The stock of Comerica Incorporated (NYSE:CMA) is a huge mover today! About 1.95 million shares traded hands or 19.63% up from the average. Comerica Incorporated (NYSE:CMA) has risen 33.75% since March 2, 2016 and is uptrending. It has outperformed by 25.49% the S&P500.
The move comes after 6 months positive chart setup for the $8.68 billion company. It was reported on Oct, 5 by Barchart.com. We have $82.46 PT which if reached, will make NYSE:CMA worth $5.82 billion more.
Analysts await Comerica Incorporated (NYSE:CMA) to report earnings on October, 21. They expect $0.78 earnings per share, up 5.41% or $0.04 from last year’s $0.74 per share. CMA’s profit will be $137.11M for 15.83 P/E if the $0.78 EPS becomes a reality. After $0.77 actual earnings per share 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 stock of Comerica Incorporated (NYSE:CMA) earned “Sell” rating by Goldman Sachs on Thursday, December 17. The firm earned “Underperform” rating on Monday, October 19 by BMO Capital Markets. The firm earned “Hold” rating on Wednesday, August 26 by Zacks. The firm has “Outperform” rating given on Monday, May 9 by Raymond James. Barclays Capital maintained it with “Underweight” rating and $45 target price in Thursday, September 15 report. Barclays Capital maintained the stock with “Underweight” rating in Wednesday, April 20 report. Sterne Agee CRT initiated Comerica Incorporated (NYSE:CMA) on Thursday, August 20 with “Neutral” rating. The stock has “Outperform” rating given by Robert W. Baird on Thursday, January 7. As per Tuesday, October 6, the company rating was downgraded by JP Morgan. The firm has “Outperformer” rating by CLSA given on Monday, March 14.
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 improved, 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.
Johnson Financial Group Inc has 6,611 shares for 0.04% of their US portfolio. Rice Hall James Associate Ltd Liability Com holds 43,655 shares or 0.1% of its portfolio. The Maryland-based Pinnacle Advisory Gru has invested 0.02% in Comerica Incorporated (NYSE:CMA). Tcw Grp Inc accumulated 0.02% or 59,183 shares. Wetherby Asset Management Inc holds 0.05% of its portfolio in Comerica Incorporated (NYSE:CMA) for 5,261 shares. Macquarie Grp Limited holds 241,046 shares or 0.02% of its portfolio. Pinebridge Invs Ltd Partnership last reported 8,623 shares in the company. Principal Fin holds 0.01% of its portfolio in Comerica Incorporated (NYSE:CMA) for 256,341 shares. Hsbc Public Ltd Com holds 116,667 shares or 0.01% of its portfolio. Gabelli Funds Limited Liability Corporation has 0.01% invested in the company for 29,000 shares. Gradient Limited Liability Company, a Minnesota-based fund reported 100 shares. Financial Prtnrs Capital Mgmt Limited Com has invested 0.07% of its portfolio in Comerica Incorporated (NYSE:CMA). Andra Ap accumulated 48,300 shares or 0.05% of the stock. Tokio Marine Asset Management Ltd accumulated 0.03% or 7,536 shares. Amica Pension Fund Board Of Trustees holds 0.03% or 6,059 shares in its portfolio.
Insider Transactions: Since August 25, 2016, the stock had 0 insider buys, and 1 sale for $105,701 net activity. $105,701 worth of Comerica Incorporated (NYSE:CMA) shares were sold by OBERMEYER PAUL R.
More news for Comerica Incorporated (NYSE:CMA) were recently published by: Prnewswire.com, which released: “Michael G. Van de Ven Appointed to the Comerica Incorporated Board of Directors” on September 28, 2016. Businesswire.com‘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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