Comerica (NYSE:CMA) has been given a $88.00 price target by equities research analysts at Wells Fargo & Company in a research report issued to clients and investors on Wednesday. The firm presently has a “hold” rating on the financial services provider’s stock. Wells Fargo & Company’s price objective points to a potential upside of 1.69% from the stock’s previous close.
Several other analysts also recently weighed in on the stock. Piper Jaffray Companies upgraded shares of Comerica to a “buy” rating and set a $98.00 price objective on the stock in a research report on Friday, December 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 price objective on shares of Comerica in a research report on Wednesday, December 13th. Deutsche Bank lifted their price objective 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. Zacks Investment Research downgraded shares of Comerica from a “buy” rating to a “hold” rating in a research report on Wednesday, August 23rd. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $82.00 price objective on shares of Comerica in a research report on Friday, September 8th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $83.19.
Comerica (NYSE:CMA) opened at $86.54 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00. Comerica has a 52-week low of $64.04 and a 52-week high of $87.48. The stock has a market cap of $15,001.91, a PE ratio of 19.47, a PEG ratio of 1.98 and a beta of 1.51.
In related news, insider Michael T. Ritchie sold 4,596 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $75.08, for a total transaction of $345,067.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christine M. Moore sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $75.07, for a total transaction of $240,224.00. The disclosure for this sale can be found here. Company 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. Parametric Portfolio Associates LLC lifted its stake in Comerica by 8.6% in the third quarter. Parametric Portfolio Associates LLC now owns 563,216 shares of the financial services provider’s stock valued at $42,951,000 after acquiring an additional 44,755 shares during the last quarter. Visionary Asset Management Inc. acquired a new stake in shares of Comerica in the third quarter worth $218,000. IFM Investors Pty Ltd acquired a new stake in shares of Comerica in the third quarter worth $383,000. Neuberger Berman Group LLC lifted its stake in shares of Comerica by 9.9% in the third quarter. Neuberger Berman Group LLC now owns 1,642,665 shares of the financial services provider’s stock worth $125,270,000 after buying an additional 147,497 shares during the last quarter. Finally, California Public Employees Retirement System lifted its stake in shares of Comerica by 4.4% in the third quarter. California Public Employees Retirement System now owns 512,913 shares of the financial services provider’s stock worth $39,115,000 after buying an additional 21,749 shares during the last quarter. Hedge funds and other institutional investors own 81.95% of the company’s stock.
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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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