Investment firm Oak Thistle LLC recently acquired a new position in Comerica Incorporated (CMA), joining the majority stake of institutional shareholders who control about 87% of the company. Financial institutions such as Truist Securities, Piper Sandler, DA Davidson, and Keefe Bruyette & Woods have raised their price targets for the CMA, predicting the stock to showcase growth. Despite challenges due to higher expenses and lower deposits, CMA's Q2 earnings and revenues beat estimates, reflecting strong EPS growth and asset accumulation, as indicated by AE Wealth Management's $7.44 million stake. Furthermore, Eric Teal has been named CMA's Chief Investment Officer, adding a layer of senior leadership. Comerica has announced the full redemption of its Series A Preferred Stock and related depositary shares, showing a confident financial strategy. However, some remain skeptical about Comerica's ability to sustain growth due to challenging economic conditions and muted loan demands. News about Comerica's strategic redeeming of their preferred stock and the food drive initiative with Kalamazoo Growlers has portrayed the company in a positive light. Finally, State Street Corp's strategic acquisition of Comerica Inc. shares attests to CMA's perceived potential in the market.
Comerica Incorporated CMA News Analytics from Thu, 17 Oct 2024 07:00:00 GMT to Fri, 25 Jul 2025 09:42:22 GMT -
