Aperio Group LLC grew its position in Comerica Inc (NYSE:CMA) by 2.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 200,421 shares of the financial services provider’s stock after acquiring an additional 5,185 shares during the period. Aperio Group LLC owned 0.12% of Comerica worth $19,226,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Bfsg LLC bought a new position in shares of Comerica in the first quarter valued at approximately $365,000. ING Groep NV raised its position in Comerica by 6.8% in the 1st quarter. ING Groep NV now owns 17,657 shares of the financial services provider’s stock worth $1,694,000 after purchasing an additional 1,121 shares during the last quarter. ETRADE Capital Management LLC raised its position in Comerica by 57.3% in the 1st quarter. ETRADE Capital Management LLC now owns 8,068 shares of the financial services provider’s stock worth $774,000 after purchasing an additional 2,938 shares during the last quarter. Prescott Group Capital Management L.L.C. raised its position in Comerica by 175.0% in the 1st quarter. Prescott Group Capital Management L.L.C. now owns 11,000 shares of the financial services provider’s stock worth $1,055,000 after purchasing an additional 7,000 shares during the last quarter. Finally, Spectrum Management Group Inc. bought a new position in Comerica in the 1st quarter worth approximately $530,000. Institutional investors own 83.81% of the company’s stock.
In other news, EVP Megan D. Burkhart sold 4,670 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $99.20, for a total value of $463,264.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael T. Ritchie sold 4,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $99.45, for a total transaction of $397,800.00. The disclosure for this sale can be found here. Insiders have sold a total of 60,991 shares of company stock valued at $6,056,632 in the last ninety days. Company insiders own 0.83% of the company’s stock.
Several research firms recently weighed in on CMA. ValuEngine cut shares of Comerica from a “buy” rating to a “hold” rating in a research report on Wednesday, April 18th. Zacks Investment Research upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $105.00 price objective for the company in a research report on Tuesday, April 3rd. Susquehanna Bancshares set a $99.00 price objective on shares of Comerica and gave the stock a “hold” rating in a research report on Tuesday, April 10th. Morgan Stanley boosted their price objective on shares of Comerica from $98.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Friday, April 20th. Finally, Bank of America boosted their price objective on shares of Comerica from $97.00 to $104.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 13th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Comerica currently has an average rating of “Hold” and an average target price of $97.06.
CMA opened at $99.37 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.02 and a quick ratio of 1.02. Comerica Inc has a 52 week low of $98.17 and a 52 week high of $99.16. The firm has a market cap of $16.92 billion, a price-to-earnings ratio of 21.01, a price-to-earnings-growth ratio of 1.04 and a beta of 1.39.
Comerica (NYSE:CMA) last released its earnings results on Tuesday, April 17th. The financial services provider reported $1.54 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.02). Comerica had a return on equity of 12.05% and a net margin of 24.37%. The business had revenue of $793.00 million for the quarter, compared to analyst estimates of $811.59 million. During the same period in the prior year, the firm posted $1.11 EPS. equities analysts expect that Comerica Inc will post 6.88 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, July 1st. Shareholders of record on Friday, June 15th will be issued a dividend of $0.34 per share. This represents a $1.36 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date is Thursday, June 14th. This is a positive change from Comerica’s previous quarterly dividend of $0.30. Comerica’s payout ratio is currently 25.37%.
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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