Two Sigma Advisers LP cut its position in shares of Comerica Inc (NYSE:CMA) by 1.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 598,991 shares of the financial services provider’s stock after selling 6,400 shares during the period. Two Sigma Advisers LP owned approximately 0.35% of Comerica worth $51,998,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also modified their holdings of CMA. Toronto Dominion Bank grew its stake in Comerica by 11.4% in the third quarter. Toronto Dominion Bank now owns 66,770 shares of the financial services provider’s stock worth $5,092,000 after purchasing an additional 6,843 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Comerica by 30.1% during 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 in the last quarter. Wealthfront Inc. boosted its position in Comerica by 11.0% during the 4th quarter. Wealthfront Inc. now owns 13,928 shares of the financial services provider’s stock valued at $1,209,000 after acquiring an additional 1,377 shares in the last quarter. Lazard Asset Management LLC boosted its position in shares of Comerica by 3.8% in the 4th quarter. Lazard Asset Management LLC now owns 566,899 shares of the financial services provider’s stock worth $49,211,000 after purchasing an additional 20,506 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position 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 worth $75,956,000 after purchasing an additional 31,136 shares in the last quarter. Hedge funds and other institutional investors own 83.05% of the company’s stock.
A number of equities analysts recently issued reports on CMA shares. Vining Sparks restated a “buy” rating and issued a $97.50 target price on shares of Comerica in a research note on Monday, January 8th. Nomura upgraded Comerica from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $86.00 to $106.00 in a research note on Friday, January 5th. Instinet upgraded Comerica from a “neutral” rating to a “buy” rating in a research note on Friday, January 5th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $101.00 price objective on shares of Comerica in a report on Friday, December 22nd. Finally, Zacks Investment Research upgraded Comerica from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a report on Monday, December 11th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Comerica presently has an average rating of “Hold” and a consensus target price of $95.62.
In related news, EVP Megan D. Burkhart sold 4,670 shares of Comerica stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $99.20, for a total transaction of $463,264.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ralph W. Babb, Jr. sold 61,500 shares of Comerica stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $94.02, for a total transaction of $5,782,230.00. The disclosure for this sale can be found here. In the last three months, insiders sold 272,006 shares of company stock worth $26,250,992. Insiders own 0.83% of the company’s stock.
CMA stock opened at $94.92 on Friday. Comerica Inc has a 12 month low of $64.04 and a 12 month high of $102.66. The company has a market capitalization of $16,716.23, a PE ratio of 20.07, a price-to-earnings-growth ratio of 1.45 and a beta of 1.38. 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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.03. The firm had revenue of $830.00 million for the quarter, compared to analyst estimates of $819.30 million. Comerica had a net margin of 22.47% and a return on equity of 10.94%. During the same quarter last year, the business earned $0.92 earnings per share. equities analysts anticipate that Comerica Inc will post 6.65 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Sunday, April 1st. Stockholders of record on Thursday, March 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date of this dividend was Wednesday, March 14th. Comerica’s dividend payout ratio is presently 25.37%.
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Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through three segments: Business Bank, the Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication services to middle market businesses, multinational corporations, and governmental entities.
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