Comerica (CMA) Price Target Increased to $97.00 by Analysts at Wedbush
Comerica (NYSE:CMA) had its price target increased by Wedbush from $91.00 to $97.00 in a research note released on Wednesday morning. The firm currently has a neutral rating on the financial services provider’s stock. Wedbush also issued estimates for Comerica’s Q1 2018 earnings at $1.50 EPS, Q2 2018 earnings at $1.62 EPS, Q3 2018 earnings at $1.69 EPS, Q4 2018 earnings at $1.74 EPS, FY2018 earnings at $6.55 EPS and FY2019 earnings at $7.23 EPS.
A number of other brokerages have also issued reports on CMA. Zacks Investment Research upgraded shares of Comerica from a hold rating to a strong-buy rating and set a $104.00 price target on the stock in a research note on Wednesday, January 10th. Nomura upped their target price on shares of Comerica from $74.00 to $86.00 and gave the stock a neutral rating in a research note on Monday, October 23rd. BMO Capital Markets restated a hold rating and set a $91.00 target price on shares of Comerica in a research note on Wednesday, December 20th. Vining Sparks restated a buy rating and set a $97.50 target price on shares of Comerica in a research note on Tuesday, January 16th. Finally, Citigroup restated a sell rating and set a $69.00 target price (up from $65.00) on shares of Comerica in a research note on Monday, October 9th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $92.37.
Shares of Comerica (NYSE CMA) traded up $1.18 during trading hours on Wednesday, reaching $94.99. 2,499,549 shares of the company’s stock were exchanged, compared to its average volume of 1,152,911. 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 stock has a market capitalization of $16,433.27, a price-to-earnings ratio of 23.00, a PEG ratio of 1.46 and a beta of 1.51. Comerica has a one year low of $64.04 and a one year high of $95.60.
The business also recently declared a quarterly dividend, which was paid on Monday, January 1st. Shareholders of record on Friday, December 15th were paid a $0.30 dividend. The ex-dividend date of this dividend was Thursday, December 14th. This represents a $1.20 annualized dividend and a yield of 1.26%. Comerica’s dividend payout ratio is currently 29.06%.
In other Comerica news, EVP Christine M. Moore sold 3,200 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $75.07, for a total value of $240,224.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Michael T. Ritchie sold 4,596 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $75.08, for a total transaction of $345,067.68. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. AXA lifted its holdings in shares of Comerica by 1.0% during the second quarter. AXA now owns 20,600 shares of the financial services provider’s stock worth $1,509,000 after purchasing an additional 200 shares during the period. Norinchukin Bank The increased its position in shares of Comerica by 13.1% in the second quarter. Norinchukin Bank The now owns 6,987 shares of the financial services provider’s stock valued at $512,000 after buying an additional 807 shares in the last quarter. BlackRock Inc. increased 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 buying an additional 51,426 shares in the last quarter. Amalgamated Bank increased its position in shares of Comerica by 62.6% in the second quarter. Amalgamated Bank now owns 19,854 shares of the financial services provider’s stock valued at $1,454,000 after buying an additional 7,643 shares in the last quarter. Finally, BlueMountain Capital Management LLC increased its position in shares of Comerica by 423.8% in the second quarter. BlueMountain Capital Management LLC now owns 6,590 shares of the financial services provider’s stock valued at $483,000 after buying an additional 5,332 shares in the last quarter. Institutional investors own 81.95% 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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