Rating To Observe: Will Keefe Bruyette Upgrade Harm Comerica (NYSE:CMA) Stock Price Today?

November 29, 2016 - By Peter Erickson

Rating To Observe:  Will Keefe Bruyette Upgrade Harm Comerica (NYSE:CMA) Stock Price Today?

Comerica (NYSE:CMA) Upgrade

Keefe Bruyette boosted shares of Comerica (NYSE:CMA) from a “Mkt Perform” rating to “Outperform” rating in a analysts report shared with investors on Tuesday, 29 November.

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 -25.48% below today’s ($62.13) stock price. Comerica Inc has been the topic of 55 analyst reports since July 20, 2015 according to StockzIntelligence Inc. The stock has “Underperform” rating given by Bank of America on Tuesday, January 12. On Thursday, April 21 the stock rating was upgraded by Bank of America to “Neutral”. Barclays Capital maintained it with “Underweight” rating and $45 target price in Thursday, September 15 report. As per Wednesday, April 20, the company rating was maintained by JP Morgan. As per Tuesday, October 6, the company rating was downgraded by JP Morgan. As per Monday, March 14, the company rating was upgraded by CLSA. RBC Capital Markets maintained Comerica Incorporated (NYSE:CMA) rating on Wednesday, July 20. RBC Capital Markets has “Outperform” rating and $49 price target. The stock has “Neutral” rating given by Sterne Agee CRT on Thursday, August 20. The company was downgraded on Thursday, November 10 by Robert W. Baird. The stock of Comerica Incorporated (NYSE:CMA) earned “Neutral” rating by Compass Point on Wednesday, July 20.

About 552,656 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 $159.31 million for 16.52 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 increased, 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.

The Switzerland-based Gam Ag has invested 0% in Comerica Incorporated (NYSE:CMA). The New York-based Pzena Investment Mngmt Ltd Liability Corporation has invested 0.63% in Comerica Incorporated (NYSE:CMA). Canada Pension Plan Investment Board owns 46,009 shares or 0.01% of their US portfolio. X Mgmt Co Limited Liability Corporation holds 0.01% of its portfolio in Comerica Incorporated (NYSE:CMA) for 2,862 shares. Moreover, Creative Planning has 0% invested in Comerica Incorporated (NYSE:CMA) for 1,036 shares. Moreover, Cambridge Invest Research Advisors has 0.01% invested in Comerica Incorporated (NYSE:CMA) for 5,998 shares. Metropolitan Life Insurance Ny, a New York-based fund reported 91,292 shares. First Republic Investment Mngmt holds 0% of its portfolio in Comerica Incorporated (NYSE:CMA) for 10,743 shares. Advantus Cap Management accumulated 0.02% or 16,929 shares. Salzhauer Michael owns 11,647 shares or 0.39% of their US portfolio. Great West Life Assurance Can has 0.02% invested in the company for 120,605 shares. The Virginia-based Quantitative Investment Lc has invested 0.14% in Comerica Incorporated (NYSE:CMA). The Ohio-based Huntington Bancshares has invested 0.01% in Comerica Incorporated (NYSE:CMA). Ontario Teachers Pension Plan Board accumulated 0.01% or 15,899 shares. Alliancebernstein Lp owns 1.89 million shares or 0.07% of their US portfolio.

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

Comerica Incorporated is a financial services company. The company has a market cap of $10.53 billion. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. It has a 25.84 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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