November 28, 2016 - By Adrian Mccoy
Comerica Inc (NYSE:CMA)‘s stock was boosted to Buy by stock analysts at Jefferies & Co. CMA’s Hold rating is no longer valid.
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 -24.81% below today’s ($61.58) stock price. Comerica Inc has been the topic of 54 analyst reports since July 20, 2015 according to StockzIntelligence Inc. CLSA upgraded the shares of CMA in a report on Monday, March 14 to “Outperformer” rating. The stock of Comerica Incorporated (NYSE:CMA) has “Outperform” rating given on Monday, May 9 by Raymond James. The stock of Comerica Incorporated (NYSE:CMA) earned “Neutral” rating by Wedbush on Friday, October 7. The stock has “Underperform” rating given by Wells Fargo on Friday, May 13. JP Morgan maintained Comerica Incorporated (NYSE:CMA) on Wednesday, April 20 with “Neutral” rating. BMO Capital Markets maintained the stock with “Underperform” rating in Monday, October 19 report. The rating was maintained by Jefferies on Tuesday, July 21 with “Hold”. The firm has “Underperform” rating by Bank of America given on Wednesday, June 29. On Thursday, January 7 the stock rating was upgraded by Robert W. Baird to “Outperform”. The stock has “Outperform” rating given by RBC Capital Markets on Wednesday, January 20.
About 1.04M 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 $161.86 million for 16.37 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 2016 Q2. 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.
Fmr Ltd Company holds 0.08% of its portfolio in Comerica Incorporated (NYSE:CMA) for 14.63 million shares. Ny State Common Retirement Fund, a New York-based fund reported 493,565 shares. Amp Capital Ltd last reported 0.01% of its portfolio in the stock. Basswood Cap Mngmt Ltd Liability Com owns 500,868 shares or 1.19% of their US portfolio. Alliancebernstein Limited Partnership has 0.07% invested in the company for 1.89 million shares. Savant Cap Limited Liability Company holds 0.09% of its portfolio in Comerica Incorporated (NYSE:CMA) for 7,462 shares. Amer Registered Inv Advisor last reported 5,000 shares in the company. Carlson Cap Limited Partnership, a Texas-based fund reported 608,669 shares. Moreover, Gamco Invsts Incorporated Et Al has 0.05% invested in Comerica Incorporated (NYSE:CMA) for 175,100 shares. Shinko Asset Mgmt Limited has 526 shares for 0% of their US portfolio. Pinebridge Invs L P accumulated 8,623 shares or 0.02% of the stock. Moreover, Amica Mutual has 0.03% invested in Comerica Incorporated (NYSE:CMA) for 8,331 shares. The Switzerland-based Gam Ag has invested 0% in Comerica Incorporated (NYSE:CMA). Hgk Asset Mgmt reported 5,295 shares or 0.03% of all its holdings. Century reported 3.88M shares or 0.18% of all its holdings.
Insider Transactions: Since August 25, 2016, the stock had 0 buys, and 9 selling transactions for $630,120 net activity. RITCHIE MICHAEL T also sold $120,226 worth of Comerica Incorporated (NYSE:CMA) on Wednesday, November 2. Another trade for 106 shares valued at $6,432 was sold by Guilfoile Peter William. OBERMEYER PAUL R had sold 198 shares worth $12,267 on Tuesday, November 22. On Wednesday, November 23 Love Judith S sold $5,972 worth of the stock or 96 shares. Carr Muneera S sold 1,986 shares worth $101,425. 90 shares with value of $5,489 were sold by MICHALAK MICHAEL H on Friday, November 18. Burkhart Megan D also sold $265,534 worth of Comerica Incorporated (NYSE:CMA) on Friday, November 18.
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 25.61 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.”
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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By Adrian Mccoy