Raymond James analyst Michael Rose maintained a Buy rating on Comerica (CMA) today. The company’s shares closed last Tuesday at $67.30, close to its 52-week high of $73.73.
According to TipRanks.com, Rose is a 4-star analyst with an average return of 9.3% and a 56.3% success rate. Rose covers the Financial sector, focusing on stocks such as American National Bankshares, Atlantic Capital Bancshares, and Pinnacle Financial Partners.
Comerica has an analyst consensus of Hold, with a price target consensus of $72.33, which is a 5.9% upside from current levels. In a report issued on April 12, RBC Capital also maintained a Buy rating on the stock with a $78.00 price target.
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Based on Comerica’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $669 million and net profit of $215 million. In comparison, last year the company earned revenue of $734 million and had a net profit of $269 million.
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Comerica, Inc. engages in the provision of financial services. It operates through the following segments: Business Bank, Retail Bank, Wealth Management, Finance, and Other. The Business Bank segment involves in the middle market businesses, multinational corporations, and governmental 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, foreign exchange management, and loan syndication. The Retail Bank segment includes small business banking and personal financial services, which consist of consumer lending, consumer deposit gathering, and mortgage loan origination. The Wealth Management segment offers fiduciary services, private banking, retirement services, investment management and advisory services, investment banking and brokerage services. The Finance segment comprises corporation’s securities portfolio and asset and liability management activities. The Other category consists of income and expense impact of equity and cash, tax benefits, charges of an unusual or infrequent nature that are not reflective of the normal operations, and miscellaneous other expenses of a corporate nature. The company was founded in 1973 and is headquartered in Dallas, TX.