Comerica Incorporated (CMA) announced its most recent quarterly financial results on Tuesday, Oct-18-2016. CMA said it had a profit of $0.84 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $0.78. Analysts expectations of $720.40 million. During the same quarter in the previous year, the company posted $0.74 EPS.
Many Wall Street Analysts have commented on Comerica Incorporated. Comerica Incorporated was Downgraded by FBR & Co. to ” Mkt Perform” on Oct 11, 2016. Wedbush Initiated Comerica Incorporated on Oct 7, 2016 to “Neutral”, Price Target of the shares are set at $49.Comerica Incorporated was Upgraded by Goldman to ” Buy” on Sep 16, 2016.
Comerica Incorporated opened for trading at $48.77 and hit $48.99 on the upside on Friday, eventually ending the session at $48.4, with a gain of 1.02% or 0.49 points. The heightened volatility saw the trading volume jump to 16,33,374 shares. Company has a market cap of $8,417 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.