November 25, 2016 - By Peter Erickson
In consideration of deal Michael Ritchie made he is in the spotlight today. The Executive Vice President of Comerica Inc and an insider, unloaded 114 shares worth $7,074 US Dollars. The average price was $62.1 per share. Michael is trying to quietly decrease his company’s share, same as he did in the last 30 days. He unloaded another 2,362 shares worth $120,226 USD. The sale was revealed in a filing that was filed with the SEC on 25-11-2016, which is available for public access here. Now, Michael Ritchie owns 19,268 shares or 0.01% of Comerica Inc’s market cap.
Out of 23 analysts covering Comerica Inc (NYSE:CMA), 3 rate it a “Buy”, 3 “Sell”, while 17 “Hold”. This means 13% are positive. $56 is the highest target while $34 is the lowest. The $46.30 average target is -25.51% below today’s ($62.16) stock price. Comerica Inc has been the topic of 54 analyst reports since July 20, 2015 according to StockzIntelligence Inc. Jefferies maintained the shares of CMA in a report on Tuesday, July 21 with “Hold” rating. The firm earned “Equal-Weight” rating on Wednesday, April 20 by Stephens. The company was maintained on Wednesday, April 20 by Barclays Capital. The firm earned “Neutral” rating on Tuesday, October 6 by JP Morgan. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, January 20. The rating was downgraded by Bank of America on Wednesday, June 29 to “Underperform”. The rating was downgraded by Sandler O’Neill on Monday, November 14 to “Hold”. The firm earned “Outperform” rating on Thursday, January 7 by Robert W. Baird. On Thursday, December 17 the stock rating was downgraded by Goldman Sachs to “Sell”. FBR Capital downgraded Comerica Incorporated (NYSE:CMA) on Tuesday, October 11 to “Mkt Perform” rating.
Insitutional Activity: The institutional sentiment increased to 1.13 in Q2 2016. Its up 0.11, from 1.02 in 2016Q1. The ratio is positive, as 31 funds sold all Comerica Incorporated shares owned while 125 reduced positions. 43 funds bought stakes while 116 increased positions. They now own 144.79 million shares or 4.93% less from 152.29 million shares in 2016Q1.
Citadel Advsr Ltd Liability Com, a Illinois-based fund reported 225,270 shares. Moreover, Savant Limited Com has 0.09% invested in Comerica Incorporated (NYSE:CMA) for 7,462 shares. The Colorado-based Centurylink Invest Mngmt has invested 0.25% in Comerica Incorporated (NYSE:CMA). Quantitative Limited Liability Corp, a Virginia-based fund reported 74,800 shares. The Maryland-based Lockheed Martin Invest Company has invested 0.67% in Comerica Incorporated (NYSE:CMA). Deroy Devereaux Private Counsel holds 1.79% of its portfolio in Comerica Incorporated (NYSE:CMA) for 326,800 shares. Exxonmobil Investment Management Tx last reported 0.04% of its portfolio in the stock. Ledyard Bancshares holds 0.19% of its portfolio in Comerica Incorporated (NYSE:CMA) for 26,000 shares. Arizona State Retirement System reported 42,999 shares or 0.02% of all its holdings. Brown Advisory accumulated 0.01% or 89,024 shares. Pinnacle Advisory Grp Inc Incorporated holds 5,933 shares or 0.02% of its portfolio. Blackrock Gru Limited holds 0.03% or 1.35M shares in its portfolio. Moreover, State Bank Of Montreal Can has 0.01% invested in Comerica Incorporated (NYSE:CMA) for 106,654 shares. Valley Advisers owns 73 shares or 0% of their US portfolio. The California-based Rice Hall James And Associate Ltd has invested 0.1% in Comerica Incorporated (NYSE:CMA).
Insider Transactions: Since August 25, 2016, the stock had 0 buys, and 6 sales for $604,807 net activity. OBERMEYER PAUL R also sold $105,701 worth of Comerica Incorporated (NYSE:CMA) shares. Shares for $265,534 were sold by Burkhart Megan D. Shares for $120,226 were sold by RITCHIE MICHAEL T. $6,432 worth of Comerica Incorporated (NYSE:CMA) was sold by Guilfoile Peter William. Shares for $101,425 were sold by Carr Muneera S on Friday, October 21. On Friday, November 18 MICHALAK MICHAEL H sold $5,489 worth of the stock or 90 shares.
The stock decreased 0.02% or $0.01 during the last trading session, hitting $62.16. About 466,537 shares traded hands. Comerica Incorporated (NYSE:CMA) has risen 41.23% since April 22, 2016 and is uptrending. It has outperformed by 35.82% the S&P500.
Comerica Incorporated is a financial services company. The company has a market cap of $10.82 billion. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. It has a 25.86 P/E ratio. Comerica has its activities in three business divisions: the Business Bank, the Retail Bank and Wealth Management.
According to Zacks Investment Research, “Comerica Inc. is a registered bank holding company. Its operations made up of three lines of business: Business Bank, Individual Bank and Investment Bank. The Business Bank is comprised of middle market lending, asset-based lending, large corporate banking, treasury management and international financial services. The Individual Bank includes consumer lending, consumer deposit gathering, mortgage loan origination and servicing, small business banking and private banking. The Investment Bank is responsible for the sale of mutual fund and annuity products.”
Analysts await Comerica Incorporated (NYSE:CMA) to report earnings on January, 17. They expect $0.94 EPS, up 32.39% or $0.23 from last year’s $0.71 per share. CMA’s profit will be $163.62 million for 16.53 P/E if the $0.94 EPS becomes a reality. After $0.92 actual EPS reported by Comerica Incorporated for the previous quarter, Wall Street now forecasts 2.17% EPS growth.
More news for Comerica Incorporated (NYSE:CMA) were recently published by: Prnewswire.com, which released: “Michael E. Collins Appointed to the Comerica Incorporated Board of Directors” on November 08, 2016. Nasdaq.com‘s article titled: “Why Comerica (CMA) Is an Attractive Pick Right Now” and published on November 25, 2016 is yet another important article.
Comerica Incorporated (Comerica), incorporated on November 13, 1972, is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. Comerica has its activities in three business divisions: the Business Bank, the Retail Bank and Wealth Management. In addition to the three business divisions, it also operates in the Finance segment. The Firm offers a range of loans, which include commercial loans, real estate construction loans, commercial mortgage loans, lease financing, international loans, residential mortgage loans and consumer loans. Comerica owns directly or indirectly over two active banking and over 40 non-banking subsidiaries. Comerica has total deposits of approximately $59.9 billion and total loans of approximately $49.1 billion. Comerica operates in three geographic markets, which include Texas, California, and Michigan, as well as in Arizona and Florida, with select businesses operating in several other states, and in Canada and Mexico.
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