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Comerica (CMA) Gets a Hold Rating from Robert W. Baird

Robert W. Baird analyst David George maintained a Hold rating on Comerica (CMAResearch Report) on January 3 and set a price target of $78.00. The company’s shares closed last Thursday at $100.18, close to its 52-week high of $102.09.

According to TipRanks.com, George is a 5-star analyst with an average return of 13.9% and a 74.2% success rate. George covers the Financial sector, focusing on stocks such as Zions Bancorporation National Association, Capital One Financial, and Huntington Bancshares.

Comerica has an analyst consensus of Hold, with a price target consensus of $101.41, representing a 1.9% upside. In a report issued on December 21, Compass Point also upgraded the stock to Hold with a $87.00 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 $684 million and net profit of $228 million. In comparison, last year the company earned revenue of $669 million and had a net profit of $198 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.

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