Comerica (NYSE:CMA – Get Rating) had its price objective lowered by research analysts at Raymond James from $85.00 to $84.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price objective suggests a potential upside of 21.51% from the company’s current price.
CMA has been the subject of several other reports. The Goldman Sachs Group decreased their price objective on shares of Comerica from $94.00 to $84.00 and set a “neutral” rating for the company in a report on Monday, October 3rd. Citigroup decreased their price objective on shares of Comerica from $90.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, December 6th. StockNews.com began coverage on shares of Comerica in a report on Wednesday, October 12th. They set a “hold” rating for the company. Keefe, Bruyette & Woods lowered shares of Comerica from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $105.00 to $80.00 in a report on Monday, December 12th. Finally, Barclays decreased their price objective on shares of Comerica from $87.00 to $85.00 and set an “underweight” rating for the company in a report on Tuesday, January 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Comerica currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.74.
Comerica Price Performance
CMA opened at $69.13 on Friday. The company has a fifty day simple moving average of $67.91 and a 200 day simple moving average of $73.37. The firm has a market cap of $9.05 billion, a price-to-earnings ratio of 9.16, a PEG ratio of 1.77 and a beta of 1.18. Comerica has a twelve month low of $62.83 and a twelve month high of $102.09. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65.
Institutional Trading of Comerica
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Miracle Mile Advisors LLC raised its holdings in shares of Comerica by 8.2% in the 4th quarter. Miracle Mile Advisors LLC now owns 14,554 shares of the financial services provider’s stock worth $973,000 after purchasing an additional 1,105 shares in the last quarter. Intrua Financial LLC bought a new stake in shares of Comerica in the 4th quarter worth approximately $215,000. Kovitz Investment Group Partners LLC raised its holdings in shares of Comerica by 0.9% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 101,599 shares of the financial services provider’s stock worth $6,792,000 after purchasing an additional 875 shares in the last quarter. Sequoia Financial Advisors LLC raised its holdings in shares of Comerica by 49.1% in the 4th quarter. Sequoia Financial Advisors LLC now owns 108,788 shares of the financial services provider’s stock worth $7,273,000 after purchasing an additional 35,818 shares in the last quarter. Finally, Diversified Trust Co bought a new stake in shares of Comerica in the 4th quarter worth approximately $273,000. 81.91% of the stock is currently owned by institutional investors.
Comerica Company Profile
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. 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 for small and middle market businesses, multinational corporations, and governmental entities.
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