Comerica (NYSE:CMA) Research Coverage Started at Wolfe Research
Equities researchers at Wolfe Research started coverage on shares of Comerica (NYSE:CMA) in a research report issued to clients and investors on Friday, The Fly reports. The brokerage set an “underperform” rating on the financial services provider’s stock.
A number of other equities analysts have also weighed in on CMA. Wedbush raised Comerica from a “neutral” rating to an “outperform” rating and set a $54.00 target price on the stock in a research report on Tuesday, June 9th. Nomura Securities decreased their price target on Comerica from $66.00 to $31.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Odeon Capital Group downgraded Comerica from a “hold” rating to a “sell” rating and set a $32.70 price target for the company. in a report on Wednesday, July 22nd. Robert W. Baird upgraded Comerica from a “neutral” rating to an “outperform” rating and set a $49.00 price target for the company in a report on Friday, July 10th. Finally, Wells Fargo & Co upped their price target on Comerica from $31.00 to $34.00 in a report on Friday, June 5th. Seven investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $45.31.
Shares of NYSE:CMA opened at $38.52 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.88. Comerica has a twelve month low of $24.28 and a twelve month high of $74.04. The stock’s 50 day moving average is $36.93 and its 200-day moving average is $42.39. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 12.55 and a beta of 1.85.
Several hedge funds have recently bought and sold shares of CMA. Renaissance Technologies LLC bought a new position in shares of Comerica during the 4th quarter worth $2,120,000. Advisors Asset Management Inc. lifted its holdings in Comerica by 14.4% during the 4th quarter. Advisors Asset Management Inc. now owns 8,732 shares of the financial services provider’s stock worth $627,000 after purchasing an additional 1,098 shares in the last quarter. Baird Financial Group Inc. lifted its holdings in Comerica by 82.7% during the 4th quarter. Baird Financial Group Inc. now owns 14,686 shares of the financial services provider’s stock worth $1,053,000 after purchasing an additional 6,649 shares in the last quarter. Man Group plc lifted its holdings in Comerica by 1,204.5% during the 4th quarter. Man Group plc now owns 72,793 shares of the financial services provider’s stock worth $5,223,000 after purchasing an additional 67,213 shares in the last quarter. Finally, Brinker Capital Inc. lifted its holdings in Comerica by 8.1% during the 4th quarter. Brinker Capital Inc. now owns 3,280 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 245 shares in the last quarter. Institutional investors own 80.45% of the company’s stock.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers 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 middle market businesses, multinational corporations, and governmental entities.
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