Comerica (NYSE: CMA) was upgraded from a “sell” rating to a “neutral” rating by Compass Point in a research note released Tuesday, The Fly reports.
CMA has been the subject of a number of other reports. Wells Fargo & Company raised its price target on Comerica shares from $ 67.00 to $ 73.00 and rated the company as “underweight” in a research report on Monday, October 4th. JPMorgan Chase & Co. upgraded Comerica shares from an “underweight” rating to a “neutral” rating and in a report dated Wednesday, December 15, set a price target of $ 95.00 for the company. Citigroup raised its target price on Comerica shares from $ 100.00 to $ 110.00 and gave the company a buy recommendation in a report on Thursday, December 16. Truist raised its target price on Comerica shares from $ 83.00 to $ 98.00 and gave the company a buy recommendation in a report dated Thursday, October 21. Finally, Keefe, Bruyette & Woods upgraded Comerica stock from a “Market Perform” rating to an “Outperform” rating and set a price target of $ 90.00 for the stock in a report on Tuesday, September 7th Company. Three analysts have given the stock a sell rating, eight with a hold rating and ten with a buy rating. Comerica currently has an average “Hold” rating and an average price target of $ 87.10, according to data from MarketBeat.
CMA stock opened Tuesday at $ 81.89. Comerica has a 1 year low of $ 52.29 and a 1 year high of $ 91.62. The stock has a market cap of $ 10.74 billion, a P / E of 10.06, a P / E of 0.40, and a beta of 1.48. The company has a 50-day simple moving average of $ 86.14 and a 200-day simple moving average of $ 77.67. The company has a leverage ratio of 0.38, a current ratio of 0.92, and a quick ratio of 0.92.
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Comerica (NYSE: CMA) last announced its quarterly results on Tuesday, October 19. The financial services company reported earnings per share of $ 1.90 for the quarter, beating analysts’ consensus estimate of $ 1.64 by $ 0.26. Comerica had a net margin of 38.31% and a return on equity of 15.22%. The company had revenue of $ 755.00 million for the quarter, compared to analyst expectations of $ 733.42 million. For the same period last year, the company posted earnings of $ 1.44 per share. As a group, sell-side analysts expect Comerica to generate earnings per share of 8.29 for the current fiscal year.
In other Comerica news, EVP John D. Buchanan sold 5,688 shares in the company in a transaction on Thursday, October 28th. The shares were sold at an average price of $ 85.11 for a total of $ 484,105.68. The sale was announced in a legal filing with the SEC, available through this link. In addition, director Ximena G. Humrichouse sold 728 shares in the company in one transaction on Friday, October 22nd. The shares were sold at an average price of $ 88.40 for a total transaction of $ 64,355.20. The disclosure for this sale can be found here. In the most recent quarter, insiders sold 18,066 shares in the company, valued at $ 1,588,810. 0.67% of the shares are owned by insiders.
Institutional investors and hedge funds have recently changed their positions in the business. Lazard Asset Management LLC increased its stake in Comerica by 51.9% in the second quarter. Lazard Asset Management LLC now owns 395 shares of the financial services company valued at $ 28,000 after purchasing an additional 135 shares during the reporting period. Kings Point Capital Management acquired a new position in Comerica for $ 32,000 in the third quarter. Canton Hathaway LLC acquired a new position in Comerica for $ 36,000 in the 3rd quarter. AGF Investments LLC acquired a new position in Comerica for $ 40,000 in the 3rd quarter. Finally, Covington Capital Management increased its stake in Comerica by 229.4% in the second quarter. Covington Capital Management now owns 718 shares in the financial services company, valued at $ 51,000, after purchasing an additional 500 shares during the reporting period. 77.69% of the shares are currently owned by institutional investors.
Comerica, Inc. is engaged in the provision of financial services. It operates in the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance and Other. The Commercial Bank segment encompasses medium-sized companies, multinational corporations and government entities by providing various products and services such as 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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