Comerica (NYSE:CMA) Receives a Downgrade
Stock analysts at Goldman’s equities research division downgraded the rating for shares of Comerica (NYSE:CMA) from a Neutral to a Sell on Thursday morning.
From a total of 29 analysts covering Comerica Inc (NYSE:CMA) stock, 4 rate it a ”Buy”, 3 a “Sell”, and 24 a ”Hold”. This means that 13% of the ratings are positive. The highest target price is $54 while the lowest target price is $35. The mean of all analyst targets is $46.17 with a 8.11% above today’s ($42.55) stock price. Comerica Inc was the topic of 21 analyst reports since July 20, 2015 according to the firm StockzIntelligence Inc. BMO Capital Markets maintained shares on October 19 with “Underperform” rating. Zacks downgraded CMA stock in a recent report from August 26 to “Hold” rating.
Approximately 1.20 million shares of stock traded hands. Comerica Incorporated (NYSE:CMA) has declined 11.46% since May 14, 2015 and is downtrending. It has underperformed by 9.20% the S&P500.
The overall sentiment of institutions has decreased to 0.9 in Q2 2015. Its down 0.01, from 0.91 in 2015Q2. The ratio fall, as 54 institutions have sold all the shares of Comerica Incorporated that they owned while 141 funds have taken shares off the table. 44 funds have purchased shares for the first time while 132 added to their positions. These institutions now hold 157.71 million shares or 5.84% more than the 149.01 million shares they owned in 2015Q2.
The Fund Davide Leone & Partners Investment Co Llp currently is holding shares equating to 6.56% of its total portfolio in Comerica Incorporated representing a total of 1.07 million shares. Another fund,Forest Hill Capital Llc, is holding a total of 870,405 shares equating to 3.39% of their holdings. Additionally, Third Avenue Management Llc has a 2.59 million share stake in Comerica Incorporated which represents 2.9% of their total portfolio. The Fund, Fiduciary Management Inc Wi, based out of Wisconsin, has also built up a stake in the stock, which represents a total of 2.72% of their total portfolio. Finally Quantum Capital Management, a fund which is based in the state of California reported a total holdings of 296,921 shares.
Comerica Incorporated is a financial services company. The company has a market cap of $7.57 billion. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. It has 14.11 P/E ratio. It operates in three business divisions: the Business Bank, the Retail Bank and Wealth Management.
According to Zacks Investment Research, “Comerica Inc. is a registered bank holding company. Its operations made up of three lines of business: Business Bank, Individual Bank and Investment Bank. The Business Bank is comprised of middle market lending, asset-based lending, large corporate banking, treasury management and international financial services. The Individual Bank includes consumer lending, consumer deposit gathering, mortgage loan origination and servicing, small business banking and private banking. The Investment Bank is responsible for the sale of mutual fund and annuity products.”