In today’s session Comerica Incorporated (CMA) registered an unusually high (500) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the January, 2017 call, expecting serious CMA increase. With 500 contracts traded and 108384 open interest for the Jan, 17 contract, it seems this is a quite bullish bet. The option with symbol: CMA170120C00055000 closed last at: $1.45 or 6.6% up. About 582,367 shares traded hands. Comerica Incorporated (NYSE:CMA) has risen 36.86% since March 29, 2016 and is uptrending. It has outperformed by 33.38% the S&P500.
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 -12.06% below today’s ($52.33) stock price. Comerica Inc has been the topic of 52 analyst reports since July 20, 2015 according to StockzIntelligence Inc. Zacks downgraded the shares of CMA in a report on Wednesday, August 26 to “Hold” rating. The stock has “Buy” rating given by Goldman Sachs on Friday, September 16. The firm has “Neutral” rating by Robert W. Baird given on Monday, August 24. The stock of Comerica Incorporated (NYSE:CMA) earned “Mkt Perform” rating by FBR Capital on Wednesday, October 19. The stock of Comerica Incorporated (NYSE:CMA) has “Neutral” rating given on Friday, October 7 by Wedbush. The firm has “Hold” rating given on Wednesday, February 24 by Deutsche Bank. The stock has “Outperform” rating given by RBC Capital Markets on Wednesday, July 20. The company was downgraded on Tuesday, October 11 by FBR Capital. Jefferies maintained it with “Hold” rating and $52 target price in Tuesday, July 21 report. The rating was upgraded by Raymond James on Monday, May 9 to “Outperform”.
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 2016 Q2. Its up 0.19, from 0.83 in 2016Q1. The ratio improved, 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.
Hennessy Advsr has 0.02% invested in the company for 16,000 shares. Advisor Ltd Com holds 0.09% of its portfolio in Comerica Incorporated (NYSE:CMA) for 6,319 shares. Wells Fargo And Mn holds 0% or 144,025 shares in its portfolio. Los Angeles & Equity Research owns 56,818 shares or 0.02% of their US portfolio. United Advisers Ltd Liability Corp accumulated 0% or 5,711 shares. Hudson Bay Mngmt Lp reported 200,000 shares or 0.25% of all its holdings. Koshinski Asset Mngmt last reported 6,604 shares in the company. Lord Abbett & Lc last reported 351,478 shares in the company. Utah Retirement System holds 0.03% of its portfolio in Comerica Incorporated (NYSE:CMA) for 31,796 shares. California State Teachers Retirement Sys accumulated 380,041 shares or 0.03% of the stock. Btim Corp accumulated 0.14% or 204,051 shares. Concert Wealth Inc holds 5,350 shares or 0.03% of its portfolio. Zweig holds 200,000 shares or 0.84% of its portfolio. Rice Hall James Assocs Ltd Liability Com accumulated 0.1% or 43,655 shares. Moreover, Rafferty Asset Mngmt Ltd Liability has 0.2% invested in Comerica Incorporated (NYSE:CMA) for 71,876 shares.
Insider Transactions: Since August 25, 2016, the stock had 0 buys, and 2 sales for $207,126 net activity. Carr Muneera S sold 1,986 shares worth $101,425. The insider OBERMEYER PAUL R sold 2,302 shares worth $105,701.
Comerica Incorporated is a financial services company. The company has a market cap of $9.05 billion. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. It has a 21.77 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: “Comerica Bank’s Texas Index Moves Sideways” on October 27, 2016. Benzinga.com‘s article titled: “4 Takeaways From Comerica’s Q3 EPS Beat” and published on October 19, 2016 is yet another important article.
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