November 28, 2016 - By Marie Mckinney · 0 Comments
Comerica Inc (NYSE:CMA) institutional sentiment increased to 1.13 in 2016 Q2. Its up 0.11, from 1.02 in 2016Q1. The ratio is better, as 159 hedge funds increased or opened new equity positions, while 156 decreased and sold holdings in Comerica Inc. The hedge funds in our partner’s database now hold: 144.79 million shares, down from 152.29 million shares in 2016Q1. Also, the number of hedge funds holding Comerica Inc in their top 10 equity positions increased from 2 to 3 for an increase of 1. Sold All: 31 Reduced: 125 Increased: 116 New Position: 43.
Comerica Incorporated is a financial services company. The company has a market cap of $10.62 billion. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. It has a 25.65 P/E ratio. Comerica has its activities in three business divisions: the Business Bank, the Retail Bank and Wealth Management.
About 1.01M 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 EPS, up 32.39% or $0.23 from last year’s $0.71 per share. CMA’s profit will be $161.90M for 16.40 P/E if the $0.94 EPS becomes a reality. After $0.92 actual EPS reported by Comerica Incorporated for the previous quarter, Wall Street now forecasts 2.17% EPS growth.
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.”
Forest Hill Capital Llc holds 3.86% of its portfolio in Comerica Incorporated for 699,413 shares. Pl Capital Advisors Llc owns 275,000 shares or 3.85% of their US portfolio. Moreover, Third Avenue Management Llc has 3.57% invested in the company for 1.95 million shares. The Connecticut-based Bronson Point Management Llc has invested 2.79% in the stock. Fiduciary Management Inc Wi, a Wisconsin-based fund reported 10.01 million shares.#img1#
Insider Transactions: Since January 1, 0001, the stock had 0 insider buys, and 9 insider sales for $630,120 net activity.
Ratings analysis reveals 13% of Comerica Inc’s analysts are positive. Out of 23 Wall Street analysts rating Comerica Inc, 3 give it “Buy”, 3 “Sell” rating, while 17 recommend “Hold”. The lowest target is $34 while the high is $56. The stock’s average target of $46.30 is -24.91% below today’s ($61.66) share price. CMA was included in 54 notes of analysts from July 20, 2015. The stock of Comerica Incorporated (NYSE:CMA) has “Hold” rating given on Monday, November 14 by Sandler O’Neill. On Wednesday, July 20 the stock rating was maintained by Citigroup with “Neutral”. On Friday, September 16 the stock rating was upgraded by Goldman Sachs to “Buy”. The company was downgraded on Thursday, December 17 by Goldman Sachs. The rating was initiated by Sterne Agee CRT on Thursday, August 20 with “Neutral”. The stock has “Outperform” rating given by Raymond James on Monday, May 9. Bank of America downgraded Comerica Incorporated (NYSE:CMA) on Tuesday, January 12 to “Underperform” rating. On Monday, December 28 the stock rating was maintained by Piper Jaffray with “Neutral”. The firm earned “Outperform” rating on Thursday, January 7 by Robert W. Baird. The firm has “Hold” rating given on Wednesday, August 26 by Zacks.
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.
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.
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By Marie Mckinney