Important Rating: Keefe Bruyette & Woods Gives Comerica (NYSE:CMA) Higher Rating. What Is Next?

November 29, 2016 - By Peter Kolinski

Important Rating:  Keefe Bruyette & Woods Gives Comerica (NYSE:CMA) Higher Rating. What Is Next?

Comerica (NYSE:CMA) Upgrade

In a a note sent to clients and investors on Tuesday morning, analysts at Keefe Bruyette & Woods’s equity division boosted Comerica (NYSE:CMA)‘s stock from a “Market Perform” to “Outperform”.

Comerica Incorporated (NYSE:CMA) Ratings Coverage

Out of 23 analysts covering Comerica Inc (NYSE:CMA), 4 rate it a “Buy”, 3 “Sell”, while 16 “Hold”. This means 17% are positive. $56 is the highest target while $34 is the lowest. The $46.30 average target is -25.36% below today’s ($62.03) stock price. Comerica Inc has been the topic of 55 analyst reports since July 20, 2015 according to StockzIntelligence Inc. The stock of Comerica Incorporated (NYSE:CMA) has “Equal-Weight” rating given on Wednesday, April 20 by Stephens. The company was initiated on Thursday, August 20 by Sterne Agee CRT. FBR Capital upgraded Comerica Incorporated (NYSE:CMA) rating on Wednesday, January 20. FBR Capital has “Outperform” rating and $48 price target. On Wednesday, July 20 the stock rating was maintained by FBR Capital with “Outperform”. The stock of Comerica Incorporated (NYSE:CMA) has “Neutral” rating given on Thursday, November 10 by Robert W. Baird. Goldman Sachs upgraded the shares of CMA in a report on Thursday, May 19 to “Neutral” rating. The stock of Comerica Incorporated (NYSE:CMA) has “Neutral” rating given on Monday, December 28 by Piper Jaffray. The company was maintained on Monday, October 19 by BMO Capital Markets. The stock of Comerica Incorporated (NYSE:CMA) has “Market Perform” rating given on Wednesday, April 20 by Wood. JP Morgan maintained it with “Neutral” rating and $42.50 target price in Wednesday, April 20 report.

About 974,586 shares traded hands. Comerica Incorporated (NYSE:CMA) has risen 35.45% since April 26, 2016 and is uptrending. It has outperformed by 30.19% 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 $159.27M for 16.50 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.

Peak6 L P, a Illinois-based fund reported 159,820 shares. Forest Hill Capital Limited Liability Company holds 3.86% or 699,413 shares in its portfolio. Amica Mutual Insur Comm has 8,331 shares for 0.03% of their US portfolio. Rs Ltd Liability Corporation accumulated 881,365 shares or 0.37% of the stock. Pictet Asset Ltd reported 90,076 shares or 0.02% of all its holdings. Daiwa Grp Incorporated accumulated 4,300 shares or 0% of the stock. Commercial Bank Of Ny Mellon Corporation accumulated 2.28 million shares or 0.03% of the stock. Credit Agricole S A, a France-based fund reported 365,157 shares. Cubist Systematic Strategies Limited has 0.02% invested in the company for 9,501 shares. Moreover, Arizona State Retirement System has 0.02% invested in Comerica Incorporated (NYSE:CMA) for 42,999 shares. Tower Bridge Advsr accumulated 0% or 12,515 shares. The Ohio-based Keybank National Association Oh has invested 0% in Comerica Incorporated (NYSE:CMA). Johnson Group Inc holds 0.04% or 6,611 shares in its portfolio. Fjarde Ap owns 41,643 shares or 0.04% of their US portfolio. Winton Cap Grp holds 89,034 shares or 0.06% of its portfolio.

Insider Transactions: Since August 25, 2016, the stock had 0 buys, and 9 insider sales for $630,120 net activity. Shares for $105,701 were sold by OBERMEYER PAUL R on Thursday, August 25. On Friday, November 18 MICHALAK MICHAEL H sold $5,489 worth of the stock or 90 shares. RITCHIE MICHAEL T also sold $7,074 worth of Comerica Incorporated (NYSE:CMA) on Tuesday, November 22. $5,972 worth of Comerica Incorporated (NYSE:CMA) was sold by Love Judith S. Carr Muneera S sold $101,425 worth of Comerica Incorporated (NYSE:CMA) on Friday, October 21. On Friday, November 18 Guilfoile Peter William sold $6,432 worth of the stock or 106 shares. 4,373 Comerica Incorporated (NYSE:CMA) shares with value of $265,534 were sold by Burkhart Megan D.

Comerica Incorporated is a financial services company. The company has a market cap of $10.51 billion. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. It has a 25.8 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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