Engineers Gate Manager LP boosted its holdings in shares of Comerica Incorporated (NYSE:CMA) by 100.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,094 shares of the financial services provider’s stock after acquiring an additional 8,046 shares during the period. Engineers Gate Manager LP’s holdings in Comerica were worth $1,227,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also bought and sold shares of the business. Zeke Capital Advisors LLC acquired a new stake in shares of Comerica in the 3rd quarter valued at about $200,000. IBM Retirement Fund acquired a new stake in shares of Comerica in the 3rd quarter valued at about $200,000. BB&T Corp acquired a new stake in shares of Comerica in the 3rd quarter valued at about $206,000. Marshall Wace North America L.P. acquired a new stake in shares of Comerica in the 2nd quarter valued at about $208,000. Finally, HGK Asset Management Inc. acquired a new stake in shares of Comerica in the 2nd quarter valued at about $209,000. Hedge funds and other institutional investors own 82.04% of the company’s stock.
In other Comerica news, EVP Christine M. Moore sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $75.07, for a total transaction of $240,224.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael T. Ritchie sold 4,596 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $75.08, for a total value of $345,067.68. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.
Several research firms have issued reports on CMA. Zacks Investment Research raised Comerica from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research note on Monday. B. Riley reissued a “buy” rating and issued a $84.00 price target on shares of Comerica in a research note on Monday, December 4th. Piper Jaffray Companies raised Comerica to a “buy” rating and set a $98.00 price target on the stock in a research note on Friday, December 8th. ValuEngine downgraded Comerica from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Finally, SunTrust Banks reissued a “hold” rating and issued a $83.00 price target on shares of Comerica in a research note on Wednesday, November 29th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the company’s stock. Comerica has a consensus rating of “Hold” and a consensus price target of $81.38.
Shares of Comerica Incorporated (NYSE:CMA) opened at $85.87 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $14,725.38, a PE ratio of 19.11, a P/E/G ratio of 1.94 and a beta of 1.51. Comerica Incorporated has a 12-month low of $64.04 and a 12-month high of $86.78.
Comerica (NYSE:CMA) last announced its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. The firm had revenue of $821.00 million for the quarter, compared to the consensus estimate of $812.83 million. Comerica had a return on equity of 10.35% and a net margin of 24.87%. During the same quarter in the previous year, the business earned $0.84 earnings per share. research analysts expect 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. Shareholders 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 1.40%. The ex-dividend date of this dividend is Thursday, December 14th. Comerica’s dividend payout ratio (DPR) is presently 27.15%.
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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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