.00 price target on shares of Comerica in a research report on Wednesday, March 7th. Finally, ValuEngine upgraded shares of Comerica from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. Comerica has an average rating of “Hold” and an average price target of $94.54.

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Shares of Comerica (NYSE CMA) traded up $2.39 during midday trading on Monday, hitting $94.08. 165,070 shares of the company’s stock were exchanged, compared to its average volume of 1,510,602. Comerica has a one year low of $64.04 and a one year high of $102.66. The company has a market capitalization of $15,845.25, a P/E ratio of 22.77, a PEG ratio of 1.39 and a beta of 1.39. 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 earnings results on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 the consensus estimate of $819.30 million. During the same period in the previous year, the firm posted $0.92 earnings per share. research analysts expect that Comerica will post 6.6 earnings per share for the current year.

In other news, insider Peter William Guilfoile sold 1,052 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $97.00, for a total value of $102,044.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Megan D. Burkhart sold 4,670 shares of the company’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $99.20, for a total transaction of $463,264.00. The disclosure for this sale can be found here. Insiders sold 272,006 shares of company stock valued at $26,250,992 in the last quarter. Corporate insiders own 0.83% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in CMA. New York State Common Retirement Fund lifted its position in shares of Comerica by 10.2% in the third quarter. New York State Common Retirement Fund now owns 475,714 shares of the financial services provider’s stock worth $36,278,000 after purchasing an additional 44,197 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Comerica by 17.0% in the third quarter. Russell Investments Group Ltd. now owns 286,573 shares of the financial services provider’s stock worth $21,854,000 after purchasing an additional 41,553 shares in the last quarter. Commonwealth Equity Services Inc lifted its position in shares of Comerica by 30.5% in the third quarter. Commonwealth Equity Services Inc now owns 10,325 shares of the financial services provider’s stock worth $787,000 after purchasing an additional 2,415 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Comerica by 3.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 34,362 shares of the financial services provider’s stock worth $2,620,000 after purchasing an additional 1,284 shares in the last quarter. Finally, Great West Life Assurance Co. Can lifted its position in shares of Comerica by 14.3% in the third quarter. Great West Life Assurance Co. Can now owns 560,995 shares of the financial services provider’s stock worth $42,570,000 after purchasing an additional 70,336 shares in the last quarter. Institutional investors own 83.05% of the company’s stock.

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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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