Comerica Incorporated (CMA) is Downgraded by Wells Fargo to Underperform

Comerica Incorporated (CMA) was Downgraded by Wells Fargo to ” Underperform”. Earlier the firm had a rating of “Market Perform ” on the company shares. Wells Fargo advised their investors in a research report released on May 13, 2016.

Many Wall Street Analysts have commented on Comerica Incorporated. Comerica Incorporated was Upgraded by Raymond James to ” Outperform” on May 9, 2016. Comerica Incorporated was Upgraded by BofA/Merrill to ” Neutral” on Apr 21, 2016. Company shares were Reiterated by RBC Capital Mkts on Apr 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 46 from a previous price target of $44 .

On the company’s financial health, Comerica Incorporated reported $0.34 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Apr 19, 2016. Analyst had a consensus of $0.45.Analysts expectations of $ 706.59.During the same quarter in the previous year, the company posted $0.73 EPS.

Comerica Incorporated opened for trading at $42.51 and hit $43.11 on the upside on Tuesday, eventually ending the session at $42.9, with a gain of 1.68% or 0.71 points. The heightened volatility saw the trading volume jump to 16,40,116 shares. Company has a market cap of $7,513 M.

In a different news, on Mar 4, 2016, Peter L Sefzik (Executive Vice President) sold 2,500 shares at $35.43 per share price. According to the SEC, on Nov 10, 2015, Jacqueline P Kane (director) purchased 256 shares at $46.93 per share price. On Mar 5, 2015, Peter William Guilfoile (Executive Vice President) sold 1,200 shares at $45.81 per share price, according to the Form-4 filing with the securities and exchange commission.

Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. It operates in three business segments: the Business Bank the Retail Bank and Wealth Management. In addition it also operates in the Finance segment. The Business Bank segment offers commercial loans and lines of credit deposits cash management capital market products international trade finance letters of credit foreign exchange management services and loan syndication services. The Retail Bank segment offers deposit accounts installment loans credit cards student loans home equity lines of credit and residential mortgage loans. The Wealth Management segment offers fiduciary services private banking retirement services investment management and advisory services investment banking and brokerage services. The Finance segment includes its securities portfolio and asset and liability management activities.

Comerica Incorporated

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