Comerica Incorporated Has Another Very Positive Options Trading Session


 Comerica Incorporated Has Another Very Positive Options Trading Session

In today’s session Comerica Incorporated (CMA) registered an unusually high (750) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the October, 2016 call, expecting serious CMA increase. With 750 contracts traded and 3444 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: CMA161021C00049000 closed last at: $1.33 or 87.3% up. About 453,514 shares traded hands. Comerica Incorporated (NYSE:CMA) has risen 28.69% since March 4, 2016 and is uptrending. It has outperformed by 20.66% the S&P500.

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 $135.65M for 15.65 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 22 analysts covering Comerica Inc (NYSE:CMA), 5 rate it a “Buy”, 3 “Sell”, while 14 “Hold”. This means 23% are positive. $52 is the highest target while $34 is the lowest. The $45.61 average target is -6.58% below today’s ($48.82) stock price. Comerica Inc has been the topic of 49 analyst reports since July 20, 2015 according to StockzIntelligence Inc. Goldman Sachs upgraded Comerica Incorporated (NYSE:CMA) rating on Thursday, May 19. Goldman Sachs has “Neutral” rating and $49 price target. The stock of Comerica Incorporated (NYSE:CMA) earned “Neutral” rating by Citigroup on Wednesday, July 20. On Thursday, April 21 the stock rating was upgraded by Bank of America to “Neutral”. The company was downgraded on Thursday, December 17 by Goldman Sachs. JP Morgan maintained Comerica Incorporated (NYSE:CMA) rating on Wednesday, April 20. JP Morgan has “Neutral” rating and $42.50 price target. The rating was maintained by Compass Point on Wednesday, July 20 with “Neutral”. The rating was downgraded by Bank of America to “Underperform” on Wednesday, June 29. As per Tuesday, July 21, the company rating was maintained by Jefferies. FBR Capital upgraded the shares of CMA in a report on Wednesday, January 20 to “Outperform” rating. Wells Fargo upgraded Comerica Incorporated (NYSE:CMA) on Friday, July 8 to “Market Perform” rating.

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 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.
The New York-based Bluemar Ltd Llc has invested 1.68% in Comerica Incorporated (NYSE:CMA). Gemmer Asset Mgmt Limited Liability Corporation last reported 0.03% of its portfolio in the stock. Moreover, M&T State Bank has 0% invested in Comerica Incorporated (NYSE:CMA) for 12,957 shares. Sei accumulated 0.07% or 279,234 shares. Rhumbline Advisers last reported 269,555 shares in the company. Moreover, Harvest Cap Strategies Lc has 0.1% invested in Comerica Incorporated (NYSE:CMA) for 16,650 shares. Primecap Management Ca accumulated 53,500 shares or 0% of the stock. The Michigan-based Telemus Cap has invested 0.09% in Comerica Incorporated (NYSE:CMA). Bnp Paribas Inv Prtnrs accumulated 0.01% or 19,129 shares. Blackrock Management Ltd Liability Corp holds 0.02% of its portfolio in Comerica Incorporated (NYSE:CMA) for 376,992 shares. Tci Wealth has 106 shares for 0% of their US portfolio. Euclid Limited Company accumulated 0% or 1,190 shares. Argent last reported 5,070 shares in the company. Gam Holdg Ag has 0% invested in the company for 7,781 shares. Keybank National Association Oh accumulated 0% or 6,163 shares.

Insider Transactions: Since August 25, 2016, the stock had 0 insider purchases, and 1 sale for $105,701 net activity. On Thursday, August 25 OBERMEYER PAUL R sold $105,701 worth of the stock or 2,302 shares.

Comerica Incorporated is a financial services company. The company has a market cap of $8.49 billion. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. It has a 21.19 P/E ratio. Comerica has its activities in three business divisions: the Business Bank, the Retail Bank and Wealth Management.

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.

Another recent and important Comerica Incorporated (NYSE:CMA) news was published by which published an article titled: “Michael G. Van de Ven Appointed to the Comerica Incorporated Board of Directors” on September 28, 2016.

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