Victory Capital Management Inc. lessened its holdings in shares of Comerica Incorporated (NYSE:CMA) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 839,526 shares of the financial services provider’s stock after selling 26,590 shares during the quarter. Victory Capital Management Inc. owned approximately 0.49% of Comerica worth $75,726,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Korea Investment CORP grew its stake in Comerica by 3.9% during the 2nd quarter. Korea Investment CORP now owns 464,017 shares of the financial services provider’s stock valued at $42,188,000 after acquiring an additional 17,500 shares in the last quarter. Argent Trust Co purchased a new position in Comerica during the 2nd quarter valued at about $379,000. Verition Fund Management LLC grew its stake in Comerica by 300.1% during the 2nd quarter. Verition Fund Management LLC now owns 32,420 shares of the financial services provider’s stock valued at $2,948,000 after acquiring an additional 24,317 shares in the last quarter. Point72 Asset Management L.P. grew its stake in Comerica by 132.4% during the 2nd quarter. Point72 Asset Management L.P. now owns 383,104 shares of the financial services provider’s stock valued at $34,832,000 after acquiring an additional 218,279 shares in the last quarter. Finally, MAI Capital Management purchased a new position in Comerica during the 3rd quarter valued at about $2,119,000. 82.32% of the stock is currently owned by institutional investors.
CMA has been the subject of several recent research reports. Royal Bank of Canada reissued a “buy” rating and issued a $108.00 price target (up previously from $106.00) on shares of Comerica in a research note on Tuesday, July 17th. Wedbush boosted their target price on Comerica from $111.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Bank of America set a $109.00 target price on Comerica and gave the stock a “buy” rating in a report on Wednesday, July 25th. Vining Sparks reiterated a “buy” rating and set a $107.00 price target on shares of Comerica in a report on Tuesday, October 9th. Finally, B. Riley upped their price target on Comerica from $110.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $100.72.
Shares of NYSE CMA opened at $83.51 on Monday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.82. Comerica Incorporated has a 12 month low of $74.16 and a 12 month high of $102.66. The company has a market cap of $13.50 billion, a PE ratio of 17.66, a price-to-earnings-growth ratio of 0.59 and a beta of 1.39.
Comerica (NYSE:CMA) last released its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.05. The business had revenue of $833.00 million during the quarter, compared to analysts’ expectations of $852.72 million. Comerica had a return on equity of 14.41% and a net margin of 29.54%. During the same period last year, the firm posted $1.26 EPS. On average, research 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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