Comerica Incorporated Is a Sell; Strong Momentum from Option Traders

 Comerica Incorporated Is a Sell; Strong Momentum from Option Traders

In today’s session Comerica Incorporated (CMA) recorded an unusually high (770) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious CMA decrease. With 770 contracts traded and 974 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: CMA161216P00052500 closed last at: $0.79 or 32.5% down. About 673,301 shares traded hands. Comerica Incorporated (NYSE:CMA) has risen 51.39% since April 12, 2016 and is uptrending. It has outperformed by 46.40% the S&P500.

Comerica Incorporated (NYSE:CMA) Ratings Coverage

Out of 22 analysts covering Comerica Inc (NYSE:CMA), 3 rate it a “Buy”, 3 “Sell”, while 16 “Hold”. This means 14% are positive. $56 is the highest target while $34 is the lowest. The $46.30 average target is -21.96% below today’s ($59.33) stock price. Comerica Inc has been the topic of 53 analyst reports since July 20, 2015 according to StockzIntelligence Inc. Piper Jaffray maintained the stock with “Neutral” rating in Monday, December 28 report. The stock has “Sell” rating given by Goldman Sachs on Thursday, December 17. The firm earned “Neutral” rating on Thursday, August 20 by Sterne Agee CRT. The firm earned “Outperform” rating on Wednesday, July 20 by FBR Capital. Wood maintained the shares of CMA in a report on Wednesday, April 20 with “Market Perform” rating. JP Morgan maintained the stock with “Neutral” rating in Wednesday, April 20 report. The firm has “Underweight” rating given on Wednesday, April 20 by Barclays Capital. Raymond James upgraded the shares of CMA in a report on Monday, May 9 to “Outperform” rating. The stock has “Neutral” rating given by Compass Point on Wednesday, July 20. The company was maintained on Tuesday, July 21 by Jefferies.

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.
Wolverine Asset Mngmt Lc holds 0.01% or 16,876 shares in its portfolio. Ig Investment Limited, a Manitoba – Canada-based fund reported 14,100 shares. Moreover, Hgk Asset Mgmt has 0.03% invested in Comerica Incorporated (NYSE:CMA) for 5,295 shares. Jacobs Levy Equity Mgmt Inc accumulated 0.32% or 378,630 shares. Lord Abbett Ltd Liability Corp accumulated 351,478 shares or 0.05% of the stock. Gradient Investments Ltd Company, a Minnesota-based fund reported 100 shares. First Mercantile Tru Com, a Tennessee-based fund reported 9,700 shares. M&T Comml Bank last reported 12,957 shares in the company. X Mgmt Limited Com has 2,862 shares for 0.01% of their US portfolio. Strs Ohio holds 31,746 shares or 0.01% of its portfolio. Hartford Management last reported 0.04% of its portfolio in the stock. Hbk Invests Lp last reported 25,696 shares in the company. The Massachusetts-based Panagora Asset Mngmt Incorporated has invested 0.01% in Comerica Incorporated (NYSE:CMA). Moreover, Blackrock Group Limited has 0.03% invested in Comerica Incorporated (NYSE:CMA) for 1.35M shares. Advsr Asset Mgmt has invested 0% of its portfolio in Comerica Incorporated (NYSE:CMA).

Insider Transactions: Since August 25, 2016, the stock had 0 insider buys, and 3 sales for $327,352 net activity. $105,701 worth of Comerica Incorporated (NYSE:CMA) shares were sold by OBERMEYER PAUL R. $120,226 worth of Comerica Incorporated (NYSE:CMA) shares were sold by RITCHIE MICHAEL T. The insider Carr Muneera S sold 1,986 shares worth $101,425.

Comerica Incorporated is a financial services company. The company has a market cap of $10.48 billion. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. It has a 24.68 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 Equitiesfocus.com which published an article titled: “Dividend Payout Of Comerica Incorporated (NYSE:CMA) At $0.23” on November 13, 2016.

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