Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its holdings in Comerica Incorporated (NYSE:CMA) by 30.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 35,236 shares of the financial services provider’s stock after buying an additional 8,154 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Comerica were worth $3,049,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in CMA. JPMorgan Chase & Co. lifted its holdings in Comerica by 33.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock worth $507,632,000 after buying an additional 1,681,640 shares during the period. Rockefeller Financial Services Inc. lifted its holdings in Comerica by 14,008.7% in the 4th quarter. Rockefeller Financial Services Inc. now owns 1,446,003 shares of the financial services provider’s stock worth $125,527,000 after buying an additional 1,435,754 shares during the period. Old Mutual Global Investors UK Ltd. purchased a new stake in Comerica in the 3rd quarter worth approximately $35,346,000. Prudential Financial Inc. lifted its holdings in Comerica by 170.2% in the 3rd quarter. Prudential Financial Inc. now owns 662,709 shares of the financial services provider’s stock worth $50,538,000 after buying an additional 417,426 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Comerica by 82.1% in the 3rd quarter. Principal Financial Group Inc. now owns 783,559 shares of the financial services provider’s stock worth $59,754,000 after buying an additional 353,270 shares during the period. Institutional investors and hedge funds own 82.91% of the company’s stock.
Comerica Incorporated (CMA) traded up $0.15 during mid-day trading on Friday, reaching $97.82. The company had a trading volume of 1,308,276 shares, compared to its average volume of 1,570,563. Comerica Incorporated has a one year low of $64.04 and a one year high of $99.03. 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 $16,904.57, a price-to-earnings ratio of 23.69, a PEG ratio of 1.49 and a beta of 1.47.
Comerica (NYSE:CMA) last posted its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.03. Comerica had a return on equity of 10.94% and a net margin of 22.47%. The company had revenue of $830.00 million during the quarter, compared to analyst estimates of $819.30 million. During the same quarter last year, the company earned $0.92 EPS. equities research analysts predict that Comerica Incorporated will post 6.56 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Thursday, March 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 1.23%. The ex-dividend date is Wednesday, March 14th. Comerica’s dividend payout ratio (DPR) is presently 29.06%.
In other Comerica news, insider Peter William Guilfoile sold 1,052 shares of Comerica stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $97.00, for a total value of $102,044.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Curtis C. Farmer sold 18,870 shares of Comerica stock in a transaction on Monday, January 29th. The stock was sold at an average price of $96.08, for a total value of $1,813,029.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 211,015 shares of company stock valued at $20,194,360. 1.10% of the stock is owned by corporate insiders.
Several research firms have weighed in on CMA. BMO Capital Markets upgraded Comerica from a “market perform” rating to an “outperform” rating and set a $111.00 price objective for the company in a report on Friday, February 9th. Royal Bank of Canada reiterated a “buy” rating and issued a $103.00 price objective on shares of Comerica in a report on Wednesday, January 17th. Wedbush increased their price objective on Comerica from $91.00 to $97.00 and gave the stock a “neutral” rating in a report on Wednesday, January 17th. SunTrust Banks raised their target price on Comerica to $98.00 and gave the company a “hold” rating in a research note on Wednesday, January 17th. Finally, Sanford C. Bernstein set a $99.00 target price on Comerica and gave the company a “hold” rating in a research note on Wednesday, January 17th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Comerica presently has a consensus rating of “Hold” and a consensus target price of $92.37.
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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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