Two Sigma Advisers LP trimmed its holdings in Comerica Incorporated (NYSE:CMA) by 1.1% during the fourth quarter, HoldingsChannel reports. The firm owned 598,991 shares of the financial services provider’s stock after selling 6,400 shares during the period. Two Sigma Advisers LP’s holdings in Comerica were worth $51,998,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. raised its position in shares of Comerica by 2.2% during the 4th quarter. BlackRock Inc. now owns 11,882,946 shares of the financial services provider’s stock valued at $1,031,560,000 after buying an additional 255,109 shares during the period. JPMorgan Chase & Co. raised its position in shares of Comerica by 33.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock valued at $507,632,000 after buying an additional 1,681,640 shares during the period. Bank of New York Mellon Corp raised its position in shares of Comerica by 6.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,951,330 shares of the financial services provider’s stock valued at $169,396,000 after buying an additional 113,366 shares during the period. Geode Capital Management LLC raised its position in shares of Comerica by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 1,910,721 shares of the financial services provider’s stock valued at $165,526,000 after buying an additional 21,862 shares during the period. Finally, Neuberger Berman Group LLC raised its position in shares of Comerica by 9.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,642,665 shares of the financial services provider’s stock valued at $125,270,000 after buying an additional 147,497 shares during the period. 83.05% of the stock is currently owned by institutional investors and hedge funds.
In related news, President Curtis C. Farmer sold 18,870 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $96.08, for a total value of $1,813,029.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter William Guilfoile sold 1,052 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $97.00, for a total transaction of $102,044.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 272,006 shares of company stock valued at $26,250,992. 1.10% of the stock is owned by corporate insiders.
Comerica Incorporated (CMA) opened at $97.72 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $17,177.64, a price-to-earnings ratio of 23.66, a P/E/G ratio of 1.51 and a beta of 1.39. Comerica Incorporated has a 12 month low of $64.04 and a 12 month high of $102.66.
Comerica (NYSE:CMA) last issued its earnings results on Tuesday, January 16th. The financial services provider reported $1.28 EPS for the quarter, topping analysts’ consensus estimates of $1.25 by $0.03. The firm had revenue of $830.00 million during the quarter, compared to the consensus estimate of $819.30 million. Comerica had a net margin of 22.47% and a return on equity of 10.94%. During the same quarter in the previous year, the firm posted $0.92 earnings per share. analysts expect that Comerica Incorporated will post 6.57 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Thursday, March 15th will be paid a dividend of $0.30 per share. The ex-dividend date is Wednesday, March 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.23%. Comerica’s payout ratio is currently 29.06%.
Several analysts have recently commented on CMA shares. Zacks Investment Research raised shares of Comerica from a “hold” rating to a “buy” rating and set a $95.00 price target on the stock in a research report on Monday, December 11th. Piper Jaffray Companies raised shares of Comerica to a “buy” rating and set a $98.00 price target on the stock in a research report on Friday, December 8th. B. Riley reaffirmed a “buy” rating and set a $84.00 price target on shares of Comerica in a research report on Monday, December 4th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $101.00 price target on shares of Comerica in a research report on Friday, December 22nd. Finally, Instinet raised shares of Comerica from a “neutral” rating to a “buy” rating in a research report on Friday, January 5th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $93.27.
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Comerica Company Profile
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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