Comerica (NYSE:CMA)‘s stock had its “hold” rating restated by equities research analysts at SunTrust Banks in a research note issued to investors on Tuesday. They currently have a $86.00 price objective on the financial services provider’s stock. SunTrust Banks’ price target would indicate a potential downside of 5.82% from the stock’s current price. SunTrust Banks also issued estimates for Comerica’s Q1 2018 earnings at $1.42 EPS, Q2 2018 earnings at $1.48 EPS, Q3 2018 earnings at $1.53 EPS, Q4 2018 earnings at $1.56 EPS, FY2018 earnings at $5.99 EPS and FY2019 earnings at $6.50 EPS.
Other equities analysts have also recently issued reports about the stock. Nomura upped their price objective on shares of Comerica from $74.00 to $86.00 and gave the company a “neutral” rating in a research report on Monday, October 23rd. Zacks Investment Research cut shares of Comerica from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. BMO Capital Markets reissued a “hold” rating and issued a $91.00 price objective on shares of Comerica in a research report on Wednesday, December 20th. Sanford C. Bernstein reissued a “market perform” rating and issued a $80.00 price objective (up from $78.00) on shares of Comerica in a research report on Saturday, September 16th. Finally, Citigroup reissued a “sell” rating and issued a $69.00 price objective (up from $65.00) on shares of Comerica in a research report on Monday, October 9th. Three 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’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $87.07.
Shares of Comerica (NYSE CMA) traded up $0.94 during trading on Tuesday, reaching $91.31. 1,374,400 shares of the company were exchanged, compared to its average volume of 1,384,886. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. Comerica has a 12-month low of $64.04 and a 12-month high of $92.42. The stock has a market cap of $15,720.00, a PE ratio of 20.71, a price-to-earnings-growth ratio of 1.81 and a beta of 1.50.
In related news, EVP Christine M. Moore sold 3,200 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $75.07, for a total transaction of $240,224.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael T. Ritchie sold 4,596 shares of the stock in a transaction dated 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.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Toronto Dominion Bank raised its stake in Comerica by 11.4% during the third quarter. Toronto Dominion Bank now owns 66,770 shares of the financial services provider’s stock worth $5,092,000 after acquiring an additional 6,843 shares during the period. APG Asset Management N.V. raised its stake in Comerica by 23.4% during the third quarter. APG Asset Management N.V. now owns 93,210 shares of the financial services provider’s stock worth $7,108,000 after acquiring an additional 17,700 shares during the period. BlackRock Inc. raised its stake in Comerica by 0.5% during the second quarter. BlackRock Inc. now owns 11,319,900 shares of the financial services provider’s stock worth $829,069,000 after acquiring an additional 51,426 shares during the period. Old Mutual Global Investors UK Ltd. acquired a new stake in Comerica during the third quarter worth about $35,346,000. Finally, Dimensional Fund Advisors LP raised its stake in Comerica by 3.2% during the third quarter. Dimensional Fund Advisors LP now owns 996,123 shares of the financial services provider’s stock worth $75,956,000 after acquiring an additional 31,136 shares during the period. Hedge funds and other institutional investors own 81.95% of the company’s stock.
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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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