Comerica Incorporated (CMA) is Upgraded by Jefferies to Buy

Comerica Incorporated (CMA) was Upgraded by Jefferies to ” Buy”. Earlier the firm had a rating of “Hold ” on the company shares. Jefferies advised their investors in a research report released on Nov 28, 2016.

Many Wall Street Analysts have commented on Comerica Incorporated. Comerica Incorporated was Downgraded by Sandler O’Neill to ” Hold” on Nov 14, 2016. Robert W. Baird Downgraded Comerica Incorporated on Nov 10, 2016 to ” Neutral”, Price Target of the shares are set at $52.Company shares were Reiterated by RBC Capital Mkts on Oct 19, 2016 to “Outperform”, Firm has raised the Price Target to $ 56 from a previous price target of $49 .

On the company’s financial health, Comerica Incorporated reported $0.84 EPS for the quarter, beating the analyst consensus estimate by $ 0.06 according to the earnings call on Oct 18, 2016. Analyst had a consensus of $0.78.Analysts expectations of $ 720.40.During the same quarter in the previous year, the company posted $0.74 EPS.

Comerica Incorporated closed down -0.01 points or -0.02% at $62.16 with 4,66,537 shares getting traded on Friday. Post opening the session at $62.08, the shares hit an intraday low of $61.62 and an intraday high of $62.2 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

Investors should note that on Nov 8, 2016, Comerica Incorporated announced a cash dividend of $0.2300. The company’s management has announced Dec 13, 2016 as the ex-dividend date and fixed the record date on Dec 15, 2016. The payable date has been fixed on Jan 1, 2017.

In a different news, on Nov 25, 2016, Judith S Love (Executive Vice President) sold 96 shares at $62.20 per share price. According to the SEC, on Nov 25, 2016, Michael T Ritchie (Executive Vice President) sold 114 shares at $62.05 per share price. On Nov 25, 2016, Paul R Obermeyer (Executive Vice President) sold 198 shares at $61.96 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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