Comerica

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

Get Adobe Flash player

Dallas, Texas- based Comerica ( CMA) 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.

If you liked this article you might like

Bank Stocks Move Higher Ahead of Federal Reserve Meeting

CEOs Focused on Tax Reform, Business Roundtable Survey Says

All Eyes on the Godfather of Central Banking as Fed Has Huge Meeting This Week

Chase Hires Amazon Customer-Service Exec as Digital's Rise Reshapes Branches

Here Are Monday's Hottest Stocks as the Dow Reaches New Records