First Mercantile Trust Co buys $879,681 stake in Comerica Incorporated (CMA)

Comerica Incorporated (CMA) : First Mercantile Trust Co scooped up 8,260 additional shares in Comerica Incorporated during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 7, 2016. The investment management firm now holds a total of 17,960 shares of Comerica Incorporated which is valued at $879,681.Comerica Incorporated makes up approximately 0.12% of First Mercantile Trust Co’s portfolio.

Other Hedge Funds, Including , Simplex Trading boosted its stake in CMA in the latest quarter, The investment management firm added 21,003 additional shares and now holds a total of 30,818 shares of Comerica Incorporated which is valued at $1,509,466. Comerica Incorporated makes up approx 0.20% of Simplex Trading’s portfolio.Telemus Capital reduced its stake in CMA by selling 50 shares or 0.28% in the most recent quarter. The Hedge Fund company now holds 17,879 shares of CMA which is valued at $879,826. Comerica Incorporated makes up approx 0.10% of Telemus Capital’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in CMA by selling 8,396 shares or 23.82% in the most recent quarter. The Hedge Fund company now holds 26,850 shares of CMA which is valued at $1,321,289. Comerica Incorporated makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.Chevy Chase Trust Holdings reduced its stake in CMA by selling 4,492 shares or 2.98% in the most recent quarter. The Hedge Fund company now holds 146,275 shares of CMA which is valued at $7,198,193. Comerica Incorporated makes up approx 0.04% of Chevy Chase Trust Holdings’s portfolio. West Oak Capital added CMA to its portfolio by purchasing 246 company shares during the most recent quarter which is valued at $12,106. Comerica Incorporated makes up approx 0.01% of West Oak Capital’s portfolio.

Comerica Incorporated closed down -0.22 points or -0.45% at $48.98 with 18,26,557 shares getting traded on Friday. Post opening the session at $49.12, the shares hit an intraday low of $48.18 and an intraday high of $49.48 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Comerica Incorporated reported $0.58 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Jul 19, 2016. Analyst had a consensus of $0.69. The company had revenue of $714.00 million for the quarter, compared to analysts expectations of $715.64 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS.

Many Wall Street Analysts have commented on Comerica Incorporated. 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. Company shares were Reiterated by UBS on Jul 20, 2016 to “Neutral”, Firm has raised the Price Target to $ 45 from a previous price target of $41 .

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.

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