Comerica’s (CMA) “Buy” Rating Reaffirmed at Vining Sparks
Comerica (NYSE:CMA)‘s stock had its “buy” rating reaffirmed by research analysts at Vining Sparks in a research note issued to investors on Monday. They presently have a $97.50 price target on the financial services provider’s stock. Vining Sparks’ price objective indicates a potential upside of 5.57% from the company’s previous close.
A number of other brokerages have also issued reports on CMA. Nomura raised their price target on Comerica from $74.00 to $86.00 and gave the stock a “neutral” rating in a research note on Monday, October 23rd. Zacks Investment Research lowered Comerica from a “buy” rating to a “hold” rating in a research note on Tuesday, December 19th. BMO Capital Markets restated a “hold” rating and set a $91.00 price objective on shares of Comerica in a report on Wednesday, December 20th. Sanford C. Bernstein restated a “market perform” rating and set a $80.00 price objective (up from $78.00) on shares of Comerica in a report on Saturday, September 16th. Finally, Citigroup restated a “sell” rating and set a $69.00 price objective (up from $65.00) on shares of Comerica in a report on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $87.07.
Shares of Comerica (NYSE CMA) traded up $1.99 during mid-day trading on Monday, hitting $92.36. The company had a trading volume of 735,496 shares, compared to its average volume of 1,386,617. Comerica has a 52-week low of $64.04 and a 52-week high of $91.10. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market cap of $15,720.00, a price-to-earnings ratio of 20.94, a P/E/G ratio of 1.81 and a beta of 1.50.
In other news, EVP Christine M. Moore sold 3,200 shares of Comerica 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 value of $345,067.68. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
Several large investors have recently made changes to their positions in the company. Veritable L.P. increased its holdings in shares of Comerica by 0.3% in the 2nd quarter. Veritable L.P. now owns 10,844 shares of the financial services provider’s stock valued at $794,000 after acquiring an additional 32 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Comerica by 0.8% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,145 shares of the financial services provider’s stock valued at $963,000 after acquiring an additional 100 shares during the period. Sentry Investment Management LLC increased its holdings in shares of Comerica by 1.2% in the 2nd quarter. Sentry Investment Management LLC now owns 11,711 shares of the financial services provider’s stock valued at $858,000 after acquiring an additional 142 shares during the period. AXA increased its holdings in shares of Comerica by 1.0% in the 2nd quarter. AXA now owns 20,600 shares of the financial services provider’s stock valued at $1,509,000 after acquiring an additional 200 shares during the period. Finally, Tredje AP fonden increased its holdings in shares of Comerica by 4.7% in the 2nd quarter. Tredje AP fonden now owns 7,430 shares of the financial services provider’s stock valued at $546,000 after acquiring an additional 331 shares during the period. Institutional investors and hedge funds own 81.95% 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.
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