Comerica Incorporated (CMA) was Initiated by Wedbush to “Neutral” and the brokerage firm has set the Price Target at $49. Wedbush advised their investors in a research report released on Oct 7, 2016.
Many Wall Street Analysts have commented on Comerica Incorporated. Comerica Incorporated was Upgraded by Goldman to ” Buy” on Sep 16, 2016. Company shares were Reiterated by UBS on Jul 20, 2016 to “Neutral”, Firm has raised the Price Target to $ 45 from a previous price target of $41 .Company shares were Reiterated by FBR Capital on Jul 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 50 from a previous price target of $48 .
On the company’s financial health, Comerica Incorporated reported $0.58 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Jul 19, 2016. Analyst had a consensus of $0.69. The company had revenue of $714.00 million for the quarter, compared to analysts expectations of $715.64 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS.
Comerica Incorporated opened for trading at $47.03 and hit $48.31 on the upside on Tuesday, eventually ending the session at $47.87, with a gain of 1.06% or 0.5 points. The heightened volatility saw the trading volume jump to 19,41,673 shares. Company has a market cap of $8,325 M.
In a different news, on Aug 29, 2016, Paul R Obermeyer (Executive Vice President) sold 2,302 shares at $45.92 per share price. According to the SEC, on Mar 4, 2016, Peter L Sefzik (Executive Vice President) sold 2,500 shares at $35.43 per share price. On Nov 10, 2015, Jacqueline P Kane (director) purchased 256 shares at $46.93 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.