Comerica (CMA) Stock Rating Reaffirmed by Royal Bank of Canada

Comerica (NYSE:CMA)‘s stock had its “buy” rating reiterated by analysts at Royal Bank of Canada in a research report issued on Wednesday. They presently have a $103.00 target price on the financial services provider’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 9.80% from the company’s previous close.

A number of other research analysts have also recently weighed in on CMA. Zacks Investment Research cut shares of Comerica from a “hold” rating to a “sell” rating in a report on Tuesday, September 19th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $79.00 price objective on shares of Comerica in a report on Friday, September 22nd. Nomura lifted their price objective on shares of Comerica from $71.00 to $74.00 and gave the company a “neutral” rating in a report on Thursday, September 28th. Instinet restated a “neutral” rating and issued a $74.00 price objective (up previously from $71.00) on shares of Comerica in a report on Saturday, September 30th. Finally, SunTrust Banks restated a “hold” rating and issued a $80.00 price objective on shares of Comerica in a report on Wednesday, October 4th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $92.37.

Comerica (NYSE CMA) traded down $0.95 during trading on Wednesday, hitting $93.81. 1,303,900 shares of the stock were exchanged, compared to its average volume of 1,573,492. The stock has a market cap of $16,393.48, a P/E ratio of 22.71, a price-to-earnings-growth ratio of 1.68 and a beta of 1.51. Comerica has a twelve month low of $64.04 and a twelve month high of $95.60. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.58.

Comerica (NYSE:CMA) last released its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. The business had revenue of $830.00 million for the quarter, compared to the consensus estimate of $819.30 million. Comerica had a net margin of 22.47% and a return on equity of 10.94%. During the same period in the previous year, the firm earned $0.92 EPS. equities research analysts forecast that Comerica will post 6.27 earnings per share for the current year.

In other Comerica news, EVP Christine M. Moore sold 3,200 shares of the business’s stock in a transaction that occurred on 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael T. Ritchie sold 4,596 shares of the business’s stock in a transaction that occurred 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. Insiders own 1.10% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Zeke Capital Advisors LLC acquired a new position in shares of Comerica in the 3rd quarter valued at $200,000. IBM Retirement Fund acquired a new position in shares of Comerica in the 3rd quarter valued at $200,000. BB&T Corp acquired a new position in shares of Comerica in the 3rd quarter valued at $206,000. West Oak Capital LLC boosted its holdings in shares of Comerica by 1,040.7% in the 4th quarter. West Oak Capital LLC now owns 2,806 shares of the financial services provider’s stock valued at $244,000 after buying an additional 2,560 shares in the last quarter. Finally, Visionary Asset Management Inc. acquired a new position in shares of Comerica in the 3rd quarter valued at $218,000. Institutional investors own 81.95% of the company’s stock.

COPYRIGHT VIOLATION WARNING: “Comerica (CMA) Stock Rating Reaffirmed by Royal Bank of Canada” was originally published by Community Financial News and is owned by of Community Financial News. If you are accessing this story on another domain, it was stolen and republished in violation of United States & international copyright & trademark laws. The correct version of this story can be accessed at https://www.com-unik.info/2018/01/19/comerica-cma-stock-rating-reaffirmed-by-royal-bank-of-canada.html.

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)

Receive News & Ratings for Comerica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comerica and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit