Comerica (NYSE:CMA) received a $91.00 price objective from Piper Jaffray Companies in a research report issued to clients and investors on Tuesday, Stock Target Advisor reports. The brokerage currently has a “buy” rating on the financial services provider’s stock. Piper Jaffray Companies’ price objective would indicate a potential upside of 30.04% from the company’s current price. Piper Jaffray Companies also issued estimates for Comerica’s Q2 2019 earnings at $2.02 EPS, Q4 2019 earnings at $2.03 EPS, FY2019 earnings at $8.15 EPS, Q1 2020 earnings at $1.99 EPS, Q2 2020 earnings at $2.01 EPS, Q3 2020 earnings at $2.11 EPS, Q4 2020 earnings at $2.17 EPS and FY2020 earnings at $8.29 EPS.
Several other equities research analysts have also issued reports on CMA. BMO Capital Markets lowered Comerica from an “outperform” rating to a “market perform” rating and set a $83.00 price objective for the company. in a research note on Thursday, February 14th. Stephens lowered Comerica from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, March 6th. Zacks Investment Research raised Comerica from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research note on Tuesday, March 12th. Wedbush lowered Comerica from an “outperform” rating to a “neutral” rating and dropped their price objective for the company from $86.00 to $85.00 in a research note on Wednesday, March 13th. Finally, ValuEngine lowered Comerica from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 21st. Three investment analysts have rated the stock with a sell rating, sixteen have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $91.23.
Comerica stock opened at $69.98 on Tuesday. Comerica has a one year low of $63.69 and a one year high of $100.64. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $10.83 billion, a PE ratio of 9.67, a P/E/G ratio of 1.22 and a beta of 1.47.
Comerica (NYSE:CMA) last posted its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $2.08 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.15. The company had revenue of $852.00 million during the quarter, compared to analyst estimates of $852.88 million. Comerica had a return on equity of 16.95% and a net margin of 34.75%. The firm’s quarterly revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $1.59 earnings per share. Analysts anticipate that Comerica will post 8.23 EPS for the current fiscal year.
In other news, EVP Christine M. Moore sold 3,200 shares of Comerica stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $73.49, for a total value of $235,168.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.98% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Trust Department MB Financial Bank N A increased its holdings in shares of Comerica by 64.3% in the first quarter. Trust Department MB Financial Bank N A now owns 345 shares of the financial services provider’s stock worth $25,000 after buying an additional 135 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in shares of Comerica in the fourth quarter worth about $25,000. Liberty Wealth Management LLC purchased a new position in shares of Comerica in the fourth quarter worth about $26,000. WealthBridge Capital Management LLC increased its holdings in shares of Comerica by 1,673.9% in the first quarter. WealthBridge Capital Management LLC now owns 408 shares of the financial services provider’s stock worth $31,000 after buying an additional 385 shares during the period. Finally, Claybrook Capital LLC purchased a new position in shares of Comerica in the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 83.54% of the company’s stock.
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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