Comerica (NYSE:CMA) was downgraded by investment analysts at ValuEngine from a “hold” rating to a “sell” rating in a report issued on Monday.
A number of other equities research analysts have also weighed in on CMA. Zacks Investment Research lowered shares of Comerica from a “buy” rating to a “hold” rating in a report on Wednesday, June 27th. Sandler O’Neill reissued a “hold” rating and set a $100.00 price objective on shares of Comerica in a report on Thursday, July 26th. BMO Capital Markets dropped their price objective on shares of Comerica from $108.00 to $100.00 and set an “outperform” rating on the stock in a report on Wednesday, October 17th. Citigroup boosted their price objective on shares of Comerica from $84.00 to $88.00 and gave the company a “sell” rating in a report on Friday, July 20th. Finally, Nomura dropped their price objective on shares of Comerica from $114.00 to $102.00 and set a “buy” rating on the stock in a report on Wednesday, October 17th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $100.58.
Shares of CMA traded down $3.27 during trading hours on Monday, reaching $81.14. 1,516,778 shares of the company traded hands, compared to its average volume of 1,621,892. The firm has a market capitalization of $14.47 billion, a PE ratio of 17.15, a price-to-earnings-growth ratio of 0.60 and a beta of 1.42. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.03 and a quick ratio of 1.02. Comerica has a 12-month low of $74.16 and a 12-month high of $102.66.
Comerica (NYSE:CMA) last announced its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share for the quarter, beating analysts’ consensus estimates of $1.81 by $0.05. The firm had revenue of $833.00 million for the quarter, compared to analyst estimates of $852.72 million. Comerica had a net margin of 29.54% and a return on equity of 14.41%. During the same period in the previous year, the company earned $1.26 earnings per share. As a group, research analysts anticipate that Comerica will post 7.18 EPS for the current fiscal year.
In related news, EVP Christine M. Moore sold 4,800 shares of the business’s stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $98.41, for a total transaction of $472,368.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.83% of the company’s stock.
Several institutional investors have recently modified their holdings of the business. IFM Investors Pty Ltd raised its position in shares of Comerica by 16.2% in the third quarter. IFM Investors Pty Ltd now owns 9,464 shares of the financial services provider’s stock worth $854,000 after acquiring an additional 1,318 shares during the period. Strs Ohio raised its position in shares of Comerica by 1.8% in the third quarter. Strs Ohio now owns 39,675 shares of the financial services provider’s stock worth $3,578,000 after acquiring an additional 697 shares during the period. First Citizens Bank & Trust Co. acquired a new position in shares of Comerica in the third quarter worth about $2,752,000. Oakbrook Investments LLC raised its position in shares of Comerica by 44.8% in the third quarter. Oakbrook Investments LLC now owns 9,695 shares of the financial services provider’s stock worth $874,000 after acquiring an additional 3,000 shares during the period. Finally, Bowling Portfolio Management LLC raised its position in shares of Comerica by 2.0% in the third quarter. Bowling Portfolio Management LLC now owns 38,063 shares of the financial services provider’s stock worth $3,433,000 after acquiring an additional 738 shares during the period. Institutional investors and hedge funds own 81.38% of the company’s stock.
Comerica Company Profile
Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through three segments: Business Bank, the Retail Bank, and Wealth Management. The Business Bank segment offers 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, and loan syndication services to middle market businesses, multinational corporations, and governmental entities.
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