Banking

Comerica Stock Relative Strength Rating Tops Key Benchmark; Profit Growth Continues To Soar

Super regional bank Comerica is joining the party. It’s been putting up strong profit growth numbers and has turned the corner on sales growth. Additionally, Comerica stock has enjoyed a long run-up from its Covid market crash low last year. It rose about 200% from its March 2020 low through May of this year. It’s pulled back lately in sync with market consolidation. On Thursday, Comerica (CMA) reached an important technical milestone, with its Relative Strength (RS) Rating moving into the 80-plus percentile with an upgrade to 81, a rise from 78 the day before.

The 81 RS Rating means Comerica stock has outperformed 81% of all stocks on key metrics over the past year. Over 100 years of market history shows that the best-performing stocks typically have an RS Rating north of 80 in the early stages of their moves.

Comerica Stock Sees Gains On Strong Profits

Comerica saw both earnings and sales growth rise last quarter. Earnings-per-share shot up 176% to $2.32. That came on the heels of a 652% pop in EPS growth the prior quarter. Revenue in its most recent quarter edged up 1% to $763 million. The rise came after several quarter of lower sales, although its sales growth has improved for four straight quarters.

The company earns the No. 6 rank among its peers in the Banks-Super Regional industry group. Fifth Third Bancorp (FITB) and KeyCorp (KEY) are also among the group’s highest-rated stocks.


Looking For Winning Stocks? Try This Simple Routine


Comerica stock is working on a consolidation with a 79.96 entry. See if it can break out in volume at least 40% higher than normal.

When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.

IBD’s unique RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock’s price action over the last 52 weeks matches up against other publicly traded companies.

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