Comerica (NYSE:CMA) Now Covered by Analysts at StockNews.com

Equities researchers at StockNews.com began coverage on shares of Comerica (NYSE:CMA – Get Rating) in a report released on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

CMA has been the topic of a number of other reports. Citigroup initiated coverage on shares of Comerica in a research note on Friday, March 10th. They issued a “buy” rating and a $90.00 price objective on the stock. Wolfe Research raised their price objective on shares of Comerica from $79.00 to $80.00 in a research note on Thursday, December 1st. Odeon Capital Group lowered shares of Comerica from a “buy” rating to a “hold” rating in a research note on Monday. Wells Fargo & Company dropped their price target on shares of Comerica from $77.00 to $72.00 in a research report on Wednesday, December 14th. Finally, Keefe, Bruyette & Woods lowered shares of Comerica from an “outperform” rating to a “market perform” rating and dropped their price target for the company from $105.00 to $80.00 in a research report on Monday, December 12th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $82.15.

Comerica Trading Up 3.1 %

NYSE:CMA opened at $44.83 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $5.89 billion, a price-to-earnings ratio of 5.29, a PEG ratio of 1.87 and a beta of 1.20. The firm has a fifty day simple moving average of $69.53 and a two-hundred day simple moving average of $71.00. Comerica has a 12 month low of $29.17 and a 12 month high of $97.52.

Comerica (NYSE:CMA – Get Rating) last posted its quarterly earnings results on Thursday, January 19th. The financial services provider reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. The business had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Comerica had a net margin of 30.72% and a return on equity of 20.75%. During the same period last year, the company posted $1.66 earnings per share. Analysts expect that Comerica will post 9.57 EPS for the current fiscal year.

Insider Transactions at Comerica

In other news, EVP Cassandra M. Mckinney sold 3,262 shares of Comerica stock in a transaction dated Friday, January 27th. The shares were sold at an average price of $72.76, for a total value of $237,343.12. Following the completion of the transaction, the executive vice president now owns 6,825 shares in the company, valued at $496,587. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.76% of the company’s stock.

Hedge Funds Weigh In On Comerica

Several large investors have recently modified their holdings of the business. CWM LLC grew its stake in Comerica by 11.4% during the third quarter. CWM LLC now owns 3,703 shares of the financial services provider’s stock valued at $263,000 after acquiring an additional 378 shares in the last quarter. Trexquant Investment LP purchased a new position in Comerica during the third quarter valued at approximately $3,568,000. Dimensional Fund Advisors LP grew its stake in Comerica by 0.8% during the third quarter. Dimensional Fund Advisors LP now owns 1,928,269 shares of the financial services provider’s stock valued at $137,118,000 after acquiring an additional 15,653 shares in the last quarter. Quantamental Technologies LLC purchased a new position in Comerica during the second quarter valued at approximately $323,000. Finally, Premier Asset Management LLC purchased a new position in Comerica during the second quarter valued at approximately $241,000. Hedge funds and other institutional investors own 81.91% of the company’s stock.

Comerica Company Profile

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Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance, and Other. The Commercial 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.