Ultime notizie per Comerica (NYSE:CMA) Azioni

Comerica

With assets of around $80 billion, Comerica is primarily a relationship-based commercial bank headquartered in Dallas. In addition to Texas, Comerica's other primary geographies are California and Michigan, with locations also in Arizona and Florida and select businesses operating in several other states as well as Canada and Mexico.

Comerica Inc

CI MUNRO ALTER GLBL GRW SRS UNT ETF

CHINA MINSHNG BK UNSP/ADR by China Minsheng Banking Corp., Ltd.

China Minsheng Banking Corp Ltd

CI MARRET ALTR BND HDG UNT SRS ETF

CHIBOUGAMAU IND ORD by Chibougamau Independant Mines Inc

Chibougamau Independent Mines Inc

CareMax Inc

Wall Street was in positive territory in Friday midday trading, buoyed by upbeat quarterly earnings reports that kept <a href="https://www.benzinga.com/markets">investor sentiment bullish.</a>
Netflix Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NFLX#NASDAQ">NFLX</a>) surged 10% to fresh record highs after delivering a strong earnings beat. The tech-heavy Nasdaq 100 rose 0.8%, pushing its weekly performance into positive territory for the sixth consecutive week.
The S&amp;P 500 and Dow also edged higher, both on track for the sixth straight week of gains, with the Dow flirting with all-time highs.
Gold miners led industry performance as gold prices hit new record levels above $2,700 per ounce. The VanEck Gold Miners ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GDX#NYSE">GDX</a>) soared over 4%, hitting the highest level in over four years. Friday is poised to mark the fourth straight session of gains for both gold and silver, with silver jumping over 3%, heading for its best day since late September.
West Texas Intermediate (WTI) crude prices tumbled more than 2%, slipping below the $70-per-barrel mark. WTI is down over 8% for the week, on pace for its worst weekly decline since January.
Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) climbed 2.8% to above $68,800.
<h3 class="wp-block-heading">Friday&#8217;s Performance In Major US Indices, ETFs</h3>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day % change</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,352.25</td>
<td>0.8%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,870.75</td>
<td>0.5%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>43,300.82</td>
<td>0.1%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,279.45</td>
<td>-0.1%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated at 12:55 p.m. ET</figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent101824&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.5% to $585.12.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.1% higher to $433.01.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) rose 0.8% to $495.21.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) stalled at $226.03.</li>
<li>The Communication Services Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLC#NYSE">XLC</a>) outperformed, up 0.9%. The Energy Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLE#NYSE">XLE</a>) lagged, down 0.6%.</li>
</ul>
<h3 class="wp-block-heading">Friday&#8217;s Stock Movers</h3>
<ul>
<li>Stocks moving in reaction to earnings reports were Intuitive Surgical Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ISRG#NASDAQ">ISRG</a>), up over 9%, Crown Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CCK#NYSE">CCK</a>), up over 4%, Western Alliance Bancorporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>), down 6%, American Express Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AXP#NYSE">AXP</a>), down 2.4%, Procter &amp; Gamble Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PG#NYSE">PG</a>) down 0.4%, Schlumberger N.V. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SLB#NYSE">SLB</a>) down 3.3%, Fifth Third Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>), down 1.7%, Ally Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALLY#NYSE">ALLY</a>), down 1% and Comerica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>), up 4%. </li>
<li>Lamb Weston Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>) soared 10% following a report indicating that activist investor&nbsp;Jana Partners&nbsp;has built a 5% stake in the company.</li>
<li>CVS Health Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) fell over 6% after the company replaced its CEO and cut its third-quarter outlook.</li>
</ul>
Read Next:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41406623/netflix-should-continue-to-outperform-6-analysts-on-streaming-stocks-q3-earnings">Netflix &#8216;Should Continue To Outperform&#8217;: 6 Analysts On Streaming Stock&#8217;s Q3 Earnings</a></li>
</ul>
Photo via Shutterstock.

Analyst Color

Equities

Sector ETFs

Broad U.S. Equity ETFs

Treasuries

Econ #s

Markets

Tech

ETFs

$BTC

ALLY

SPDR Dow Jones Industrial Average ETF Trust

FITB

Market Vectors ETF Trust Market Vectors Gold Miners

ISRG

NFLX

Stocks Rise, Netflix Soars To Record Highs, Oil Falls Below $70, Gold Miners Rally: What's Driving Markets Friday?

WIIM

Comerica shares are trading higher following a Q3 earnings beat.

Earnings

News

Comerica Q3 2024 Adj. EPS $1.37 Beats $1.16 Estimate, Sales $811.000M Miss $811.617M Estimate

Comerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) is gearing up to announce its quarterly earnings on Friday, 2024-10-18. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Comerica will report an earnings per share (EPS) of $1.16.
The market awaits Comerica's announcement, with hopes high for news of surpassing estimates and providing upbeat guidance for the next quarter.
It's important for new investors to understand that guidance can be a significant driver of stock prices.
<h3>Past Earnings Performance</h3>
Last quarter the company beat EPS by $0.34, which was followed by a 0.0% drop in the share price the next day.
Here's a look at Comerica's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q2 2024</th>
<th>Q1 2024</th>
<th>Q4 2023</th>
<th>Q3 2023</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>1.19</td>
<td>1.11</td>
<td>1.36</td>
<td>1.69</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>1.53</td>
<td>1.29</td>
<td>1.46</td>
<td>1.84</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-10.0%</td>
<td>2.0%</td>
<td>1.0%</td>
<td>-9.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1729173655_0.png" alt="eps graph" />
<h3>Stock Performance</h3>
Shares of Comerica were trading at $62.32 as of October 16. Over the last 52-week period, shares are up 66.02%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release. 
<a href="https://www.benzinga.com/quote/CMA/earnings">To track all earnings releases for Comerica visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What's Next: Comerica's Earnings Preview

JP Morgan analyst Steven Alexopoulos maintains Comerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) with a Neutral and raises the price target from $57 to $65.

Price Target

Analyst Ratings

JP Morgan Maintains Neutral on Comerica, Raises Price Target to $65

As U.S. banks prepare to report their third-quarter earnings, investor attention is focused on the potential for a soft landing in the economy, Federal Reserve rate cuts, and <a href="https://www.benzinga.com/topic/banks">their impact on bank valuations. </a>
Analysts at Bank of America remain cautiously optimistic about the outlook for bank stocks. They predict that a soft-landing scenario could trigger a rebound in customer activity, improve loan growth, and positively drive higher price-to-earnings (P/E) multiples for the sector. However, macro uncertainties, including Fed policy shifts and the upcoming U.S. elections, temper the enthusiasm.
Bank of America equity analyst Ebrahim H. Poonawala highlighted in a note Monday that rate cuts could be &#8220;structurally bullish&#8221; for bank earnings per share (EPS) outlooks and stock P/E multiples. A softer rate environment is expected to reinvigorate customer activity, particularly in investment banking, mortgage lending, and loan growth.
However, lower interest rates are expected to negatively impact &#8220;asset-sensitive banks&#8221; as loan yields will drop.
Also Read: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41212796/tesla-robotaxi-day-preview-move-over-autonomous-vehicles-analyst-says-this-positive">Tesla Robotaxi Day Preview: Move Over Autonomous Vehicles, Analyst Says This &#8216;Positive Catalyst&#8217; Could Be More Important</a>
<h3 class="wp-block-heading">Political Risks Loom Large Ahead of Elections</h3>
The upcoming U.S. election adds an additional layer of uncertainty for banks. 
&#8220;A&nbsp;Trump win is likely seen as positive for relief on the regulatory/M&amp;A fronts.&nbsp;Democratic sweep likely most negative outcome for the sector given potential for higher taxes, more of the same (or worse) on regulatory changes,&#8221; analysts wrote.
While current valuations appear cautiously optimistic about a soft landing, political outcomes could trigger volatile movements in the sector. A Trump win would likely lead to a &#8220;knee-jerk&#8221; positive reaction in bank stocks, while a Democratic win could weigh on sentiment.
<h3 class="wp-block-heading">Regional Banks Preferred Over Money Center Banks</h3>
For the third quarter of 2024, the investment bank favored regional banks, as tracked by the SPDR S&amp;P Regional Banking ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KRE#NYSE">KRE</a>), over large money center banks, citing &#8220;better defensibility of net interest income (NII).&#8221;
Regionals have greater flexibility with deposits, better hedging strategies, and more potential for capital relief as mark-to-market losses on bond books decline. 
Key picks include U.S. Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/USB#NYSE">USB</a>), Western Alliance (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>), PNC Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PNC#NYSE">PNC</a>), Fifth Third (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FITB#NASDAQ">FITB</a>), M&amp;T Bank (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTB#NYSE">MTB</a>), and Truist Financial (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TFC#NYSE">TFC</a>).
First Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBP#NYSE">FBP</a>) is seen as the &#8220;best positioned to navigate current rate expectations,&#8221; while Texas Capital Bancshares Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TCBI#NASDAQ">TCBI</a>) is the most impacted.
On Monday, Bank of America also downgraded Comerica Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) from &#8220;Neutral&#8221; to &#8220;Underperform,&#8221; reducing the price target from $55 to $52. Analyst Brandon Berman highlighted that the positive rate trade underpinning Comerica &#8220;has run its course,&#8221; and the stock now trades above the high end of its historical range, not reflecting the risk of downward earnings revisions.
Looking ahead, Friday, Oct. 11, will see key earnings reports from JPMorgan Chase (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/JPM#NYSE">JPM</a>), Wells Fargo Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WFC#NYSE">WFC</a>), and Bank of New York Mellon (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BNY#NYSE">BNY</a>).
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</ul>
Image created using artificial intelligence via Midjourney.

Large Cap

Mid Cap

Small Cap

Federal Reserve

TCBI

US Banks Earnings Preview: Soft-Landing Hopes, Interest Rate Cuts, Key Catalysts For Stocks

Goldman Sachs analyst Ryan Nash maintains Comerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) with a Buy and raises the price target from $55 to $63.

Goldman Sachs Maintains Buy on Comerica, Raises Price Target to $63

B of A Securities analyst Ebrahim Poonawala downgrades Comerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) from Neutral to Underperform and lowers the price target from $55 to $52.

Downgrades

B of A Securities Downgrades Comerica to Underperform, Lowers Price Target to $52

Evercore ISI Group analyst John Pancari maintains Comerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) with a In-Line and raises the price target from $58 to $64.

Evercore ISI Group Maintains In-Line on Comerica, Raises Price Target to $64

Morgan Stanley analyst Manan Gosalia maintains Comerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) with a Equal-Weight and raises the price target from $61 to $63.

Morgan Stanley Maintains Equal-Weight on Comerica, Raises Price Target to $63

Kevin Merritt, the research director at Wedbush Securities,<a href="https://www.benzinga.com/premarket-prep"> joined Benzinga's PreMarket Prep Wednesday </a>and highlighted the firm's top bank picks, opportunities in beaten-down names and more. Merritt also spoke about the adoption of AI, and which companies will benefit from the technology in the medium to long term. Merritt pointed out that despite the rally in large-cap techs largely driven by AI, it's a "mixed bag" in regards to which companies are the winners and losers of machine learning. 
<figure class="wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio"> 
<div class="wp-block-embed__wrapper">
<iframe loading="lazy" title="Slow And Steady &#x7C; PreMarket Prep" width="500" height="281" src="https://www.youtube.com/embed/qvFe8gmisfo?start=1782&#038;feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" referrerpolicy="strict-origin-when-cross-origin" allowfullscreen></iframe>
</div>
</figure>
"I do think there's going to be a fairly heated debate about who else benefits or loses… IT services right now is quite a mixed bag," Merritt said. "The likes of Accenture has had some tough quarters over the last year… quite a bit of debate about cannibalization vs opportunity." Merritt highlighted Palantir Technologies Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLTR#NASDAQ">PLTR</a>) as a company that has already capitalized on AI growth, while others, like Accenture Plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ACN#NYSE">ACN</a>), are expected to take longer to realize revenue gains from AI adoption. But, Merritt said that as more corporations adopt AI, IT and tech consulting companies like Accenture should benefit in the long term. Read Also: <a href="https://www.benzinga.com/general/entertainment/24/09/41024168/bill-gates-uses-chatgpt-daily-microsoft-founder-shares-what-he-loves-most-about-ai-chatbot">Bill Gates Uses ChatGPT Daily: Microsoft Founder Shares What He Loves Most About AI Chatbot</a> Outside of tech and AI, Merritt pointed to the regional banking sector as one to watch. He said that Wedbush has recently become more bullish on the sector as economic conditions stabilize as the Fed cuts interest rates. "We have been quite cautious on the regional and mid-cap bank group for the past couple of years and we just recently in the past couple of months turned to a more balanced, neutral sector view,&#8221; Merritt said. &#8220;And the thought being that to the extent the economy is able to hang in there, credit metrics don't exhibit too much deterioration, and you see rates move in a more favorable direction, it's appropriate to have a more balanced stance." Merritt highlighted Western Alliance Bancorp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WAL#NYSE">WAL</a>) as a name that Wedbush analysts recently selected for the firm's "Best Ideas" list. Merritt also mentioned Comerica Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) as a regional bank that Wedbush upgraded. Keep Reading: <a href="https://www.benzinga.com/markets/equities/24/08/40581306/can-regional-banks-outperform-large-institutions-as-fed-rate-cuts-loom-small-banks-are-plenty-ch">Can Regional Banks Outperform Large Institutions As Fed Rate Cuts Loom? &#8216;Small Banks Are Plenty Cheap,&#8217; But… </a> Merritt and the PreMarket Prep hosts also talked about some beaten-down retail investor favorites like Starbucks Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>), Nike Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NKE#NYSE">NKE</a>) and Celsius Holdings (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>). Merritt said that he believes newly-appointed Starbucks CEO Brian Niccol will have a &#8220;heavy lift&#8221; to turn the story around, but that there could be "strategic value" in Celsius's stock. 
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Image created using artificial intelligence via Midjourney.

Exclusives

Interview

General

CELH

PLTR

SBUX

AI's Uneven Growth, Regional Bank Picks, And Beaten-Down Retail Stocks In Focus As Wedbush Analyst Shares Insights

Comerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) underwent analysis by 14 analysts in the last quarter, revealing a spectrum of viewpoints from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">8</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">5</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
The 12-month price targets assessed by analysts reveal further insights, featuring an average target of $58.86, a high estimate of $75.00, and a low estimate of $50.00. Witnessing a positive shift, the current average has risen by 7.17% from the previous average price target of $54.92.
<img src="https://www.benzinga.com/files/images/story/2024/1727204519_0.png" alt="price target chart" />
<h2>Exploring Analyst Ratings: An In-Depth Overview</h2>
The standing of Comerica among financial experts becomes clear with a thorough analysis of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>David Chiaverini</td>
<td>Wedbush</td>
<td>Raises</td>
<td>Outperform</td>
<td>$75.00</td>
<td>$52.00</td>
</tr>
<tr>
<td>Brandon King</td>
<td>Truist Securities</td>
<td>Raises</td>
<td>Hold</td>
<td>$66.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>Terry McEvoy</td>
<td>Stephens &amp; Co.</td>
<td>Maintains</td>
<td>Overweight</td>
<td>$58.00</td>
<td>$58.00</td>
</tr>
<tr>
<td>Peter Winter</td>
<td>DA Davidson</td>
<td>Maintains</td>
<td>Neutral</td>
<td>$55.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Christopher Mcgratty</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Raises</td>
<td>Outperform</td>
<td>$69.00</td>
<td>$50.00</td>
</tr>
<tr>
<td>Manan Gosalia</td>
<td>Morgan Stanley</td>
<td>Raises</td>
<td>Equal-Weight</td>
<td>$61.00</td>
<td>$50.00</td>
</tr>
<tr>
<td>Manan Gosalia</td>
<td>Morgan Stanley</td>
<td>Lowers</td>
<td>Equal-Weight</td>
<td>$50.00</td>
<td>$53.00</td>
</tr>
<tr>
<td>Jon Arfstrom</td>
<td>RBC Capital</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$56.00</td>
<td>$58.00</td>
</tr>
<tr>
<td>Scott Siefers</td>
<td>Piper Sandler</td>
<td>Raises</td>
<td>Neutral</td>
<td>$52.00</td>
<td>$51.00</td>
</tr>
<tr>
<td>Jason Goldberg</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Underweight</td>
<td>$56.00</td>
<td>$59.00</td>
</tr>
<tr>
<td>Brandon King</td>
<td>Truist Securities</td>
<td>Lowers</td>
<td>Hold</td>
<td>$53.00</td>
<td>$55.00</td>
</tr>
<tr>
<td>Christopher Mcgratty</td>
<td>Keefe, Bruyette &amp; Woods</td>
<td>Lowers</td>
<td>Market Perform</td>
<td>$56.00</td>
<td>$58.00</td>
</tr>
<tr>
<td>Michael Rose</td>
<td>Raymond James</td>
<td>Announces</td>
<td>Outperform</td>
<td>$60.00</td>
<td>-</td>
</tr>
<tr>
<td>Steven Alexopoulos</td>
<td>JP Morgan</td>
<td>Lowers</td>
<td>Neutral</td>
<td>$57.00</td>
<td>$62.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to Comerica. This insight gives a snapshot of analysts' perspectives on the current state of the company.</li>
<li>Rating: Analyzing trends, analysts offer qualitative evaluations, ranging from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of Comerica compared to the broader market.</li>
<li>Price Targets: Analysts navigate through adjustments in price targets, providing estimates for Comerica's future value. Comparing current and prior targets offers insights into analysts' evolving expectations.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of Comerica's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/CMA/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on Comerica analyst ratings.</a>
<h2>Delving into Comerica's Background</h2>
Comerica is a financial services company headquartered in Dallas. It is primarily focused on relationship-based commercial banking. In addition to Texas, Comerica's other primary geographies are California and Michigan, with locations also in Arizona and Florida and select businesses operating in several other states as well as Canada and Mexico.
<h3>Comerica's Financial Performance</h3>
Market Capitalization Analysis: Falling below industry benchmarks, the company's market capitalization reflects a reduced size compared to peers. This positioning may be influenced by factors such as growth expectations or operational capacity.
Revenue Growth: Comerica's revenue growth over a period of 3 months has faced challenges. As of 30 June, 2024, the company experienced a revenue decline of approximately -10.82%. This indicates a decrease in the company's top-line earnings. When compared to others in the Financials sector, the company faces challenges, achieving a growth rate lower than the average among peers.
Net Margin: Comerica's net margin is impressive, surpassing industry averages. With a net margin of 24.27%, the company demonstrates strong profitability and effective cost management.
Return on Equity (ROE): Comerica's financial strength is reflected in its exceptional ROE, which exceeds industry averages. With a remarkable ROE of 3.5%, the company showcases efficient use of equity capital and strong financial health.
Return on Assets (ROA): Comerica's ROA is below industry standards, pointing towards difficulties in efficiently utilizing assets. With an ROA of 0.25%, the company may encounter challenges in delivering satisfactory returns from its assets.
Debt Management: Comerica's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 1.45.
<h2>Analyst Ratings: Simplified</h2>
Within the domain of banking and financial systems, analysts specialize in reporting for specific stocks or defined sectors. Their work involves attending company conference calls and meetings, researching company financial statements, and communicating with insiders to publish "analyst ratings" for stocks. Analysts typically assess and rate each stock once per quarter.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
Which Stocks Are Analysts Recommending Now?
Benzinga Edge gives you instant access to all major analyst upgrades, downgrades, and price targets. Sort by accuracy, upside potential, and more. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=be8be9arja3be22bz21&amp;utm_source=benzinga-insights">Click here to stay ahead of the market</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

What 14 Analyst Ratings Have To Say About Comerica

Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our <a href="https://www.benzinga.com/analyst-stock-ratings">analyst ratings page</a>.
<ul>
<li>Redburn Atlantic raised the price target for Exxon Mobil Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XOM#NYSE">XOM</a>) from $119 to $120. Redburn Atlantic analyst Peter Low downgraded the stock from Buy to Neutral. Exxon Mobil shares rose 1.8% to close at $117.36 on Monday. <a href="https://www.benzinga.com/quote/xom/analyst-ratings">See how other analysts view this stock.</a></li>
<li>Needham increased the price target for Hut 8 Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HUT#NASDAQ">HUT</a>) from $15 to $16.5. Needham analyst John Todaro maintained a Buy rating. Hut 8 shares gained 3.6% to close at $11.57 on Monday. <a href="https://www.benzinga.com/quote/hut/analyst-ratings">See how other analysts view this stock</a>.</li>
<li>Baird cut McKesson Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCK#NYSE">MCK</a>) price target from $603 to $531. Baird analyst Eric Coldwell downgraded the stock from Outperform to Neutral. McKesson shares fell 0.6% to close at $505.00 on Monday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See </a><a href="https://www.benzinga.com/quote/mck/analyst-ratings">how </a><a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">other analysts view this stock</a>.</li>
<li>Morgan Stanley raised BioNTech SE (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BNTX#NASDAQ">BNTX</a>) price target from $93 to $145. Morgan Stanley analyst Terence Flynn upgraded the stock from Equal-Weight to Overweight. BioNTech shares gained 0.7% to close at $113.05 on Monday. <a href="https://www.benzinga.com/quote/bntx/analyst-ratings">See </a><a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">how other analysts view this </a><a href="https://www.benzinga.com/quote/bntx/analyst-ratings">stock</a><a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">.</a></li>
<li>Wedbush raised Banc of California, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BANC#NYSE">BANC</a>) price target from $14 to $18. Wedbush analyst David Chiaverini upgraded the stock from Neutral to Outperform. Banc of California shares fell 1.4% to close at $14.84 on Monday. <a href="https://www.benzinga.com/quote/banc/analyst-ratings">See </a><a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">how other analysts view this </a><a href="https://www.benzinga.com/quote/banc/analyst-ratings">stock</a>.</li>
<li>Morgan Stanley cut the price target for Maplebear Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CART#NASDAQ">CART</a>) from $45 to $41. Morgan Stanley analyst Brian Nowak maintained an Equal-Weight rating. Maplebear fell 4.6% to close at $40.22 on Monday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See </a><a href="https://www.benzinga.com/quote/cart/analyst-ratings">how other </a><a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">analysts view this stock</a>.</li>
<li>Wedbush raised Comerica Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) price target from $52 to $75. Wedbush analyst David Chiaverini upgraded the stock from Neutral to Outperform. Comerica shares fell 2.1% to close at $60.20 on Monday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See</a><a href="https://www.benzinga.com/quote/cma/analyst-ratings"> how </a><a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">other analysts view this stock</a>.</li>
<li>Piper Sandler cut the price target for Celsius Holdings, Inc.  (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CELH#NASDAQ">CELH</a>) from $50 to $47. Piper Sandler analyst Michael Lavery maintained an Overweight rating. Celsius shares fell 1.1% to close at $32.80 on Monday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See how </a><a href="https://www.benzinga.com/quote/celh/analyst-ratings">other analysts </a><a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">view this stock</a>.</li>
<li>Oppenheimer cut Braze, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRZE#NASDAQ">BRZE</a>) price target from $60 to $51. Oppenheimer analyst Brian Schwartz maintained an Outperform rating. Braze shares fell 4.9% to close at $34.62 on Monday. <a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">See </a><a href="https://www.benzinga.com/quote/brze/analyst-ratings">how </a><a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">other </a><a href="https://www.benzinga.com/quote/brze/analyst-ratings">analysts </a><a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">view this stock</a>.</li>
<li>Susquehanna slashed Light &amp; Wonder, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LNW#NASDAQ">LNW</a>) price target from $92 to $90. Susquehanna analyst Joseph Stauff maintained a Neutral rating. Light &amp; Wonder shares gained 0.1% to close at $112.68 on Monday. <a href="https://www.benzinga.com/quote/lnw/analyst-ratings">See how other </a><a href="https://www.benzinga.com/quote/MSFT/analyst-ratings">analysts view this stock</a>.</li>
</ul>
Considering buying XOM stock? Here&#8217;s what analysts think: 
<figure class="wp-block-image size-large is-resized"><img loading="lazy" decoding="async" width="1024" height="519" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24084729/image-189-1024x519.png" alt="" class="wp-image-563133" style="width:554px;height:auto" srcset="https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24084729/image-189-1024x519.png 1024w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24084729/image-189-300x152.png 300w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24084729/image-189-768x389.png 768w,https://editorial-assets.benzinga.com/wp-content/uploads/2024/09/24084729/image-189.png 1326w" sizes="(max-width: 1024px) 100vw, 1024px" /></figure>
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CART

Exxon Mobil To $120? Here Are 10 Top Analyst Forecasts For Tuesday

Wedbush analyst David Chiaverini upgrades Comerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) from Neutral to Outperform and raises the price target from $52 to $75.

Upgrades

Wedbush Upgrades Comerica to Outperform, Raises Price Target to $75

Fifth Third Bancorp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/fitb#NASDAQ">FITB</a>) shares touched a 52-week high of $43.85 on Thursday following the Federal Reserve&#39;s announcement of a 50-basis points interest rate cut.
The FITB stock closed slightly lower at $43.64, gaining nearly 18% over the past six months. It has outperformed its industry, the S&amp;P 500 Index and its close peers like Comerica Incorporated (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cma#NYSE">CMA</a>) and Bank of America Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bac#NYSE">BAC</a>) in the same time frame.
<h3>Six-Month Price Performance</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/f3/78671.jpg?v=1259988145" />
Image Source: Zacks Investment Research
<h2>Key Drivers Behind FITB Stock&#39;s New 52-Week High</h2>
A major factor for this upward movement of FITB stock can be attributed to the Federal Reserve&#39;s aggressive start to monetary policy easing.
On Wednesday, the central bank signaled two additional rate cuts this year to support the economy. Fed officials further indicated plans for four more cuts in 2025 and two in 2026.
The interest rate cut is a positive development for banks, including Fifth Third, CMA and BAC, which have been struggling with rising funding cost pressures. While higher rates have led to a significant jump in banks&#39; net interest income (NII) the same led to increased funding costs, which squeezed margins.
FITB&#39;s NII has witnessed a three-year (2020-2023) compound annual growth rate of 6.8%. However, the company&#39;s NII declined in the first half of 2024 due to higher funding costs.
So now that the Fed has cut the rates, funding costs will gradually stabilize and eventually start declining, thus supporting FITB&#39;s NII.
<h2>Other Factors Supporting FITB&#39;s Performance</h2>
Raised Guidance: At the Barclays Global Financial Services Conference, FITB raised its third-quarter 2024 outlook. The bank stated that total revenues are now expected to rise 2-3% sequentially in the third quarter from its baseline of $2.2 billion compared with the previous guidance of a 1-2% increase. Also, management updated its non-interest income, now expecting a 3-4% increase from its baseline of $717 million, up from the earlier projection of a 1-2% rise.
Strategic Collaborations: The company has been expanding its embedded payments platform on the back of strategic partnerships, positioning itself for substantial growth in the commercial payments space. Fifth Third&#39;s embedded payments platform, Newline, entered into a collaborative agreement with Trustly in September. This collaboration aims to develop its pay-by-bank arrangements and payments made through the Automated Clearing House&nbsp;and Real Time Payments networks.
In July, the bank announced a collaborative agreement between its embedded payments arm, Newline, and Stripe, a financial infrastructure platform, to expand embedded financial services offerings.
In May 2024, in collaboration with Bottomline, Fifth Third launched Enhanced Payables &mdash; a new payment platform powered by the latter&#39;s business payments network, Paymode-X. This partnership offers customers access to a wide range of payment options, including invoice automation, virtual card payments, premium ACH payments, standard ACH payments, check payments and business-to-consumer payments.
Through such strategic collaborations, the bank anticipates commercial payments to be a $1 billion business in the next five years. This will eventually boost the company&#39;s non-interest income growth over time.
Balance Sheet: The bank has a strong liquidity position. As of June 30, 2024, the company had a total debt (long-term debt and other short-term borrowings) of $19.7 billion and total liquidity (cash and due from banks and other short-term investments) of $23.9 billion. The company&#39;s senior debt enjoyed investment-grade credit ratings of BBB+, A- and Baa1 from Standard &amp; Poor&#39;s, Fitch and Moody&#39;s, respectively. This will likely enable the company to access the debt market at favorable rates.
Impressive Capital Distribution: The company is expected to keep enhancing shareholder value through efficient capital distribution.&nbsp; This month, the company announced a 5.7% rise in quarterly dividend to 37 cents per share. It has increased its dividend five times in the last five years. At present, the company has a dividend payout ratio of 40% with an annualized dividend growth rate of 8.55%.
Similarly, BAC hiked quarterly dividends by 8.3% in July to 26 cents, while CMA has kept its dividend payouts steady at 71 cents per share since February 2023.&nbsp;
In addition to dividends, the company has an impressive share repurchase plan. FITB repurchased 3.5 million of its outstanding common shares in the first half of 2024 as part of the 100-million-share repurchase plan announced on June 18, 2019. As of June 30, 2024, 28.6 million shares remain available under the authorization. Going forward, the company expects to repurchase $200 million worth of shares for each remaining quarter of 2024. Such efforts will enhance shareholder value in the long term.
<h2>Few Concerns Prevail for FITB</h2>
Mounting Expenses: Fifth Third&#39;s non-interest expense saw a five-year CAGR of 2.8%, ending 2023. In the first half of 2024, the non-interest expenses remained flat compared with the same period of last year. Higher compensation and benefits expenses, as well as initiatives, such as branch expansion and digitization, will keep the company&#39;s expense base under pressure in the short term.
Limited Loan Portfolio Diversification: The company&#39;s loan portfolio comprises majorly of commercial loans (61.6% of total portfolio loans and leases as of June 30, 2024). The current rapidly changing macroeconomic backdrop may put some strain on commercial lending. Moreover, in case of any economic downturn, the asset quality of these credit categories might deteriorate. Thus, the lack of loan portfolio diversification is likely to hurt the company&#39;s financials if the economic situation worsens.
<h2>Final Words on FITB</h2>
FITB&#39;s inorganic expansion efforts and a robust balance sheet position, along with the Fed&#39;s recent rate cut, are set to support FITB&#39;s financials in the upcoming period.
<h3>Sales Estimate</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/ff/78672.jpg?v=1445542711" />
Image Source: Zacks Investment Research
<h3>EPS Estimate</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/dd/78673.jpg?v=1818770512" />
Image Source: Zacks Investment Research
<h2>Unlocking Valuation</h2>
FITB stock appears expensive relative to the industry. The company is currently trading at the 12-month trailing price-to-earnings (P/E) F12M ratio of 12.49%, above the industry&#39;s 11.59%.
<h3>P/E F12M</h3>
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/4f/78674.jpg?v=758532752" />
Image Source: Zacks Investment Research
Though the rising expense and lack of diversification in its loan portfolio remain near-term concerns, FITB&#39;s long-term prospects remain bright.
Considering its expensive valuation, prospective investors can keep this Zacks Rank #3 (Hold) stock on their radar and can wait for a better entry point.
<a href="https://www.zacks.com/stock/news/2339412/fitb-stock-hits-52-week-high-on-fed-rate-cut-is-it-worth-retaining?cid=CS-BENZ-FT-analyst_blog|price_surge_/_plunge-2339412">To read this article on Zacks.com click here.</a>

Guidance

Dividends

FITB Stock Hits 52-Week High on Fed Rate Cut: Is It Worth Retaining?

Truist Securities analyst Brandon King maintains Comerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) with a Hold and raises the price target from $53 to $66.

Truist Securities Maintains Hold on Comerica, Raises Price Target to $66

In an aggressive start to its monetary policy easing, the Federal Reserve cut the interest rates by 50 basis points, bringing the fund rates to the 4.75-5% range.
This marked the end of an era of aggressive interest rate hikes to tame &quot;persistent&quot; inflation. The central also indicated two more rate cuts this year, which will bring the Fed funds rate down to 4.4% in 2024.
Following the announcement, the markets&#39; reaction was subdued, and all three major indexes ended in red on Wednesday. On the other hand, indexes related to banks, including the KBW Nasdaq Bank Index and the S&amp;P Banks Select Industry Index closed in green.
The interest rate cut is a positive development for banks like Bank of America (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/bac#NYSE">BAC</a>), Citigroup (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/c#NYSE">C</a>) and Comerica (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cma#NYSE">CMA</a>). Banks have been reeling under increasing funding cost pressure. Though higher rates led to a significant jump in banks&#39; net interest income (NII), the same resulted in increased funding costs, which squeezed the net interest margin.
As interest rates come down, funding costs will gradually stabilize and then decline. Hence, this will alleviate pressure on NIM to some extent.
On the other hand, JPMorgan (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) is expected to witness a fall in NII next year. The company&#39;s president and chief operating officer, Daniel Pinto, during the Barclays Global Financial Services Conference on Sept. 10, warned about a potential decrease in the metric in 2025 because of rate cuts.
<h2>What Else Did the Fed Signal?</h2>
In addition to this year&#39;s further reduction in interest rates, the Fed officials, through its dot plot, signaled four more cuts in 2025 and two in 2026.
This will bring the interest rates close to 2.9% by the end of 2026. It is lower than the 3.1% forecasted during the June FOMC meeting. 
Fed&#39;s Dot Plot
<img alt="Federal Reserve" src="https://staticx-tuner.zacks.com/images/articles/charts/52/78412.jpg?v=538394579" />
Image Source: Federal Reserve
Additionally, the central bank came out with the latest summary of Economic Projects. Per the latest SEP data, the U.S. economy is anticipated to grow at the rate of 2% till 2026.
Moreover, the Fed officials noted that &quot;job gains have slowed and the unemployment rate has moved up but remains low.&quot; They lifted their expected unemployment rate to 4.4% for 2024 from the 4% forecasted at the last update in June.
The central bank lowered the inflation target to 2.3% for 2024 from 2.6% predicted in June.
<h2>How Will Banks Be Impacted?</h2>
Apart from the above-mentioned decrease in funding costs, lower rates mean a rise in loan demand. The lending scenario has been muted as the central bank began tightening its monetary policy in March 2022. This had been hurting banks&#39; financials immensely.
As the rates come down, loan demand is gradually expected to improve. The borrowers who have been on the sidelines because of higher rates are now expected to jump in.
Thus, banks including BAC, C, JPM and CMA are expected to benefit from a solid rebound in loan demand.
Lower rates will also result in a gradual improvement in banks&#39; asset quality as borrowers repay loans.
Nonetheless, all of these are not expected to occur immediately, and investors should not expect a total turnaround in banks&#39; financial performance, at least this year.
<a href="https://www.zacks.com/stock/news/2338546/fed-cuts-interest-rates-by-50bps-what-this-means-for-bank-stocks?cid=CS-BENZ-FT-analyst_blog|industry_focus-2338546">To read this article on Zacks.com click here.</a>

Events

Fed Cuts Interest Rates by 50Bps: What This Means for Bank Stocks

Huntington Bancshares Inc.&#39;s (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/hban#NASDAQ">HBAN</a>) shares rose 2.5% in yesterday&#39;s trading session after the company announced its plans to expand its banking franchise in North Carolina and South Carolina. The bank intends to add more than 350 employees across varied business divisions and launch roughly 55 retail branches within the next five years.
The first branches will be located in Charlotte, Raleigh and Winston-Salem in North Carolina and Charleston, Columbia and Greenville in South Carolina. The bank is currently searching for branch sites, with construction anticipated to begin in 2026.
This move is in alignment with the other banks penetrating the Carolina market, given a rise in the regional population. JPMorgan (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/jpm#NYSE">JPM</a>) and Comerica Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cma#NYSE">CMA</a>) have expanded into the region to deepen their presence.
<h2>HBAN&#39;s Expansion History in Carolinas Market</h2>
Last year, HBAN announced its plans to expand its commercial banking presence in Charlotte. The move aimed at tapping into the high deposit levels in Carolinas. It planned to add a team of experienced bankers to establish relationships with customers in Charlotte to boost its capital and liquidity.
Since the aforementioned announcement, the bank has established five units and 120 relationships in the Carolinas market with an emphasis on verticals like the middle market, small business administration and health care lending.
Similarly, JPM announced its plans to further strengthen its presence in the North and South Carolina regions by establishing new branches and increasing corporate office space in the region. By 2025, the bank intends to have more than 100 branches across both states. Also, CMA announced its focus on Southeast markets in 2022 through the addition of offices in South Carolina and Georgia.
<h2>Huntington&#39;s Strategic Rationale Behind This Expansion</h2>
The company&#39;s expansion will enable clients across the Carolinas to leverage Huntington&#39;s expertise and comprehensive range of personal, wealth, business and commercial banking services.
This move furthers the company&#39;s presence and investment in the region and supports the bank&#39;s strategic plan and long-term growth strategy. The bank aims to capture an estimated $8 billion long-term deposit market.
Huntington&#39;s full-scale retail expansion into the Carolinas complements its ongoing multi-million dollar and multi-year plan to expand its banking franchise in numerous strategic markets, including Denver, Minneapolis and Chicago.
Brant Standridge, consumer and regional banking president at Huntington, stated, &quot;The Carolinas is a fast-growing, highly dynamic region and we are proud to deepen our presence and bring our expertise and capabilities to even more customers in this market.&quot; He added, &quot;the bank&#39;s foray into consumer lending, wealth management and consumer deposits will support continued commercial banking growth in the region.&quot;
<h2>Final Thoughts on HBAN&#39;s Expansion Efforts</h2>
This strategic initiative aligns with the company&#39;s inorganic expansion strategy to gain market share and enhance its profitability. Such moves will bolster the bank&#39;s competitive position. In fact, Huntington is one of the top 20 bank holding companies in the United States and remains focused on acquiring the industry&#39;s best deposit franchise.
The bank&#39;s total deposits witnessed a compound annual growth rate of 16.4% over the four years ended 2023. The uptrend continued in the first half of 2024.
Strengthening the commercial banking business will further enhance the deposit franchise of Huntington. This makes the ongoing expansion efforts a strategic fit for the company.
Year to date, shares of Huntington have risen 15.3% compared with the industry&#39;s gain of 10.4%.&nbsp;
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/0c/77174.jpg?v=1587788860" />
Image Source: Zacks Investment Research
Currently, HBAN carries a Zacks Rank #2 (Buy).
<a href="https://www.zacks.com/stock/news/2334061/hban-stock-rises-on-north-south-carolina-branch-expansion?cid=CS-BENZ-FT-analyst_blog|company_news_finance_sector-2334061">To read this article on Zacks.com click here.</a>

HBAN

HBAN Stock Rises on North & South Carolina Branch Expansion

Stephens &amp; Co. analyst Terry McEvoy reiterates Comerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) with a Overweight and maintains $58 price target.

Reiteration

Stephens & Co. Reiterates Overweight on Comerica, Maintains $58 Price Target

DA Davidson analyst Peter Winter maintains Comerica (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CMA#NYSE">CMA</a>) with a Neutral and maintains $55 price target.

DA Davidson Maintains Neutral on Comerica, Maintains $55 Price Target

Comerica cut to Underperform at BofA on Direct Express transition, NII worries

In a report released today, Jason Goldberg from Barclays maintained a Sell rating on Comerica (CMA – Research Report), with a price target of $56.0...

Comerica (CMA) Gets a Sell from Barclays

RBC Capital analyst Jon Arfstrom maintained a Buy rating on Comerica (CMA – Research Report) on October 8 and set a price target of $66.00. The com...

Comerica (CMA) Gets a Buy from RBC Capital

Bank stocks get a lift from better-than-feared Q3 earnings reports

In this brief video, I review some swing trades setups as we transition into a big earnings period.

Swing Trading Delta, Comerica

Barclays analyst Jason Goldberg maintained a Sell rating on Comerica (CMA – Research Report) today and set a price target of $56.00. The company's ...

Barclays Sticks to Its Sell Rating for Comerica (CMA)

Comerica Q3 2024 Earnings Preview

Here's the major earnings before the open tomorrow

Today, several major companies are expected to report earnings: Autoliv (ALV), Comerica (CMA), Fifth Third Bancorp (FITB), Procter & Gamble (PG), R...

Options Volatility and Implied Earnings Moves Today, October 18, 2024

Comerica Incorporated (CMA) Q3 2024 Earnings Call Transcript

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Press Releases

KKR, CrowdStrike Holdings and GoDaddy Set to Join S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600

Comerica Reports Second Quarter 2024 Earnings Results

Comerica Declares Common and Preferred Stock Dividends

Belle Isle Aquarium to expand hours of operation for the month of August thanks to Comerica Bank

Comerica Bank Officially Opens Great Lakes Campus, Bank's Largest Corporate Office

Comerica to Participate in Barclays Global Financial Services Conference; Announces Details for Conference Call to Review Third Quarter 2024 Earnings

D.R. Horton, Inc. Appoints Three New Independent Directors

Comerica and Detroit Lions Partnership Gains More Than Just First Downs for Local Community

Comerica Bank and Grand Rapids Griffins Teaming Up Again to Benefit Kids' Food Basket

Comerica Reports Third Quarter 2024 Earnings Results

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Grupo Aval Acciones y Valores S.A. ADR (Each representing 20 preferred shares)

Grupo Aval Acciones

Credicorp

Banco BBVA Argentina

Banco Bradesco Sa American Depositary Shares

Bank Bradesco

Banco Bradesco Sa American Depositary Shares (each representing one Common Share)

Banco De Chile

Banco Macro S.A. ADR (representing Ten Class B Common Shares)

Banco Macro

Banco Santander Chile

Banco Santander Brasil SA American Depositary Shares, each representing one unit

Banco Santander

BanColombia

First Citizens BancShares, Inc. - Class A Common Stock

First Citizens BancShares

Fifth Third Bancorp

Grupo Financiero Galicia S.A. - American Depositary Shares, Class B Shares underlying

Grupo Financiero Galicia

Intercorp Financial Services Inc. Common Shares

Intercorp Financial Servs

Inter & Co

KB Financial Group

KeyCorp

Shinhan Financial Group Co Ltd American Depositary Shares

Shinhan Finl Gr

Grupo Supervielle S.A. American Depositary Shares each Representing five Class B shares

Grupo Supervielle

Woori Financial Group Inc. American Depositary Shares (each representing three (3) shares of Common Stock)

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