Los Angeles Capital Management & Equity Research Inc. grew its holdings in shares of Comerica Incorporated (NYSE:CMA) by 218.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,263 shares of the financial services provider’s stock after purchasing an additional 74,916 shares during the quarter. Los Angeles Capital Management & Equity Research Inc. owned about 0.06% of Comerica worth $8,332,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Comerica by 6.7% in the 2nd quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock worth $1,330,147,000 after acquiring an additional 1,142,275 shares during the period. BlackRock Inc. raised its holdings in Comerica by 0.5% in the 2nd quarter. BlackRock Inc. now owns 11,319,900 shares of the financial services provider’s stock worth $829,069,000 after acquiring an additional 51,426 shares during the period. State Street Corp raised its holdings in Comerica by 11.3% in the 2nd quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock worth $731,672,000 after acquiring an additional 1,010,965 shares during the period. JPMorgan Chase & Co. raised its holdings in Comerica by 22.3% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,040,167 shares of the financial services provider’s stock worth $369,142,000 after acquiring an additional 919,333 shares during the period. Finally, TIAA CREF Investment Management LLC grew its position in Comerica by 1.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,204,216 shares of the financial services provider’s stock worth $161,437,000 after purchasing an additional 34,144 shares during the last quarter. Institutional investors and hedge funds own 82.04% of the company’s stock.
In other Comerica news, insider Michael T. Ritchie sold 4,596 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $75.08, for a total transaction of $345,067.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Christine M. Moore sold 3,200 shares of the stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $75.07, for a total transaction of $240,224.00. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
Shares of Comerica Incorporated (CMA) traded up $1.33 on Monday, reaching $85.11. 3,165,900 shares of the company traded hands, compared to its average volume of 1,706,038. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00. Comerica Incorporated has a fifty-two week low of $64.04 and a fifty-two week high of $86.78. The firm has a market capitalization of $14,960.00, a PE ratio of 18.91, a price-to-earnings-growth ratio of 1.92 and a beta of 1.50.
Comerica (NYSE:CMA) last posted its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.23 by $0.03. Comerica had a net margin of 24.87% and a return on equity of 10.35%. The firm had revenue of $821.00 million for the quarter, compared to analyst estimates of $812.83 million. During the same period in the prior year, the firm posted $0.84 earnings per share. equities research analysts predict that Comerica Incorporated will post 4.85 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, December 14th. Comerica’s dividend payout ratio is 27.21%.
Several research firms have issued reports on CMA. ValuEngine lowered shares of Comerica from a “buy” rating to a “hold” rating in a research report on Friday. SunTrust Banks restated a “hold” rating and issued a $83.00 price target on shares of Comerica in a research report on Wednesday, November 29th. Nomura raised their price target on shares of Comerica from $74.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. Zacks Investment Research lowered shares of Comerica from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, Macquarie upgraded shares of Comerica from a “neutral” rating to an “outperform” rating and set a $90.00 target price on the stock in a research report on Friday, November 17th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $79.60.
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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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