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 note released on Tuesday, MarketBeat Ratings reports. The brokerage currently has an underweight rating on the financial services provider’s stock.

CMA has been the topic of several other research reports. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $101.00 price target on shares of Comerica in a report on Friday, December 22nd. Zacks Investment Research downgraded shares of Comerica from a buy rating to a hold rating in a research note on Wednesday, November 1st. Nomura boosted their target price on shares of Comerica from $74.00 to $86.00 and gave the company a neutral rating in a research note on Monday, October 23rd. Citigroup reissued 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. Finally, Morgan Stanley reissued an equal weight rating and set a $79.00 target price (up from $76.00) on shares of Comerica in a research note on Wednesday, October 4th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and ten have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $86.00.

Comerica (CMA) opened at $88.47 on Tuesday. The stock has a market capitalization of $15,390.00, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 1.77 and a beta of 1.50. Comerica has a twelve month low of $64.04 and a twelve month high of $88.57. 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 posted its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.03. The company had revenue of $821.00 million for the quarter, compared to analysts’ expectations 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 research analysts forecast that Comerica will post 4.84 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, January 1st. Stockholders of record on Friday, December 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Thursday, December 14th. Comerica’s dividend payout ratio (DPR) is presently 27.21%.

In other news, EVP Christine M. Moore sold 3,200 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $75.07, for a total value of $240,224.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael T. Ritchie sold 4,596 shares of the company’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 disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. West Oak Capital LLC increased its stake in shares of Comerica by 1,040.7% in the fourth quarter. West Oak Capital LLC now owns 2,806 shares of the financial services provider’s stock worth $244,000 after acquiring an additional 2,560 shares during the last quarter. Atlantic Trust Group LLC bought a new stake in Comerica in the third quarter worth $4,573,000. Parametric Portfolio Associates LLC boosted its holdings in Comerica by 8.6% in the third quarter. Parametric Portfolio Associates LLC now owns 563,216 shares of the financial services provider’s stock worth $42,951,000 after purchasing an additional 44,755 shares in the last quarter. Visionary Asset Management Inc. bought a new stake in Comerica in the third quarter worth $218,000. Finally, IFM Investors Pty Ltd bought a new stake in Comerica in the third quarter worth $383,000. 81.95% of the stock is currently owned by institutional investors and hedge funds.

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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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