The stock of Comerica Incorporated (NYSE:CMA) hit a new 52-week high and has $63.65 target or 3.00% above today’s $61.80 share price. The 9 months bullish chart indicates low risk for the $10.64B company. The 1-year high was reported on Nov, 28 by Barchart.com. If the $63.65 price target is reached, the company will be worth $319.20 million 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 828,375 shares traded hands. Comerica Incorporated (NYSE:CMA) has risen 42.31% since April 25, 2016 and is uptrending. It has outperformed by 36.29% the S&P500.
Analysts await Comerica Incorporated (NYSE:CMA) to report earnings on January, 17. They expect $0.94 earnings per share, up 32.39% or $0.23 from last year’s $0.71 per share. CMA’s profit will be $161.84 million for 16.44 P/E if the $0.94 EPS becomes a reality. After $0.92 actual earnings per share reported by Comerica Incorporated for the previous quarter, Wall Street now forecasts 2.17% EPS growth.
Comerica Incorporated (NYSE:CMA) Ratings Coverage
Out of 23 analysts covering Comerica Inc (NYSE:CMA), 4 rate it a “Buy”, 3 “Sell”, while 16 “Hold”. This means 17% are positive. Comerica Inc has been the topic of 55 analyst reports since July 20, 2015 according to StockzIntelligence Inc. The rating was initiated by Sterne Agee CRT on Thursday, August 20 with “Neutral”. As per Wednesday, July 20, the company rating was maintained by Compass Point. The firm earned “Outperform” rating on Wednesday, July 20 by RBC Capital Markets. On Thursday, January 7 the stock rating was upgraded by Robert W. Baird to “Outperform”. Goldman Sachs upgraded the stock to “Neutral” rating in Thursday, May 19 report. Barclays Capital maintained Comerica Incorporated (NYSE:CMA) on Wednesday, April 20 with “Underweight” rating. The firm earned “Market Perform” rating on Friday, July 8 by Wells Fargo. Wells Fargo downgraded the stock to “Underperform” rating in Friday, May 13 report. The company was initiated on Friday, October 7 by Wedbush. The firm earned “Equal-Weight” rating on Wednesday, April 20 by Stephens.
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.
Pl Advsr Ltd Liability Corporation holds 3.85% or 275,000 shares in its portfolio. The United Kingdom-based Blackrock Gp Ltd has invested 0.03% in Comerica Incorporated (NYSE:CMA). Moreover, Advantus Cap Management has 0.02% invested in Comerica Incorporated (NYSE:CMA) for 16,929 shares. Moreover, Ngam Advsrs Lp has 0.02% invested in Comerica Incorporated (NYSE:CMA) for 37,914 shares. Water Island Cap Limited Liability Corp has invested 0% of its portfolio in Comerica Incorporated (NYSE:CMA). Proshare owns 40,365 shares or 0.02% of their US portfolio. Ontario Teachers Pension Plan Board, a Ontario – Canada-based fund reported 15,899 shares. International Gru, a New York-based fund reported 78,907 shares. Point72 Asset Management Lp accumulated 33,681 shares or 0.01% of the stock. Cranbrook Wealth Management Limited Liability accumulated 0.02% or 750 shares. Moreover, Private Financial Bank And has 0.25% invested in Comerica Incorporated (NYSE:CMA) for 39,450 shares. Hgk Asset Management Incorporated accumulated 0.03% or 5,295 shares. Twin Tree Lp holds 11,646 shares or 0.01% of its portfolio. Utd Capital Finance Advisers Limited Liability holds 0% or 5,711 shares in its portfolio. Moreover, Tcw Gru Incorporated has 0.02% invested in Comerica Incorporated (NYSE:CMA) for 59,183 shares.
Insider Transactions: Since August 25, 2016, the stock had 0 insider purchases, and 9 selling transactions for $630,120 net activity. MICHALAK MICHAEL H had sold 90 shares worth $5,489 on Friday, November 18. RITCHIE MICHAEL T sold 114 shares worth $7,074. Another trade for 106 shares valued at $6,432 was made by Guilfoile Peter William on Friday, November 18. The insider OBERMEYER PAUL R sold 2,302 shares worth $105,701. $101,425 worth of Comerica Incorporated (NYSE:CMA) was sold by Carr Muneera S on Friday, October 21. $265,534 worth of Comerica Incorporated (NYSE:CMA) was sold by Burkhart Megan D. $5,972 worth of Comerica Incorporated (NYSE:CMA) was sold by Love Judith S.
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.
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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