Stock On Watch: Comerica Incorporated on Focus After Trading At 52-Week Highs

Stock On Watch: Comerica Incorporated on Focus After Trading At 52 Week Highs

The stock of Comerica Incorporated (NYSE:CMA) hit a new 52-week high and has $67.23 target or 37.00% above today’s $49.07 share price. The 9 months bullish chart indicates low risk for the $8.62 billion company. The 1-year high was reported on Oct, 5 by If the $67.23 price target is reached, the company will be worth $3.19B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 147,649 shares traded hands. Comerica Incorporated (NYSE:CMA) has risen 33.75% since March 2, 2016 and is uptrending. It has outperformed by 25.49% the S&P500.

Analysts await Comerica Incorporated (NYSE:CMA) to report earnings on October, 21. They expect $0.78 EPS, up 5.41% or $0.04 from last year’s $0.74 per share. CMA’s profit will be $137.02 million for 15.73 P/E if the $0.78 EPS becomes a reality. After $0.77 actual EPS reported by Comerica Incorporated for the previous quarter, Wall Street now forecasts 1.30% EPS growth.

Comerica Incorporated (NYSE:CMA) Ratings Coverage

Out of 21 analysts covering Comerica Inc (NYSE:CMA), 5 rate it a “Buy”, 3 “Sell”, while 13 “Hold”. This means 24% are positive. Comerica Inc has been the topic of 48 analyst reports since July 20, 2015 according to StockzIntelligence Inc. The firm has “Underweight” rating by Barclays Capital given on Wednesday, April 20. The rating was initiated by Sterne Agee CRT with “Neutral” on Thursday, August 20. The firm has “Underperform” rating by Bank of America given on Wednesday, June 29. The stock of Comerica Incorporated (NYSE:CMA) earned “Outperform” rating by FBR Capital on Wednesday, January 20. The stock of Comerica Incorporated (NYSE:CMA) earned “Neutral” rating by Goldman Sachs on Thursday, May 19. Zacks downgraded Comerica Incorporated (NYSE:CMA) on Wednesday, August 26 to “Hold” rating. As per Monday, March 14, the company rating was upgraded by CLSA. BMO Capital Markets maintained Comerica Incorporated (NYSE:CMA) rating on Monday, October 19. BMO Capital Markets has “Underperform” rating and $42 price target. The company was upgraded on Friday, July 8 by Wells Fargo. The firm has “Underweight” rating by Barclays Capital given on Thursday, September 15.

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.”

Insitutional Activity: The institutional sentiment increased to 1.02 in Q2 2016. Its up 0.19, from 0.83 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.
Bokf Na last reported 33,275 shares in the company. M&T Fincl Bank Corp last reported 12,957 shares in the company. Principal Financial Gru holds 256,341 shares or 0.01% of its portfolio. Citadel Ltd Liability Corp accumulated 225,270 shares or 0.01% of the stock. Twin Tree Management Ltd Partnership holds 0.01% of its portfolio in Comerica Incorporated (NYSE:CMA) for 11,646 shares. Fifth Third National Bank & Trust has invested 0% of its portfolio in Comerica Incorporated (NYSE:CMA). Busey Tru Com reported 6,750 shares or 0.04% of all its holdings. Sumitomo Mitsui Trust Holdings owns 505,964 shares or 0.04% of their US portfolio. Dimensional Fund Advsr L P owns 992,577 shares or 0.02% of their US portfolio. Apg Asset Nv, a Netherlands-based fund reported 245,459 shares. Lazard Asset Mgmt Limited Liability Corporation holds 0.04% of its portfolio in Comerica Incorporated (NYSE:CMA) for 440,531 shares. Blackrock Institutional Tru Na holds 0.03% or 4.44 million shares in its portfolio. Rhumbline Advisers accumulated 269,555 shares or 0.03% of the stock. The California-based Schwab Charles Mgmt has invested 0.03% in Comerica Incorporated (NYSE:CMA). Century has 0.18% invested in the company for 3.88 million shares.

Insider Transactions: Since August 25, 2016, the stock had 0 insider buys, and 1 insider sale for $105,701 net activity. 2,302 shares were sold by OBERMEYER PAUL R, worth $105,701 on Thursday, August 25.

More news for Comerica Incorporated (NYSE:CMA) were recently published by:, which released: “Michael G. Van de Ven Appointed to the Comerica Incorporated Board of Directors” on September 28, 2016.‘s article titled: “Fitch Affirms Comerica’s L-T IDR at ‘A’ Following Large Regional Bank Review …” and published on October 04, 2016 is yet another important article.

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.

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