TCW Group Inc. increased its position in Comerica Incorporated (NYSE:CMA) by 4.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,879 shares of the financial services provider’s stock after purchasing an additional 1,714 shares during the period. TCW Group Inc.’s holdings in Comerica were worth $3,270,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of CMA. Exane Derivatives acquired a new position in Comerica in the second quarter worth about $125,000. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC lifted its holdings in Comerica by 0.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,315 shares of the financial services provider’s stock worth $169,000 after acquiring an additional 8 shares during the last quarter. Smithfield Trust Co. increased its stake in shares of Comerica by 2,446.0% during the second quarter. Smithfield Trust Co. now owns 2,546 shares of the financial services provider’s stock valued at $186,000 after acquiring an additional 2,446 shares during the period. Regentatlantic Capital LLC acquired a new position in shares of Comerica during the second quarter valued at approximately $201,000. Finally, BB&T Corp acquired a new position in Comerica in the third quarter worth approximately $206,000. Institutional investors and hedge funds own 82.34% of the company’s stock.
CMA has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Thursday, August 17th. FBR & Co reaffirmed a “buy” rating and issued a $79.00 target price on shares of Comerica in a research note on Friday, September 8th. Royal Bank Of Canada reissued a “buy” rating and set a $82.00 price objective on shares of Comerica in a research report on Friday, September 8th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $81.00 target price on shares of Comerica in a research report on Friday, September 15th. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $79.00 price target on shares of Comerica in a research note on Friday, September 22nd. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $78.00.
In other news, insider Peter William Guilfoile sold 2,928 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $69.50, for a total value of $203,496.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Judith S. Love sold 21,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $69.74, for a total value of $1,464,540.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 52,045 shares of company stock worth $3,680,675. 1.10% of the stock is owned by corporate insiders.
Shares of Comerica Incorporated (NYSE:CMA) traded down $0.46 during trading on Friday, reaching $78.42. The company’s stock had a trading volume of 1,237,600 shares, compared to its average volume of 1,705,706. The company has a market cap of $13,640.00, a P/E ratio of 17.81, a PEG ratio of 1.80 and a beta of 1.50. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. Comerica Incorporated has a 12 month low of $59.15 and a 12 month high of $80.25.
Comerica (NYSE:CMA) last released its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $1.26 EPS for the quarter, beating analysts’ consensus estimates of $1.23 by $0.03. Comerica had a return on equity of 10.35% and a net margin of 24.87%. The company had revenue of $821.00 million during the quarter, compared to analysts’ expectations of $812.83 million. During the same period last year, the business posted $0.84 earnings per share. equities analysts anticipate that Comerica Incorporated will post 4.86 EPS for the current year.
Comerica announced that its Board of Directors has authorized a share buyback plan on Tuesday, July 25th that permits the company to repurchase 5,000,000 shares. This repurchase authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Thursday, December 14th. Comerica’s dividend payout ratio (DPR) is 27.21%.
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Comerica Company Profile
Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services and loan syndication services.
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