The stock of Comerica Incorporated (NYSE:CMA) hit a new 52-week high and has $84.60 target or 39.00% above today’s $60.86 share price. The 6 months bullish chart indicates low risk for the $10.57B company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $84.60 price target is reached, the company will be worth $4.12 billion 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 393,252 shares traded hands. Comerica Incorporated (NYSE:CMA) has risen 46.59% since April 19, 2016 and is uptrending. It has outperformed by 42.73% the S&P500.
Comerica Incorporated (NYSE:CMA) Ratings Coverage
Out of 23 analysts covering Comerica Inc (NYSE:CMA), 3 rate it a “Buy”, 3 “Sell”, while 17 “Hold”. This means 13% are positive. Comerica Inc has been the topic of 54 analyst reports since July 20, 2015 according to StockzIntelligence Inc. Stephens downgraded the stock to “Equal-Weight” rating in Wednesday, April 20 report. Wedbush initiated the stock with “Neutral” rating in Friday, October 7 report. The stock has “Outperform” rating given by FBR Capital on Wednesday, July 20. The firm has “Neutral” rating given on Wednesday, April 20 by JP Morgan. Wood maintained Comerica Incorporated (NYSE:CMA) rating on Wednesday, April 20. Wood has “Market Perform” rating and $42 price target. Raymond James upgraded the shares of CMA in a report on Monday, May 9 to “Outperform” rating. RBC Capital Markets maintained the shares of CMA in a report on Wednesday, January 20 with “Outperform” rating. The rating was maintained by Compass Point on Wednesday, July 20 with “Neutral”. The stock of Comerica Incorporated (NYSE:CMA) earned “Neutral” rating by Goldman Sachs on Thursday, May 19. The rating was downgraded by FBR Capital to “Mkt Perform” on Tuesday, October 11.
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 1.13 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.
California Public Employees Retirement Systems has 547,764 shares for 0.04% of their US portfolio. Savings Bank Of Ny Mellon holds 0.03% or 2.28 million shares in its portfolio. Life Tru last reported 0% of its portfolio in the stock. Washington Tru Financial Bank accumulated 55,097 shares or 0.59% of the stock. Hgk Asset Mgmt reported 5,295 shares or 0.03% of all its holdings. Bluemar Capital Ltd Com accumulated 84,700 shares or 1.68% of the stock. Primecap Mngmt Company Ca last reported 53,500 shares in the company. owns 78,907 shares or 0% of their US portfolio. Schwab Charles Inv Mngmt last reported 0.03% of its portfolio in the stock. Hartford Investment Mngmt, a Connecticut-based fund reported 41,895 shares. Cambridge Rech Incorporated has 5,998 shares for 0.01% of their US portfolio. D E Shaw & Inc has 18,518 shares for 0% of their US portfolio. Hsbc Holding Public Limited, a United Kingdom-based fund reported 116,667 shares. Caisse De Depot Et Placement Du Quebec accumulated 42,401 shares or 0% of the stock. New York State Common Retirement Fund has 0.03% invested in the company for 493,565 shares.
Insider Transactions: Since August 25, 2016, the stock had 0 insider purchases, and 3 selling transactions for $327,352 net activity. The insider OBERMEYER PAUL R sold 2,302 shares worth $105,701. Carr Muneera S had sold 1,986 shares worth $101,425. $120,226 worth of shares were sold by RITCHIE MICHAEL T on Wednesday, November 2.
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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