Can analysts adopt a bullish outlook for Comerica Incorporated (NYSE:CMA)?
Can analysts adopt a bullish outlook for Comerica Incorporated (NYSE:CMA)?
31 December, 2017, 00:18
IBM Retirement Fund acquired a new position in shares of Comerica during the third quarter worth $200,000. Sentinel Asset Management Inc who had been investing in Comerica Inc. for a number of months, seems to be bullish on the $15.10B market cap company. About 786,535 shares traded. It has outperformed by 37.37% the S&P500. Amp Ltd reported 594,665 shares. Employees Retirement Association Of Colorado holds 0.02% or 34,347 shares in its portfolio. Moreover, following the recent Fed interest rate hike, the company raised its prime lending rate to 4.50% from 4.25%., which is likely to further support Comerica's easing margin pressure. The stock increased 0.41% or $0.31 during the last trading session, reaching $75.45. Whittier Trust Com Of Nevada invested in 1,325 shares. Comerica Incorporated (NYSE:CMA) has risen 54.07% since December 30, 2016 and is uptrending. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and nine have given a buy rating to the company. Therefore 24% are positive. Comerica Inc had 103 analyst reports since July 20, 2015 according to SRatingsIntel. Piper Jaffray Companies raised shares of Comerica to a "buy" rating and set a $98.00 price target on the stock in a research report on Friday, December 8th. Also, CFO David E. Duprey sold 59,000 shares of the company's stock in a transaction on Tuesday, January 31st. The rating was maintained by Stifel Nicolaus on Sunday, October 22 with "Buy". Jefferies maintained the stock with "Buy" rating in Thursday, June 8 report. BMO Capital Markets has "Hold" rating and $91.0 target. The company was upgraded on Wednesday, January 20 by FBR Capital. The firm has "Neutral" rating given on Thursday, May 19 by Goldman Sachs.
Traditionally a stock is considered to be oversold when the Relative Strength Index moves below 30.
CMA has been the subject of a number of other research reports. First Commonwealth Financial Corp Pa holds 0.26% or 3,130 shares. 122,562 were reported by Ngam Advsr Limited Partnership. Below is a list of Comerica Incorporated (NYSE:CMA) latest ratings and price target changes. 27,346 were reported by Bontempo Ohly Mngmt. Crow Point Prtn Lc holds 0.01% or 1,000 shares in its portfolio. Sun Life Finance holds 14,271 shares. Trexquant Inv Limited Partnership invested in 0.05% or 2,810 shares. 532,784 are held by Lord Abbett & Co. Verition Fund Management Ltd invested in 16,446 shares or 0.1% of the stock. Sit Invest Associates holds 0% or 400 shares. CIBC Asset Management Inc now owns 19,572 shares of the financial services provider's stock worth $1,433,000 after buying an additional 93 shares during the last quarter. This is backed by the company's impressive earnings surprise history. They expect $0.75 EPS, 0.00% or $0.00 from last year's $0.75 per share. After $0.73 actual EPS reported by Colgate-Palmolive Company for the previous quarter, Wall Street now forecasts 2.74% EPS growth. Insiders own 1.60% of the company's stock. The insider HICKEY DENNIS J sold $5.30M. Marsili Daniel B had sold 14,000 shares worth $1.00 million.
Investors sentiment decreased to 1.06 in Q3 2017. Its down 0.29, from 1.35 in 2017Q2. It worsened, as 43 investors sold Comerica Incorporated shares while 147 reduced holdings. Nomura increased their price objective on shares of Comerica from $74.00 to $86.00 and gave the stock a "neutral" rating in a research report on Monday, October 23rd. Advisor Partners Ltd Liability Com owns 7,309 shares.
Comerica (NYSE:CMA) last announced its quarterly earnings results on Tuesday, October 17th. 997,836 were reported by Century Companies. 10,765 were accumulated by Sigma Planning. Pictet Asset Management holds 93,216 shares. Tcw Grp invested 0.03% of its portfolio in Comerica Incorporated (NYSE:CMA). Wedge Capital Mgmt L Lp Nc stated it has 12,675 shares or 0.01% of all its holdings. Osborne Prtnrs Mgmt Ltd Company accumulated 3,999 shares.
Comerica (NYSE:CMA) opened at $86.54 on Wednesday. Koshinski Asset Management owns 5,500 shares for 0.14% of their portfolio. (NYSE:PG) by 69,400 shares to 463,600 shares, valued at $42.18M in 2017Q3, according to the filing. BKS Advisors LLC bought a new stake in shares of Comerica during the third quarter valued at about $120,000.
Since August 22, 2017, it had 0 buys, and 3 insider sales for $3.10 million activity. 2,928 shares were sold by Guilfoile Peter William, worth $203,508 on Monday, August 28. CMA's profit will be $215.66M for 17.50 P/E if the $1.24 EPS becomes a reality. Based on a recent bid, the stock is trading -1.60% away from it's 52- week high and 35.56% away from its 52 week low.
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