Rating Action: Is Comerica (NYSE:CMA) Worth Your Time After Jefferies’s Upgrade?

November 28, 2016 - By Louis Casey

Rating Action:  Is Comerica (NYSE:CMA) Worth Your Time After Jefferies's Upgrade?

Comerica (NYSE:CMA) Upgrade

In a research report revealed to clients today, Jefferies upped shares of Comerica (NYSE:CMA) to a Buy rating from Hold rating.

Comerica Incorporated (NYSE:CMA) Ratings Coverage

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 -25.07% below today’s ($61.79) stock price. Comerica Inc has been the topic of 54 analyst reports since July 20, 2015 according to StockzIntelligence Inc. The stock of Comerica Incorporated (NYSE:CMA) earned “Outperform” rating by Raymond James on Monday, May 9. The firm has “Outperform” rating by RBC Capital Markets given on Wednesday, October 19. The firm earned “Neutral” rating on Thursday, May 19 by Goldman Sachs. The company was maintained on Tuesday, July 21 by Jefferies. The company was maintained on Wednesday, February 24 by Deutsche Bank. The firm has “Neutral” rating by Robert W. Baird given on Monday, August 24. The stock has “Neutral” rating given by Sterne Agee CRT on Thursday, August 20. The rating was downgraded by Sandler O’Neill on Monday, November 14 to “Hold”. CLSA upgraded Comerica Incorporated (NYSE:CMA) on Monday, March 14 to “Outperformer” rating. The firm earned “Underperform” rating on Wednesday, June 29 by Bank of America.

About 796,180 shares traded hands. Comerica Incorporated (NYSE:CMA) has risen 42.31% since April 25, 2016 and is uptrending. It has outperformed by 36.29% the S&P500.

Analysts await Comerica Incorporated (NYSE:CMA) to report earnings on January, 17. They expect $0.94 earnings per share, up 32.39% or $0.23 from last year’s $0.71 per share. CMA’s profit will be $161.86M for 16.43 P/E if the $0.94 EPS becomes a reality. After $0.92 actual earnings per share reported by Comerica Incorporated for the previous quarter, Wall Street now forecasts 2.17% EPS growth.

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.

Ameriprise Incorporated, a Minnesota-based fund reported 128,780 shares. Millennium owns 1.46 million shares or 0.14% of their US portfolio. Panagora Asset Mgmt holds 0.01% or 42,431 shares in its portfolio. Tci Wealth accumulated 0% or 106 shares. The Illinois-based Trust Department Mb Bancorp N A has invested 0.01% in Comerica Incorporated (NYSE:CMA). Azimuth Cap Mngmt Ltd Liability Co holds 0.13% of its portfolio in Comerica Incorporated (NYSE:CMA) for 35,601 shares. First Manhattan holds 0% or 3,786 shares in its portfolio. Rs Ltd Com last reported 0.37% of its portfolio in the stock. First Mercantile Trust last reported 9,700 shares in the company. Ontario Teachers Pension Plan Board last reported 0.01% of its portfolio in the stock. Clarkston Ptnrs Llc accumulated 9,480 shares or 0.02% of the stock. Comml Bank Of Montreal Can, a Ontario – Canada-based fund reported 106,654 shares. Finance Limited Liability Com has 6,365 shares for 0.07% of their US portfolio. Capital One Association has 0.06% invested in the company for 17,728 shares. Cetera Advisors Llc has 0.03% invested in the company for 8,481 shares.

Insider Transactions: Since August 25, 2016, the stock had 0 buys, and 9 selling transactions for $630,120 net activity. Carr Muneera S sold $101,425 worth of stock or 1,986 shares. Another trade for 2,302 shares valued at $105,701 was sold by OBERMEYER PAUL R. Burkhart Megan D sold $265,534 worth of stock or 4,373 shares. Shares for $6,432 were sold by Guilfoile Peter William on Friday, November 18. Shares for $120,226 were sold by RITCHIE MICHAEL T. MICHALAK MICHAEL H sold $5,489 worth of stock or 90 shares. $5,972 worth of Comerica Incorporated (NYSE:CMA) was sold by Love Judith S on Wednesday, November 23.

Comerica Incorporated is a financial services company. The company has a market cap of $10.64 billion. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. It has a 25.7 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.”

CMA Company Profile

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.

Another recent and important Comerica Incorporated (NYSE:CMA) news was published by Prnewswire.com which published an article titled: “Michael E. Collins Appointed to the Comerica Incorporated Board of Directors” on November 08, 2016.

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