Comerica (CMA) Price Target Increased to $97.00 by Analysts at Wedbush
Comerica (NYSE:CMA) had its price target increased by equities research analysts at Wedbush from $91.00 to $97.00 in a research note issued to investors on Wednesday. The firm currently has a “neutral” rating on the financial services provider’s stock. Wedbush’s price objective suggests a potential upside of 2.12% from the stock’s current price. 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.
Other analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $79.00 target price on shares of Comerica in a report on Friday, September 22nd. FBR & Co reiterated a “buy” rating and issued a $84.00 target price (up previously from $79.00) on shares of Comerica in a report on Tuesday, October 17th. Piper Jaffray Companies reiterated a “buy” rating on shares of Comerica in a report on Tuesday, October 17th. B. Riley restated a “buy” rating and set a $84.00 price target on shares of Comerica in a research report on Monday, December 4th. Finally, Zacks Investment Research upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a research report on Monday, December 11th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $92.37.
Shares of Comerica (CMA) traded up $1.18 during mid-day trading on Wednesday, hitting $94.99. 2,504,836 shares of the stock traded hands, compared to its average volume of 1,645,377. The stock has a market capitalization of $16,520.00, a P/E ratio of 22.94, a P/E/G ratio of 1.68 and a beta of 1.50. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.00. Comerica has a 52 week low of $64.04 and a 52 week high of $95.60.
In other Comerica 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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. 1.10% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the business. Toronto Dominion Bank boosted its position 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 purchasing an additional 6,843 shares during the period. APG Asset Management N.V. lifted its holdings in shares of Comerica by 23.4% in 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 buying an additional 17,700 shares in the last quarter. BlackRock Inc. lifted its holdings 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 worth $829,069,000 after buying an additional 51,426 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Comerica by 3.2% in the third quarter. Dimensional Fund Advisors LP now owns 996,123 shares of the financial services provider’s stock worth $75,956,000 after buying an additional 31,136 shares in the last quarter. Finally, Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Comerica in the third quarter worth about $35,346,000. Hedge funds and other institutional investors 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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