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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Comerica Leads on Sleepy Day for Financials

NEW YORK (TheStreet) -- Comerica (CMA) was one of the few financial stocks that saw above average trading volumes Friday ahead of the Presidents Day weekend.

Shares of Dallas-based Comerica were up by 2.12% to close at $47.63 on volumes of 1.95 million shares as the bank filed its annual 10-K and received an upgrade from Citigroup on expected higher loan growth throughout the U.S. Comerica has averaged 1.38 million shares changing hands each day over the past three months.

"Regional bank stocks have rallied over the past several quarters as they anticipated the benefit to earnings from higher interest rates. While that rally took place despite lackluster loan growth, accelerating loan growth will likely be the next catalyst to the push the stocks higher. Although it is by no means overwhelming, we see enough circumstantial evidence that loan growth may be on the verge of accelerating such that we think investors should increase their exposure to the regional bank space. As a result, we're upgrading CMA to Buy," wrote Citigroup analyst Josh Levin in lifting his Comerica recommendation to buy from neutral.

Other financial stocks were essentially flat. Perennial volume leader Bank of America  (BAC) saw shares fall 0.30% to $16.70.

Economic indicators of note included the University of Michigan Consumer Confidence index, which came in at 81.2 in February compared to expectations for a 1 point drop to 80.2.

"This was unchanged vs. Jan. and just slightly off the top of the recent range. It's notable that confidence was unchanged in light of the pullback in equities seen since the beginning of the year (although there was a bounce in early Feb)," wrote CRT Capital Group government bond strategist Ian Lyngen in a client email.dfcm

Follow @dan_freed

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,051.12 +71.99 0.42%
S&P 500 1,989.78 +3.27 0.16%
NASDAQ 4,522.9120 -3.57 -0.08%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs