November 30, 2016 - By Darrin Black
They currently have a $61 target price on Comerica (NYSE:CMA). Wedbush’s target would suggest a potential downside of -1.21% from the company’s current stock price. This was released in analysts report on 30 November.
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. The stock of Comerica Incorporated (NYSE:CMA) has “Underperform” rating given on Wednesday, June 29 by Bank of America. The rating was upgraded by Goldman Sachs on Friday, September 16 to “Buy”. As per Friday, October 7, the company rating was initiated by Wedbush. The firm has “Mkt Perform” rating given on Tuesday, October 11 by FBR Capital. The firm earned “Market Perform” rating on Wednesday, April 20 by Wood. The rating was initiated by Sterne Agee CRT on Thursday, August 20 with “Neutral”. The rating was downgraded by Zacks to “Hold” on Wednesday, August 26. The firm has “Neutral” rating by Robert W. Baird given on Monday, August 24. As per Wednesday, January 20, the company rating was upgraded by FBR Capital. On Monday, March 14 the stock rating was upgraded by CLSA to “Outperformer”.
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 EPS, 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 EPS 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.
The Ohio-based Huntington Bank has invested 0.01% in Comerica Incorporated (NYSE:CMA). Dynamic Cap Mgmt Limited owns 10,029 shares or 0.05% of their US portfolio. Barclays Pcl last reported 0.03% of its portfolio in the stock. New Mexico Educational Retirement Board holds 20,114 shares or 0.04% of its portfolio. Commonwealth Of Pennsylvania School Empls Retrmt holds 14,023 shares or 0.01% of its portfolio. M&T Bancshares has 12,957 shares for 0% of their US portfolio. Fmr Ltd Liability has invested 0.08% of its portfolio in Comerica Incorporated (NYSE:CMA). The New York-based Jpmorgan Chase Co has invested 0.05% in Comerica Incorporated (NYSE:CMA). Sumitomo Mitsui Tru has 505,964 shares for 0.04% of their US portfolio. Argent, a Texas-based fund reported 5,070 shares. Eagle Glob Advisors Ltd Liability Corp last reported 5,827 shares in the company. Westport Resources Inc accumulated 0.02% or 1,225 shares. Stifel Fincl Corporation has 77,991 shares for 0.01% of their US portfolio. Gateway Investment Advisers Limited Liability has 49,691 shares for 0.02% of their US portfolio. Finemark Commercial Bank holds 0.01% of its portfolio in Comerica Incorporated (NYSE:CMA) for 3,021 shares.
Insider Transactions: Since August 25, 2016, the stock had 0 insider buys, and 9 selling transactions for $630,120 net activity. $5,489 worth of Comerica Incorporated (NYSE:CMA) was sold by MICHALAK MICHAEL H. Burkhart Megan D sold $265,534 worth of stock. Love Judith S sold $5,972 worth of Comerica Incorporated (NYSE:CMA) on Wednesday, November 23. On Thursday, August 25 OBERMEYER PAUL R sold $105,701 worth of the stock or 2,302 shares. RITCHIE MICHAEL T sold $120,226 worth of Comerica Incorporated (NYSE:CMA) on Wednesday, November 2. 106 shares were sold by Guilfoile Peter William, worth $6,432 on Friday, November 18. Carr Muneera S had sold 1,986 shares worth $101,425 on Friday, October 21.
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.”
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 Darrin Black