Rockefeller Capital Management L.P. lowered its stake in Comerica Incorporated (NYSE:CMA) by 0.8% during the third quarter, HoldingsChannel reports. The firm owned 1,454,314 shares of the financial services provider’s stock after selling 11,641 shares during the quarter. Comerica accounts for about 2.0% of Rockefeller Capital Management L.P.’s portfolio, making the stock its 13th largest position. Rockefeller Capital Management L.P.’s holdings in Comerica were worth $131,179,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. TCW Group Inc. increased its holdings in shares of Comerica by 1.3% in the 2nd quarter. TCW Group Inc. now owns 42,412 shares of the financial services provider’s stock valued at $3,856,000 after acquiring an additional 536 shares during the last quarter. Sigma Planning Corp increased its holdings in shares of Comerica by 14.2% in the 2nd quarter. Sigma Planning Corp now owns 4,569 shares of the financial services provider’s stock valued at $415,000 after acquiring an additional 569 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. increased its holdings in shares of Comerica by 4.7% in the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 13,264 shares of the financial services provider’s stock valued at $1,206,000 after acquiring an additional 600 shares during the last quarter. Strs Ohio increased its holdings in shares of Comerica by 1.8% in the 3rd quarter. Strs Ohio now owns 39,675 shares of the financial services provider’s stock valued at $3,578,000 after acquiring an additional 697 shares during the last quarter. Finally, First Republic Investment Management Inc. increased its holdings in shares of Comerica by 10.8% in the 2nd quarter. First Republic Investment Management Inc. now owns 7,294 shares of the financial services provider’s stock valued at $664,000 after acquiring an additional 713 shares during the last quarter. 82.32% of the stock is currently owned by institutional investors.
CMA has been the topic of a number of recent analyst reports. Morgan Stanley dropped their price objective on Comerica from $111.00 to $107.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 18th. Zacks Investment Research downgraded Comerica from a “buy” rating to a “hold” rating in a research note on Tuesday, September 25th. Vining Sparks restated a “buy” rating and set a $107.00 price target on shares of Comerica in a research note on Tuesday, October 9th. B. Riley set a $107.00 price target on Comerica and gave the stock a “buy” rating in a research note on Monday, October 15th. Finally, BMO Capital Markets dropped their price target on Comerica from $108.00 to $100.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 17th. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Comerica has a consensus rating of “Hold” and a consensus price target of $100.72.
Shares of CMA stock opened at $83.51 on Monday. Comerica Incorporated has a twelve month low of $74.16 and a twelve month high of $102.66. The company has a market capitalization of $13.50 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 0.59 and a beta of 1.39. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82.
Comerica (NYSE:CMA) last announced its earnings results on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.05. Comerica had a return on equity of 14.41% and a net margin of 29.54%. The company had revenue of $833.00 million for the quarter, compared to the consensus estimate of $852.72 million. During the same period last year, the business posted $1.26 EPS. On average, equities analysts expect that Comerica Incorporated will post 7.18 EPS for the current year.
Comerica Company Profile
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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