Rhumbline Advisers cut its position in shares of Comerica Incorporated (NYSE:CMA) by 0.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 357,002 shares of the financial services provider’s stock after selling 2,049 shares during the quarter. Rhumbline Advisers’ holdings in Comerica were worth $30,991,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of CMA. Toronto Dominion Bank raised its stake in shares of Comerica by 11.4% in the 3rd quarter. Toronto Dominion Bank now owns 66,770 shares of the financial services provider’s stock valued at $5,092,000 after acquiring an additional 6,843 shares during the period. APG Asset Management N.V. raised its stake in shares of Comerica by 23.4% in the 3rd quarter. APG Asset Management N.V. now owns 93,210 shares of the financial services provider’s stock valued at $7,108,000 after acquiring an additional 17,700 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Comerica by 30.1% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 35,236 shares of the financial services provider’s stock valued at $3,049,000 after acquiring an additional 8,154 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Comerica by 3.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 996,123 shares of the financial services provider’s stock valued at $75,956,000 after acquiring an additional 31,136 shares during the period. Finally, Old Mutual Global Investors UK Ltd. purchased a new stake in shares of Comerica in the 3rd quarter valued at approximately $35,346,000. 83.26% of the stock is currently owned by institutional investors.
Shares of Comerica Incorporated (NYSE:CMA) opened at $97.20 on Wednesday. Comerica Incorporated has a 52 week low of $64.04 and a 52 week high of $99.03. The firm has a market cap of $16,904.60, a P/E ratio of 23.54, a P/E/G ratio of 1.49 and a beta of 1.47. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58.
Comerica (NYSE:CMA) last announced its earnings results on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.03. Comerica had a net margin of 22.47% and a return on equity of 10.94%. The firm had revenue of $830.00 million for the quarter, compared to the consensus estimate of $819.30 million. During the same period in the prior year, the firm earned $0.92 EPS. analysts predict that Comerica Incorporated will post 6.56 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Wednesday, March 14th. Comerica’s dividend payout ratio (DPR) is presently 29.06%.
In other Comerica news, EVP Megan D. Burkhart sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The shares were sold at an average price of $94.80, for a total transaction of $284,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ralph W. Babb, Jr. sold 65,300 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $97.61, for a total transaction of $6,373,933.00. The disclosure for this sale can be found here. Insiders have sold a total of 211,015 shares of company stock valued at $20,194,360 in the last quarter. 1.10% of the stock is currently owned by company insiders.
CMA has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of Comerica from a “hold” rating to a “strong-buy” rating and set a $104.00 price target on the stock in a research note on Wednesday, January 10th. BMO Capital Markets reissued a “hold” rating and issued a $91.00 price target on shares of Comerica in a research note on Wednesday, December 20th. Vining Sparks reissued a “buy” rating and issued a $97.50 price target on shares of Comerica in a research note on Tuesday, January 16th. Sanford C. Bernstein set a $99.00 price target on shares of Comerica and gave the company a “hold” rating in a research note on Wednesday, January 17th. Finally, SunTrust Banks boosted their price target on shares of Comerica to $98.00 and gave the company a “hold” rating in a research note on Wednesday, January 17th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average 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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