This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 Financial Stocks Hedge Funds Are Buying

Comerica

Content on this page requires a newer version of Adobe Flash Player.

Get Adobe Flash player

Dallas, Texas- based Comerica (CMA - Get Report) saw $100 million worth of net hedge fund purchases. Citadel was the most prominent buyer, adding 4.9 million shares of the super-regional bank to its portfolio.

Comerica has been growing through a combination of strong commercial lending activity and acquisitions. While its outlook for loan growth is cautious, the bank expects to triple its market share in Houston, thanks to its acquisition of Sterling Bancshares which it completed in July.

"While trends within certain specialized areas like mortgage finance and auto floor plan could create some quarter-to-quarter volatility, with the run-off of commercial real estate slowing and new opportunities within the Sterling customer base, we see Comerica producing above-peer loan growth over the next year," Oppenheimer analyst Terry McEvoy wrote in a recent note following a meeting with the management.

Shares of Comerica have plunged 40% year-to-date.

The stock is rated outperform by 15 out of 33 analysts. 16 maintain a hold rating on the stock, while 2 have an underperform rating.

5 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
SYM TRADE IT LAST %CHG
BAC $16.29 -0.37%
BRK.B $143.78 -0.54%
C $52.83 -0.97%
CMA $48.09 0.29%
JPM $63.92 -0.75%

Markets

DOW 17,841.98 -86.22 -0.48%
S&P 500 2,080.15 -9.31 -0.45%
NASDAQ 4,919.6440 -19.6830 -0.40%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs