Comerica (NYSE:CMA) was downgraded by Citigroup from a “neutral” rating to a “sell” rating in a research report issued to clients and investors on Friday, MarketBeat reports. They currently have a $66.00 price target on the financial services provider’s stock, down from their prior price target of $80.00. Citigroup‘s target price suggests a potential downside of 9.39% from the company’s current price.
A number of other research analysts have also weighed in on CMA. Piper Jaffray Companies set a $29.00 price objective on Bausch Health Companies and gave the stock a “buy” rating in a report on Tuesday, June 11th. Jefferies Financial Group set a $158.00 price objective on HCA Healthcare and gave the stock a “buy” rating in a report on Wednesday, April 17th. Zacks Investment Research lowered Granite Point Mortgage Trust from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, Bank of America set a $97.00 price objective on Merck & Co., Inc. and gave the stock a “buy” rating in a report on Thursday. Six equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $87.05.
NYSE:CMA opened at $72.84 on Friday. The firm has a market capitalization of $11.23 billion, a price-to-earnings ratio of 9.35, a P/E/G ratio of 1.28 and a beta of 1.44. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.03 and a current ratio of 1.03. The company has a 50 day moving average of $71.03. Comerica has a 12-month low of $63.69 and a 12-month high of $100.64.
Comerica (NYSE:CMA) last announced its quarterly earnings data on Tuesday, April 16th. The financial services provider reported $2.08 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.93 by $0.15. Comerica had a return on equity of 16.95% and a net margin of 34.75%. The firm had revenue of $852.00 million for the quarter, compared to analyst estimates of $852.88 million. During the same quarter in the prior year, the company posted $1.59 earnings per share. Comerica’s quarterly revenue was up 7.4% on a year-over-year basis. On average, analysts expect that Comerica will post 8.13 earnings per share for the current fiscal year.
In other Comerica news, EVP Christine M. Moore sold 3,200 shares of the company’s stock in a transaction on 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 document filed with the SEC, which is accessible through the SEC website. 0.98% of the stock is currently owned by corporate insiders.
Institutional investors have recently bought and sold shares of the business. Trust Department MB Financial Bank N A lifted its position 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 valued at $25,000 after acquiring an additional 135 shares in the last quarter. Liberty Wealth Management LLC purchased a new stake in shares of Comerica in the fourth quarter valued at $26,000. Claybrook Capital LLC purchased a new stake in shares of Comerica in the fourth quarter valued at $29,000. CWM LLC lifted its position in shares of Comerica by 247.5% in the first quarter. CWM LLC now owns 424 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 302 shares in the last quarter. Finally, Zions Bancorporation N.A. purchased a new stake in shares of Comerica in the first quarter valued at $35,000. 83.43% of the stock is currently owned by institutional investors.
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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