EJF Capital LLC reduced its stake in Comerica Incorporated (NYSE:CMA) by 25.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 300,000 shares of the financial services provider’s stock after selling 100,000 shares during the period. Comerica makes up 2.4% of EJF Capital LLC’s portfolio, making the stock its 14th largest holding. EJF Capital LLC owned approximately 0.17% of Comerica worth $22,878,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Smithfield Trust Co. increased its holdings in Comerica by 2,446.0% in the 2nd 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 last quarter. Zeke Capital Advisors LLC bought a new stake in shares of Comerica in the 3rd quarter worth about $200,000. IBM Retirement Fund bought a new stake in shares of Comerica in the 3rd quarter worth about $200,000. BB&T Corp bought a new stake in shares of Comerica in the 3rd quarter worth about $206,000. Finally, Marshall Wace North America L.P. bought a new stake in shares of Comerica in the 2nd quarter worth about $208,000. Institutional investors own 82.04% of the company’s stock.
A number of analysts have recently weighed in on CMA shares. Nomura boosted their target price on shares of Comerica from $74.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, October 23rd. Morgan Stanley restated an “equal weight” rating and issued a $79.00 target price (up from $76.00) on shares of Comerica in a report on Wednesday, October 4th. Piper Jaffray Companies restated a “hold” rating and issued a $76.00 target price on shares of Comerica in a report on Friday, September 1st. Royal Bank Of Canada restated a “buy” rating and issued a $82.00 target price on shares of Comerica in a report on Friday, September 8th. Finally, Zacks Investment Research downgraded shares of Comerica from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $79.60.
Comerica Incorporated (NYSE CMA) opened at $85.11 on Tuesday. Comerica Incorporated has a 52 week low of $64.04 and a 52 week high of $86.78. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. The company has a market cap of $14,570.60, a PE ratio of 18.91, a P/E/G ratio of 1.92 and a beta of 1.51.
Comerica (NYSE:CMA) last released its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $1.26 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $812.83 million. During the same period in the previous year, the company earned $0.84 EPS. analysts predict that Comerica Incorporated will post 4.85 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be paid a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.41%. Comerica’s dividend payout ratio is presently 27.15%.
In related news, EVP Christine M. Moore sold 3,200 shares of Comerica stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $75.07, for a total transaction of $240,224.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael T. Ritchie sold 4,596 shares of Comerica stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $75.08, for a total transaction of $345,067.68. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.
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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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