Comerica (NYSE:CMA) was upgraded by equities research analysts at Odeon Capital Group from a “sell” rating to a “hold” rating in a note issued to investors on Thursday, The Fly reports.
A number of other research analysts have also recently commented on CMA. Citigroup upgraded shares of Comerica from a “sell” rating to a “neutral” rating and increased their price target for the company from $65.00 to $70.00 in a research report on Wednesday, January 22nd. DA Davidson reaffirmed an “average” rating and issued a $69.00 price target on shares of Comerica in a research report on Wednesday, January 22nd. Stephens lowered their price target on Comerica from $74.00 to $70.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. TheStreet lowered Comerica from a “b-” rating to a “c+” rating in a research report on Thursday, February 27th. Finally, Wells Fargo & Co lowered Comerica from an “equal weight” rating to an “underweight” rating and set a $71.00 price target for the company. in a research report on Monday, January 6th. Five analysts have rated the stock with a sell rating, fifteen have issued a hold rating and one has assigned a buy rating to the company’s stock. Comerica currently has a consensus rating of “Hold” and a consensus target price of $64.50.
Shares of Comerica stock traded up $0.92 on Thursday, reaching $33.99. The stock had a trading volume of 2,422,660 shares, compared to its average volume of 3,865,947. Comerica has a 1 year low of $24.28 and a 1 year high of $80.62. The company has a market cap of $4.28 billion, a P/E ratio of 4.32, a price-to-earnings-growth ratio of 0.34 and a beta of 1.54. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.99. The business’s 50 day moving average is $49.52 and its two-hundred day moving average is $63.16.
In other Comerica news, EVP James Harry Weber sold 6,500 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $63.54, for a total transaction of $413,010.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.55% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Brinker Capital Inc. grew its stake in shares of Comerica by 8.1% during the 4th quarter. Brinker Capital Inc. now owns 3,280 shares of the financial services provider’s stock valued at $237,000 after acquiring an additional 245 shares during the period. CI Investments Inc. lifted its holdings in Comerica by 4.8% in the 4th quarter. CI Investments Inc. now owns 6,036 shares of the financial services provider’s stock worth $433,000 after purchasing an additional 277 shares in the last quarter. Quadrant Capital Group LLC lifted its holdings in Comerica by 169.7% in the 4th quarter. Quadrant Capital Group LLC now owns 499 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 314 shares in the last quarter. Huntington National Bank lifted its holdings in Comerica by 5.9% in the 4th quarter. Huntington National Bank now owns 5,864 shares of the financial services provider’s stock worth $421,000 after purchasing an additional 325 shares in the last quarter. Finally, Strs Ohio lifted its holdings in Comerica by 2.9% in the 4th quarter. Strs Ohio now owns 11,735 shares of the financial services provider’s stock worth $841,000 after purchasing an additional 334 shares in the last quarter. Institutional investors own 83.32% of the company’s stock.
Comerica Company Profile
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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