What’s Comerica Incorporated Upside After Today’s Bullish Options Activity?

 What's Comerica Incorporated Upside After Today's Bullish Options Activity?

In today’s session Comerica Incorporated (CMA) registered an unusually high (386) 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 386 contracts traded and 18054 open interest for the Oct, 16 contract, it seems this is a quite bullish bet. The option with symbol: CMA161021C00048000 closed last at: $1.08 or 15% down. About 901,490 shares traded hands. Comerica Incorporated (NYSE:CMA) has risen 31.26% since March 16, 2016 and is uptrending. It has outperformed by 25.72% 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 $141.27M for 16.53 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. $56 is the highest target while $34 is the lowest. The $46.02 average target is -10.76% below today’s ($51.57) stock price. Comerica Inc has been the topic of 52 analyst reports since July 20, 2015 according to StockzIntelligence Inc. The rating was downgraded by Bank of America on Wednesday, June 29 to “Underperform”. The rating was maintained by FBR Capital with “Mkt Perform” on Wednesday, October 19. The stock of Comerica Incorporated (NYSE:CMA) has “Outperformer” rating given on Monday, March 14 by CLSA. The firm has “Outperform” rating by Raymond James given on Monday, May 9. Sterne Agee CRT initiated the shares of CMA in a report on Thursday, August 20 with “Neutral” rating. The stock of Comerica Incorporated (NYSE:CMA) earned “Outperform” rating by FBR Capital on Wednesday, July 20. Goldman Sachs upgraded the shares of CMA in a report on Thursday, May 19 to “Neutral” rating. The stock of Comerica Incorporated (NYSE:CMA) has “Sell” rating given on Thursday, December 17 by Goldman Sachs. The rating was downgraded by Bank of America to “Underperform” on Tuesday, January 12. The stock of Comerica Incorporated (NYSE:CMA) earned “Underweight” rating by Barclays Capital on Wednesday, April 20.

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.
Signaturefd Limited Liability, a Georgia-based fund reported 256 shares. Liberty Cap Management Incorporated has invested 0.45% of its portfolio in Comerica Incorporated (NYSE:CMA). The Pennsylvania-based Pnc Ser Gru has invested 0% in Comerica Incorporated (NYSE:CMA). California Employees Retirement Sys has 547,764 shares for 0.04% of their US portfolio. Gamco Invsts Incorporated Et Al holds 0.05% of its portfolio in Comerica Incorporated (NYSE:CMA) for 175,100 shares. Gemmer Asset Ltd has invested 0.03% of its portfolio in Comerica Incorporated (NYSE:CMA). Moreover, Amer Intll Group has 0% invested in Comerica Incorporated (NYSE:CMA) for 78,907 shares. Barclays Plc last reported 0.03% of its portfolio in the stock. Clarkston Cap Limited Liability reported 9,480 shares or 0.02% of all its holdings. Gradient Investments Ltd Liability owns 100 shares or 0% of their US portfolio. Checchi Cap Advisers holds 2,498 shares or 0.01% of its portfolio. Nomura Holding holds 13,954 shares or 0% of its portfolio. Harvest Cap Strategies Ltd Com, a California-based fund reported 16,650 shares. Moreover, Capstone Asset Mgmt has 0.03% invested in Comerica Incorporated (NYSE:CMA) for 21,032 shares. Standard Life Investments last reported 1.15M shares in the company.

Insider Transactions: Since August 25, 2016, the stock had 0 insider buys, and 1 insider sale for $105,701 net activity. OBERMEYER PAUL R also sold $105,701 worth of Comerica Incorporated (NYSE:CMA) on Thursday, August 25.

Comerica Incorporated is a financial services company. The company has a market cap of $9.34 billion. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. It has a 21.46 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.

More news for Comerica Incorporated (NYSE:CMA) were recently published by: Prnewswire.com, which released: “Michael G. Van de Ven Appointed to the Comerica Incorporated Board of Directors” on September 28, 2016. Equitiesfocus.com‘s article titled: “Comerica Incorporated (NYSE:CMA) : PEG Ratio At 1.78” and published on October 18, 2016 is yet another important article.

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