What’s Propelling Comerica Incorporated (CMA) to Reach 52-Week High?

January 16, 2018 - By Marguerite Chambers

Investors sentiment decreased to 1.06 in 2017 Q3. Its down 0.29, from 1.35 in 2017Q2. It turned negative, as 43 investors sold Comerica Incorporated shares while 147 reduced holdings. 50 funds opened positions while 152 raised stakes. 139.79 million shares or 2.40% less from 143.22 million shares in 2017Q2 were reported.
Maltese Capital Management Limited Company reported 205,900 shares stake. Federated Inc Pa holds 0.09% or 422,907 shares. Fincl Bank Of Hawaii reported 4,820 shares. Quantitative Investment Management reported 53,700 shares. Fil owns 0.03% invested in Comerica Incorporated (NYSE:CMA) for 116,056 shares. 100,000 were reported by Ubs Oconnor Limited Liability Corporation. Third Avenue Mngmt Ltd Liability stated it has 847,570 shares. Retail Bank Of Mellon has 0.04% invested in Comerica Incorporated (NYSE:CMA). Lazard Asset Mgmt Ltd Co accumulated 546,393 shares. Brighton Jones Limited Liability Corp holds 0.03% or 2,965 shares. Lmr Partners Ltd Liability Partnership reported 0.07% stake. Hartford Mngmt owns 0.06% invested in Comerica Incorporated (NYSE:CMA) for 40,360 shares. Eqis Capital Mngmt holds 3,273 shares or 0.01% of its portfolio. 476,837 were reported by Carlson Capital Ltd Partnership. Winfield Assocs reported 121 shares stake.

Since August 22, 2017, it had 0 insider purchases, and 3 sales for $3.10 million activity. 21,000 shares valued at $1.46M were sold by Love Judith S on Tuesday, August 22. Guilfoile Peter William also sold $203,508 worth of Comerica Incorporated (NYSE:CMA) shares.

The stock of Comerica Incorporated (NYSE:CMA) hit a new 52-week high and has $95.95 target or 3.00 % above today’s $93.16 share price. The 9 months bullish chart indicates low risk for the $16.20B company. The 1-year high was reported on Jan, 16 by Barchart.com. If the $95.95 price target is reached, the company will be worth $486.06M 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.

The stock increased 0.13% or $0.12 during the last trading session, reaching $93.16. About 1.65 million shares traded or 3.17% up from the average. Comerica Incorporated (NYSE:CMA) has risen 54.07% since January 16, 2017 and is uptrending. It has outperformed by 37.37% the S&P500.

Comerica Incorporated (NYSE:CMA) Ratings Coverage

Among 32 analysts covering Comerica Inc (NYSE:CMA), 15 have Buy rating, 2 Sell and 15 Hold. Therefore 47% are positive. Comerica Inc had 111 analyst reports since July 20, 2015 according to SRatingsIntel. The firm has “Buy” rating given on Friday, January 5 by Instinet. The stock of Comerica Incorporated (NYSE:CMA) earned “Outperform” rating by FBR Capital on Wednesday, July 20. The stock of Comerica Incorporated (NYSE:CMA) earned “Hold” rating by BMO Capital Markets on Wednesday, June 28. On Thursday, September 7 the stock rating was maintained by RBC Capital Markets with “Buy”. The stock of Comerica Incorporated (NYSE:CMA) has “Buy” rating given on Tuesday, December 12 by Keefe Bruyette & Woods. FBR Capital maintained it with “Buy” rating and $7900 target in Tuesday, July 18 report. The firm has “Neutral” rating by Wedbush given on Wednesday, November 30. The rating was downgraded by Bank of America on Tuesday, January 12 to “Underperform”. Robert W. Baird upgraded it to “Outperform” rating and $46.0 target in Thursday, January 7 report. Sandler O’Neill downgraded Comerica Incorporated (NYSE:CMA) on Monday, November 14 to “Hold” rating.

More notable recent Comerica Incorporated (NYSE:CMA) news were published by: Prnewswire.com which released: “Comerica Announces Increase In Its Minimum Wage To $15 Per Hour And $1000 …” on December 29, 2017, also Reuters.com with their article: “UPDATE 1-Comerica tops profit estimates as interest income jumps” published on January 16, 2018, Prnewswire.com published: “Comerica Reports Fourth Quarter 2017 Earnings Results” on January 16, 2018. More interesting news about Comerica Incorporated (NYSE:CMA) were released by: Zacks.com and their article: “Comerica (CMA) Beat on Q4 Earnings on High Revenues January 16, 2018” published on January 16, 2018 as well as Nasdaq.com‘s news article titled: “Comerica Inc. Q4 Earnings Advance 28%” with publication date: January 16, 2018.

Comerica Incorporated, through its subsidiaries, provides various financial services and products. The company has market cap of $16.20 billion. The firm operates through three divisions: Business Bank, Retail Bank, and Wealth Management. It has a 21.11 P/E ratio. The Business Bank segment offers various services and products, such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication services to middle market businesses, multinational firms, and governmental entities.

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