Rating Alert: Better Rating Was Given to Comerica (NYSE:CMA) By a Broker. Lost “Hold” Rating

November 28, 2016 - By Peter Kolinski

Rating Alert:  Better Rating Was Given to Comerica (NYSE:CMA) By a Broker. Lost

Comerica (NYSE:CMA) Upgrade

Expert analysts at Jefferies’s equity division upped Comerica (NYSE:CMA)‘s stock from a “Hold” to “Buy” on Monday morning.

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 -24.85% below today’s ($61.61) stock price. Comerica Inc has been the topic of 54 analyst reports since July 20, 2015 according to StockzIntelligence Inc. As per Wednesday, July 20, the company rating was maintained by FBR Capital. The rating was downgraded by Stephens to “Equal-Weight” on Wednesday, April 20. On Friday, May 13 the stock rating was downgraded by Wells Fargo to “Underperform”. The stock of Comerica Incorporated (NYSE:CMA) earned “Neutral” rating by Compass Point on Wednesday, July 20. The firm has “Outperform” rating by FBR Capital given on Wednesday, January 20. The stock of Comerica Incorporated (NYSE:CMA) has “Neutral” rating given on Thursday, November 10 by Robert W. Baird. As per Wednesday, April 20, the company rating was maintained by Barclays Capital. BMO Capital Markets maintained Comerica Incorporated (NYSE:CMA) on Monday, October 19 with “Underperform” rating. The stock has “Neutral” rating given by JP Morgan on Tuesday, October 6. The firm earned “Hold” rating on Tuesday, July 21 by Jefferies.

About 516,237 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 $161.88 million for 16.39 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 improved, 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.

Evercore Wealth Mgmt Ltd Company reported 526 shares or 0% of all its holdings. Cornerstone Mngmt Hldgs Limited Company, a New York-based fund reported 37,877 shares. Stifel Fincl has invested 0.01% of its portfolio in Comerica Incorporated (NYSE:CMA). Wolverine Asset Ltd Llc last reported 0.01% of its portfolio in the stock. Teacher Retirement Sys Of Texas has invested 0% of its portfolio in Comerica Incorporated (NYSE:CMA). Raymond James Ser holds 9,527 shares or 0% of its portfolio. Guggenheim Ltd Co owns 639,374 shares or 0.08% of their US portfolio. Teachers Advsrs last reported 0.12% of its portfolio in the stock. Johnson Financial Inc holds 6,611 shares or 0.04% of its portfolio. Brown Advisory holds 0.01% of its portfolio in Comerica Incorporated (NYSE:CMA) for 89,024 shares. Wellington Mgmt Llp holds 0.06% or 5.40M shares in its portfolio. Liberty Mutual Gru Asset Mgmt has invested 0.02% of its portfolio in Comerica Incorporated (NYSE:CMA). Commerzbank Aktiengesellschaft Fi has invested 0% of its portfolio in Comerica Incorporated (NYSE:CMA). Kingdon Mngmt holds 1.14% of its portfolio in Comerica Incorporated (NYSE:CMA) for 505,919 shares. Nomura Asset Management Limited last reported 22,737 shares in the company.

Insider Transactions: Since August 25, 2016, the stock had 0 buys, and 9 insider sales for $630,120 net activity. Another trade for 114 shares valued at $7,074 was made by RITCHIE MICHAEL T on Tuesday, November 22. 96 shares were sold by Love Judith S, worth $5,972. 1,986 shares with value of $101,425 were sold by Carr Muneera S on Friday, October 21. Guilfoile Peter William also sold $6,432 worth of Comerica Incorporated (NYSE:CMA) on Friday, November 18. On Friday, November 18 the insider Burkhart Megan D sold $265,534. The insider OBERMEYER PAUL R sold $105,701. MICHALAK MICHAEL H sold $5,489 worth of stock or 90 shares.

Comerica Incorporated is a financial services company. The company has a market cap of $10.61 billion. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. It has a 25.63 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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