Rating Coverage: Comerica (CMA)’s Is Reaching An Inflection Point; Jefferies Upgrades It

November 28, 2016 - By olga

Rating Coverage:  Comerica (CMA)'s Is Reaching An Inflection Point; Jefferies Upgrades It

Comerica (CMA) Upgrade

In a analysts report shared with investors on Monday, 28 November, Jefferies stated it was upgrading Comerica (CMA) stock from a “Hold” to a “Buy”.

Comerica Incorporated (NYSE:CMA) Ratings Coverage

Out of 6 analysts covering Comerica (CMA), 2 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 33% are positive. $56.0 is the highest target while $49.0 is the lowest. The $52.33 average target is -15.16% below today’s ($61.68) stock price. Comerica has been the topic of 6 analyst reports since September 16, 2016 according to StockzIntelligence Inc. The rating was maintained by RBC Capital Markets with “Outperform” on Wednesday, October 19. The firm has “Buy” rating given on Friday, September 16 by Goldman Sachs. The rating was downgraded by Sandler O’Neill on Monday, November 14 to “Hold”. The firm earned “Mkt Perform” rating on Tuesday, October 11 by FBR Capital. The stock of Comerica Incorporated (NYSE:CMA) has “Neutral” rating given on Friday, October 7 by Wedbush. The firm has “Neutral” rating given on Thursday, November 10 by Robert W. Baird.

About 605,076 shares traded hands. Comerica Incorporated (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 $161.97M for 16.41 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.

Moreover, Jacobs Levy Equity Mngmt has 0.32% invested in Comerica Incorporated (NYSE:CMA) for 378,630 shares. New Mexico Educational Retirement Board accumulated 0.04% or 20,114 shares. Third Avenue Ltd Liability last reported 1.95M shares in the company. Old Mutual Customised Solutions (Proprietary) Ltd last reported 6,500 shares in the company. Metropolitan Life Ins Ny reported 91,292 shares or 0.03% of all its holdings. Sumitomo Mitsui Asset Communication Limited holds 0.02% of its portfolio in Comerica Incorporated (NYSE:CMA) for 13,812 shares. Schroder Invest Grp Inc reported 3,500 shares or 0% of all its holdings. King Luther Capital Mngmt Corporation, a Texas-based fund reported 2.96M shares. Guardian Life Ins Com Of America holds 0% or 654 shares in its portfolio. Hanlon Inv Inc has 96,968 shares for 0.35% of their US portfolio. Ameriprise Inc accumulated 0% or 128,780 shares. Point72 Asset Limited Partnership last reported 33,681 shares in the company. Prns Management Llc has 0.07% invested in the company for 6,365 shares. The Delaware-based Blackrock Limited Liability Company has invested 0.01% in Comerica Incorporated (NYSE:CMA). Basswood Capital Mngmt Ltd Limited Liability Company last reported 1.19% of its portfolio in the stock.

Insider Transactions: Since August 25, 2016, the stock had 0 insider purchases, and 9 insider sales for $630,120 net activity. $265,534 worth of Comerica Incorporated (NYSE:CMA) was sold by Burkhart Megan D. MICHALAK MICHAEL H also sold $5,489 worth of Comerica Incorporated (NYSE:CMA) shares. Another trade for 2,302 shares valued at $105,701 was sold by OBERMEYER PAUL R. 106 shares with value of $6,432 were sold by Guilfoile Peter William on Friday, November 18. 2,362 shares with value of $120,226 were sold by RITCHIE MICHAEL T on Wednesday, November 2. $101,425 worth of shares were sold by Carr Muneera S on Friday, October 21. On Wednesday, November 23 the insider Love Judith S sold $5,972.

Comerica Incorporated is a financial services company. The company has a market cap of $10.62 billion. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. It has a 25.66 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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