Is Comerica (NYSE:CMA) Now a Sell? Why did Macquarie Downgrade The Stock?

September 8, 2018 - By Jason Dias

Comerica Incorporated (NYSE:CMA) Logo

Investors sentiment decreased to 0.99 in 2018 Q1. Its down 0.01, from 1 in 2017Q4. It dived, as 43 investors sold Comerica Incorporated shares while 172 reduced holdings. 73 funds opened positions while 139 raised stakes. 135.88 million shares or 2.26% less from 139.03 million shares in 2017Q4 were reported.

Thrivent Financial For Lutherans has invested 0.28% of its portfolio in Comerica Incorporated (NYSE:CMA). Veritable L P holds 0.02% or 10,021 shares. California Employees Retirement Sys accumulated 531,733 shares. Royal Financial Bank Of Canada has invested 0.04% of its portfolio in Comerica Incorporated (NYSE:CMA). Contravisory Mngmt holds 0.15% or 4,236 shares in its portfolio. Comerica Securities Incorporated has invested 0.06% in Comerica Incorporated (NYSE:CMA). Invesco reported 3.23 million shares. State Street Corporation has invested 0.08% of its portfolio in Comerica Incorporated (NYSE:CMA). 14,898 were reported by Lmr Prns Llp. Baldwin Brothers Ma has 1,860 shares. Norinchukin Bancorporation The holds 10,682 shares. Assetmark Inc invested in 0.09% or 87,367 shares. Macquarie Group Ltd holds 381,855 shares. Morgan Stanley invested in 409,341 shares or 0.01% of the stock. Eaton Vance has 0% invested in Comerica Incorporated (NYSE:CMA) for 17,005 shares.

Since May 11, 2018, it had 0 insider buys, and 3 insider sales for $7.12 million activity. Guilfoile Peter William sold $108,533 worth of Comerica Incorporated (NYSE:CMA) on Tuesday, May 15.

Comerica (NYSE:CMA) Receives a Downgrade

Shares of New York-listed Comerica (NYSE:CMA) Have been downgraded by equity analysts at Macquarie. Macquarie downgraded their rating for the $16.67 billion market cap company to a “Neutral” from their previous “Outperform” rating.

Comerica Incorporated (NYSE:CMA) Ratings Coverage

Among 17 analysts covering Comerica (NYSE:CMA), 11 have Buy rating, 1 Sell and 5 Hold. Therefore 65% are positive. Comerica has $114 highest and $88 lowest target. $106.20’s average target is 9.17% above currents $97.28 stock price. Comerica had 28 analyst reports since March 13, 2018 according to SRatingsIntel. The stock has “Equal-Weight” rating by Morgan Stanley on Friday, July 20. The firm has “Outperform” rating given on Wednesday, April 18 by BMO Capital Markets. The stock has “Hold” rating by Susquehanna on Tuesday, April 17. The firm has “Buy” rating given on Tuesday, April 17 by Keefe Bruyette & Woods. The firm has “Buy” rating given on Tuesday, April 17 by Stephens. The rating was maintained by Piper Jaffray on Tuesday, April 17 with “Buy”. FBR Capital maintained the shares of CMA in report on Monday, June 11 with “Buy” rating. The stock of Comerica Incorporated (NYSE:CMA) earned “Neutral” rating by Macquarie Research on Friday, September 7. The stock of Comerica Incorporated (NYSE:CMA) has “Outperform” rating given on Wednesday, July 18 by Evercore. The stock of Comerica Incorporated (NYSE:CMA) has “Equal-Weight” rating given on Friday, April 20 by Morgan Stanley.

The stock decreased 0.61% or $0.6 during the last trading session, reaching $97.28. About 1.33M shares traded. Comerica Incorporated (NYSE:CMA) has risen 41.54% since September 8, 2017 and is uptrending. It has outperformed by 28.97% the S&P500.

Analysts await Comerica Incorporated (NYSE:CMA) to report earnings on October, 16. They expect $1.81 earnings per share, up 42.52 % or $0.54 from last year’s $1.27 per share. CMA’s profit will be $310.24 million for 13.44 P/E if the $1.81 EPS becomes a reality. After $1.90 actual earnings per share reported by Comerica Incorporated for the previous quarter, Wall Street now forecasts -4.74 % negative EPS growth.

Comerica Incorporated, through its subsidiaries, provides various financial services and products. The company has market cap of $16.67 billion. The firm operates through three divisions: Business Bank, Retail Bank, and Wealth Management. It has a 18.19 P/E ratio. The Business Bank segment offers various services and products, such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication services to middle market businesses, multinational firms, and governmental entities.

Another recent and important Comerica Incorporated (NYSE:CMA) news was published by Benzinga.com which published an article titled: “Macquarie Downgrades Wells Fargo, Comerica, Sees Peak Bank Margins Ahead” on September 07, 2018.

Comerica Incorporated (NYSE:CMA) Institutional Positions Chart

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