B. Riley Raises Comerica (NYSE: CMA) Price Target to $ 100.00
Comerica (NYSE: CMA) saw its price target raised by research analysts on B. Riley’s shares from $ 87.00 to $ 100.00 in a research report released to clients and investors Wednesday, The Fly reports. B. Riley’s price target indicates a potential increase of 2.07% from the company’s current price.
Other stock analysts have also recently published reports on the company. Raymond James raised his price target on Comerica from $ 94.00 to $ 96.00 and gave the company an “outperformance” rating in a report released on Thursday, October 21. Zacks Investment Research downgraded Comerica from a “buy” rating to a “conservation” rating and set a price target of $ 104.00 for the stock. in a research report on Friday, January 7. Royal Bank of Canada increased its target price for Comerica from $ 91.00 to $ 95 and rated the stock as “outperforming” in a report released on Thursday, October 21. Truist Securities raised its price target for Comerica from $ 83.00 to $ 98.00 and gave the stock a “buy” rating in a research note on Thursday, October 21. Finally, Truist increased its price target on Comerica from $ 83.00 to $ 98.00 and gave the stock a “buy” rating in a research note on Thursday, October 21. Four investment analysts gave the stock a sell rating, eight assigned a conservation rating and ten gave the company a buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $ 92.19.
NYSE CMA opened at $ 97.97 on Wednesday. The company has a market cap of $ 12.85 billion, a P / E ratio of 11.96, a PEG ratio of 0.65 and a beta of 1.48. The company has a fifty-day simple moving average of $ 87.52 and a 200-day simple moving average of $ 79.53. Comerica has a 12 month low of $ 55.87 and a 12 month high of $ 98.53. The company has a current ratio of 0.92, a quick ratio of 0.92, and a debt ratio of 0.38.
Comerica (NYSE: CMA) last released its quarterly results on Tuesday, October 19. The financial services provider reported earnings per share of $ 1.90 for the quarter, beating the consensus estimate of $ 1.64 by $ 0.26. Comerica recorded a return on equity of 15.22% and a net margin of 38.31%. The company posted revenue of $ 755.00 million in the quarter, compared to a consensus estimate of $ 733.42 million. In the same quarter of the previous year, the company achieved EPS of $ 1.44. As a group, sell-side analysts expect Comerica to post EPS of 8.28 for the current fiscal year.
In addition, Executive Vice President James Harry Weber sold 2,454 Comerica shares in a transaction dated Friday, October 22. The stock was sold for an average price of $ 88.50, for a total value of $ 217,179.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible through this link. In addition, Executive Vice President John D. Buchanan sold 5,688 shares of Comerica in a transaction dated Thursday, October 28. The shares were sold for an average price of $ 85.11, for a total value of $ 484,105.68. Disclosure of this sale can be found here. Insiders sold a total of 18,066 shares of the company valued at $ 1,588,810 during the last quarter. Company insiders own 0.67% of the company’s shares.
Institutional investors have recently changed their holdings in the company. 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 provider valued at $ 28,000 after acquiring 135 more shares in the last quarter. Kings Point Capital Management purchased a new stake in Comerica in the third quarter valued at approximately $ 32,000. Canton Hathaway LLC purchased a new stake in Comerica in the third quarter valued at approximately $ 36,000. AGF Investments LLC purchased a new equity stake in Comerica during the third quarter valued at $ 40,000. Finally, Covington Capital Management increased its position in Comerica shares by 229.4% during the second quarter. Covington Capital Management now owns 718 shares of the financial services provider valued at $ 51,000 after acquiring an additional 500 shares during the period. Institutional investors and hedge funds hold 77.69% of the company’s shares.
Comerica, Inc is engaged in the provision of financial services. It operates through the following segments: Commercial banking, Retail banking, Wealth management, Finance and others. The Commercial Banking segment involves middle market enterprises, multinational corporations and government entities by offering various products and services such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, trade management services and loan syndication services.
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