Rating Change: Is Comerica Inc (NYSE:CMA) Worth Your Time After KBW’s Upgrade?

November 30, 2016 - By Peter Kolinski

Rating Change:  Is Comerica Inc (NYSE:CMA) Worth Your Time After KBW's Upgrade?

Comerica Inc (NYSE:CMA) Upgrade

Comerica Inc (NYSE:CMA)‘s stock was increased to “Outperform” by investment analysts at KBW. CMA’s “Mkt Perform” rating is no longer valid.

Comerica Incorporated (NYSE:CMA) Ratings Coverage

Out of 24 analysts covering Comerica Inc (NYSE:CMA), 5 rate it a “Buy”, 3 “Sell”, while 16 “Hold”. This means 21% are positive. $56 is the highest target while $34 is the lowest. The $46.30 average target is -25.02% below today’s ($61.75) stock price. Comerica Inc has been the topic of 56 analyst reports since July 20, 2015 according to StockzIntelligence Inc. As per Thursday, May 19, the company rating was upgraded by Goldman Sachs. Sterne Agee CRT initiated the shares of CMA in a report on Thursday, August 20 with “Neutral” rating. Citigroup maintained it with “Neutral” rating and $46 target price in Wednesday, July 20 report. The stock of Comerica Incorporated (NYSE:CMA) earned “Hold” rating by Zacks on Wednesday, August 26. On Thursday, November 10 the stock rating was downgraded by Robert W. Baird to “Neutral”. The stock of Comerica Incorporated (NYSE:CMA) earned “Outperform” rating by RBC Capital Markets on Wednesday, October 19. Stephens downgraded Comerica Incorporated (NYSE:CMA) on Wednesday, April 20 to “Equal-Weight” rating. The stock has “Underperform” rating given by Wells Fargo on Friday, May 13. On Tuesday, January 12 the stock rating was downgraded by Bank of America to “Underperform”. The rating was upgraded by Wells Fargo on Friday, July 8 to “Market Perform”.

The stock increased 1.01% or $0.62 during the last trading session, hitting $61.75. Comerica Incorporated (NYSE:CMA) has risen 35.62% since April 27, 2016 and is uptrending. It has outperformed by 30.40% 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 $159.23M for 16.42 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.

Mizuho Asset Mgmt Coltd holds 2,240 shares or 0.02% of its portfolio. Meyer Handelman Com accumulated 0.04% or 19,450 shares. Liberty Mutual Grp Asset Mgmt Inc holds 0.02% or 11,305 shares in its portfolio. Dimensional Fund Advisors L P has 0.02% invested in the company for 992,577 shares. Argent Tru reported 5,070 shares or 0.07% of all its holdings. World Asset Mgmt Inc holds 0.01% of its portfolio in Comerica Incorporated (NYSE:CMA) for 8,722 shares. California State Teachers Retirement Systems reported 380,041 shares or 0.03% of all its holdings. The Quebec – Canada-based Sector Pension Invest Board has invested 0.02% in Comerica Incorporated (NYSE:CMA). Teachers Retirement Of The State Of Kentucky has invested 0.01% of its portfolio in Comerica Incorporated (NYSE:CMA). Blackrock Japan owns 215,729 shares or 0.03% of their US portfolio. Nordea Invest Mngmt holds 6,084 shares or 0% of its portfolio. Moreover, Standard Life Ltd has 0.21% invested in Comerica Incorporated (NYSE:CMA) for 1.15 million shares. Blackrock Fund Advsrs last reported 0.03% of its portfolio in the stock. Westpac Banking last reported 0% of its portfolio in the stock. Rs Investment Management Communication Ltd Company owns 881,365 shares or 0.37% of their US portfolio.

Insider Transactions: Since August 25, 2016, the stock had 0 buys, and 9 insider sales for $630,120 net activity. The insider MICHALAK MICHAEL H sold 90 shares worth $5,489. The insider Burkhart Megan D sold $265,534. OBERMEYER PAUL R also sold $105,701 worth of Comerica Incorporated (NYSE:CMA) shares. Another trade for 2,362 shares valued at $120,226 was made by RITCHIE MICHAEL T on Wednesday, November 2. Another trade for 1,986 shares valued at $101,425 was made by Carr Muneera S on Friday, October 21. 96 shares with value of $5,972 were sold by Love Judith S on Wednesday, November 23. $6,432 worth of Comerica Incorporated (NYSE:CMA) was sold by Guilfoile Peter William.

Comerica Incorporated is a financial services company. The company has a market cap of $10.46 billion. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. It has a 25.68 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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