The stock of Comerica Incorporated (NYSE:CMA) hit a new 52-week high and has $73.14 target or 36.00% above today’s $53.78 share price. The 6 months bullish chart indicates low risk for the $9.27B company. The 1-year high was reported on Nov, 9 by Barchart.com. If the $73.14 price target is reached, the company will be worth $3.34 billion 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 1.03M shares traded hands. Comerica Incorporated (NYSE:CMA) has risen 42.33% since April 7, 2016 and is uptrending. It has outperformed by 37.54% 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 -14.43% below today’s ($53.78) stock price. Comerica Inc has been the topic of 52 analyst reports since July 20, 2015 according to StockzIntelligence Inc. As per Wednesday, January 20, the company rating was upgraded by FBR Capital. The stock has “Outperform” rating given by RBC Capital Markets on Wednesday, January 20. The firm earned “Outperformer” rating on Monday, March 14 by CLSA. Barclays Capital maintained Comerica Incorporated (NYSE:CMA) rating on Wednesday, April 20. Barclays Capital has “Underweight” rating and $42 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 Tuesday, January 12. The stock of Comerica Incorporated (NYSE:CMA) earned “Mkt Perform” rating by FBR Capital on Tuesday, October 11. RBC Capital Markets maintained the shares of CMA in a report on Wednesday, July 20 with “Outperform” rating. The stock has “Neutral” rating given by Piper Jaffray on Monday, December 28. Stephens downgraded the shares of CMA in a report on Wednesday, April 20 to “Equal-Weight” 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 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.
Citigroup Incorporated last reported 39,503 shares in the company. Oakworth Cap accumulated 0% or 22 shares. Wetherby Asset Mgmt Incorporated reported 5,261 shares or 0.05% of all its holdings. Tiaa Cref Invest Management Ltd Liability Company accumulated 2.19 million shares or 0.07% of the stock. Washington Bancorp has 55,097 shares for 0.59% of their US portfolio. Moreover, Clarkston Cap Prns Ltd has 0.02% invested in Comerica Incorporated (NYSE:CMA) for 9,480 shares. Tci Wealth Advsr holds 0% or 106 shares in its portfolio. First Manhattan holds 0% of its portfolio in Comerica Incorporated (NYSE:CMA) for 3,786 shares. Meeder Asset Inc, a Ohio-based fund reported 39,193 shares. Old Second Bancorp Of Aurora has 4,995 shares for 0.1% of their US portfolio. Moreover, Piedmont Advsr has 0% invested in Comerica Incorporated (NYSE:CMA) for 3 shares. Telemus Limited Liability Com reported 17,929 shares or 0.09% of all its holdings. Morgan Stanley holds 328,987 shares or 0% of its portfolio. Next Fincl Group has invested 0% of its portfolio in Comerica Incorporated (NYSE:CMA). First Mercantile Tru has 0.05% invested in the company for 9,700 shares.
Insider Transactions: Since August 25, 2016, the stock had 0 insider buys, and 3 sales for $327,352 net activity. $105,701 worth of shares were sold by OBERMEYER PAUL R on Thursday, August 25. $120,226 worth of Comerica Incorporated (NYSE:CMA) was sold by RITCHIE MICHAEL T on Wednesday, November 2. $101,425 worth of Comerica Incorporated (NYSE:CMA) was sold by Carr Muneera 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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