Comerica (NYSE:CMA) Lifted to Buy at Instinet

Comerica (NYSE:CMA) was upgraded by investment analysts at Instinet from a “neutral” rating to a “buy” rating in a note issued to investors on Friday, January 5th.

CMA has been the topic of several other research reports. Piper Jaffray Companies upgraded shares of Comerica to a “buy” rating and set a $98.00 price target on the stock in a research note on Friday, December 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price target on shares of Comerica in a research note on Wednesday, December 13th. Deutsche Bank upped their target price on shares of Comerica from $80.00 to $82.00 and gave the company a “hold” rating in a research report on Wednesday, November 8th. Royal Bank of Canada reiterated a “buy” rating and set a $82.00 price target on shares of Comerica in a report on Friday, September 8th. Finally, DA Davidson restated a “hold” rating and issued a $81.00 target price on shares of Comerica in a research note on Wednesday, October 18th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Comerica currently has a consensus rating of “Hold” and a consensus target price of $87.07.

Comerica (NYSE CMA) traded up $0.52 during trading hours on Friday, reaching $93.04. 1,623,500 shares of the company’s stock were exchanged, compared to its average volume of 1,484,022. Comerica has a fifty-two week low of $64.04 and a fifty-two week high of $93.54. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $16,180.00, a P/E ratio of 21.10, a PEG ratio of 1.65 and a beta of 1.50.

Comerica (NYSE:CMA) last released its earnings results on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. Comerica had a net margin of 24.87% and a return on equity of 10.35%. The company had revenue of $821.00 million for the quarter, compared to analysts’ expectations of $812.83 million. During the same quarter in the previous year, the company earned $0.84 EPS. equities analysts predict that Comerica will post 4.85 earnings per share for the current year.

In other news, EVP Christine M. Moore sold 3,200 shares of the stock in a transaction on Friday, November 10th. The shares were sold at an average price of $75.07, for a total value of $240,224.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michael T. Ritchie sold 4,596 shares of the stock in a transaction 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. Company insiders own 1.10% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in CMA. Janus Henderson Group PLC grew its position in Comerica by 12,425.0% during the second quarter. Janus Henderson Group PLC now owns 2,064,363 shares of the financial services provider’s stock valued at $151,194,000 after buying an additional 2,047,881 shares during the period. JPMorgan Chase & Co. grew its position in Comerica by 33.4% during the third quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock valued at $507,632,000 after buying an additional 1,681,640 shares during the period. Vanguard Group Inc. grew its position in Comerica by 6.7% during the second quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock valued at $1,330,147,000 after buying an additional 1,142,275 shares during the period. State Street Corp grew its position in Comerica by 11.3% during the second quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock valued at $731,672,000 after buying an additional 1,010,965 shares during the period. Finally, Voya Investment Management LLC grew its position in Comerica by 132.7% during the second quarter. Voya Investment Management LLC now owns 1,692,458 shares of the financial services provider’s stock valued at $123,956,000 after buying an additional 965,041 shares during the period. Institutional investors own 81.95% of the company’s stock.

TRADEMARK VIOLATION NOTICE: “Comerica (NYSE:CMA) Lifted to Buy at Instinet” was first posted by BBNS and is the sole property of of BBNS. If you are accessing this story on another domain, it was illegally copied and reposted in violation of United States & international copyright & trademark law. The legal version of this story can be accessed at https://baseballnewssource.com/markets/comerica-cma-raised-to-buy-at-instinet/1818826.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.

 


Latest News

Rumor: Milwaukee Brewers Offer Yu Darvish Contract
Rumor: Milwaukee Brewers Offer Yu Darvish Contract
Report: 20-Second Clock and Limit on Mound Visits Rejected by MLBPA
Report: 20-Second Clock and Limit on Mound Visits Rejected by MLBPA
Christian Yelich’s Agent Says Relationship with Marlins is Broken
Christian Yelich’s Agent Says Relationship with Marlins is Broken
Houston Astros Add Starter to Rotation
Houston Astros Add Starter to Rotation
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Sources: Mets Bringing Back Jay Bruce with Three-Year Deal
Justin Morneau Former Star With Twins and AL MVP Retires
Justin Morneau Former Star With Twins and AL MVP Retires


Leave a Reply

 
© 2006-2018 BBNS.