The stock of Comerica Incorporated (NYSE:CMA) hit a new 52-week high and has $60.90 target or 23.00% above today’s $49.51 share price. The 9 months bullish chart indicates low risk for the $8.55B company. The 1-year high was reported on Oct, 18 by Barchart.com. If the $60.90 price target is reached, the company will be worth $1.97B 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 999,312 shares traded hands. Comerica Incorporated (NYSE:CMA) has risen 25.98% since March 15, 2016 and is uptrending. It has outperformed by 20.49% 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 $134.65 million for 15.88 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 22 analysts covering Comerica Inc (NYSE:CMA), 4 rate it a “Buy”, 3 “Sell”, while 15 “Hold”. This means 18% are positive. $52 is the highest target while $34 is the lowest. The $45.61 average target is -7.88% below today’s ($49.51) stock price. Comerica Inc has been the topic of 50 analyst reports since July 20, 2015 according to StockzIntelligence Inc. As per Monday, October 19, the company rating was maintained by BMO Capital Markets. The firm has “Neutral” rating by Goldman Sachs given on Thursday, May 19. The company was maintained on Wednesday, July 20 by FBR Capital. The stock of Comerica Incorporated (NYSE:CMA) earned “Neutral” rating by Sterne Agee CRT on Thursday, August 20. The firm has “Outperform” rating by FBR Capital given on Wednesday, January 20. The stock has “Neutral” rating given by Robert W. Baird on Monday, August 24. The rating was initiated by Wedbush on Friday, October 7 with “Neutral”. The firm earned “Neutral” rating on Wednesday, July 20 by Citigroup. On Tuesday, July 21 the stock rating was maintained by Jefferies with “Hold”. The stock of Comerica Incorporated (NYSE:CMA) has “Neutral” rating given on Monday, December 28 by Piper Jaffray.
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 2016 Q2. Its up 0.19, from 0.83 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.
State Treasurer State Of Michigan, a Michigan-based fund reported 60,876 shares. Plante Moran Advsrs Llc holds 1,860 shares or 0.06% of its portfolio. Rafferty Asset Mgmt Limited Company accumulated 0.2% or 71,876 shares. Moreover, Fiduciary Wi has 2.51% invested in Comerica Incorporated (NYSE:CMA) for 10.01M shares. Moreover, Glenmede Tru Na has 0.01% invested in Comerica Incorporated (NYSE:CMA) for 30,153 shares. Cranbrook Wealth Mngmt Lc holds 0.02% or 750 shares in its portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 22,192 shares in the company. Strs Ohio holds 0.01% or 31,746 shares in its portfolio. Barrow Hanley Mewhinney & Strauss Ltd Llc holds 0.09% or 1.43 million shares in its portfolio. Los Angeles Capital Mgmt & Equity reported 56,818 shares or 0.02% of all its holdings. Rs Management Com Lc has 881,365 shares for 0.37% of their US portfolio. Qs Investors Llc reported 2,849 shares or 0% of all its holdings. The Florida-based Raymond James Assoc has invested 0% in Comerica Incorporated (NYSE:CMA). State Of Tennessee Treasury Department owns 38,855 shares or 0.01% of their US portfolio. Shinko Asset Mngmt Limited has 0% invested in the company for 526 shares.
Insider Transactions: Since August 25, 2016, the stock had 0 buys, and 1 insider sale for $105,701 net activity. Another trade for 2,302 shares valued at $105,701 was made by OBERMEYER PAUL R on Thursday, August 25.
Another recent and important Comerica Incorporated (NYSE:CMA) news was published by Prnewswire.com which published an article titled: “Michael G. Van de Ven Appointed to the Comerica Incorporated Board of Directors” on September 28, 2016.
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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