Meeder Asset Management Inc. lowered its position in shares of Comerica Incorporated (NYSE:CMA) by 57.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,285 shares of the financial services provider’s stock after selling 11,301 shares during the period. Meeder Asset Management Inc.’s holdings in Comerica were worth $747,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently made changes to their positions in CMA. Brown Advisory Inc. boosted its position in Comerica by 43.3% during the 1st quarter. Brown Advisory Inc. now owns 4,066 shares of the financial services provider’s stock worth $390,000 after acquiring an additional 1,228 shares during the period. IFM Investors Pty Ltd boosted its position in Comerica by 50.0% during the 2nd quarter. IFM Investors Pty Ltd now owns 8,146 shares of the financial services provider’s stock worth $741,000 after acquiring an additional 2,716 shares during the period. CENTRAL TRUST Co boosted its position in Comerica by 588.2% during the 2nd quarter. CENTRAL TRUST Co now owns 2,340 shares of the financial services provider’s stock worth $213,000 after acquiring an additional 2,000 shares during the period. State of Alaska Department of Revenue boosted its position in Comerica by 10.7% during the 2nd quarter. State of Alaska Department of Revenue now owns 44,449 shares of the financial services provider’s stock worth $4,039,000 after acquiring an additional 4,310 shares during the period. Finally, Raymond James Trust N.A. acquired a new stake in Comerica during the 2nd quarter worth about $232,000. 82.32% of the stock is owned by institutional investors.
CMA opened at $84.69 on Friday. Comerica Incorporated has a fifty-two week low of $74.16 and a fifty-two week high of $102.66. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market cap of $13.51 billion, a PE ratio of 17.90, a PEG ratio of 0.59 and a beta of 1.39.
Comerica (NYSE:CMA) last posted its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share for the quarter, topping the Zacks’ 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 during the quarter, compared to the consensus estimate of $852.72 million. During the same period last year, the business earned $1.26 EPS. On average, research analysts forecast that Comerica Incorporated will post 7.18 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date of this dividend is Thursday, December 13th. Comerica’s payout ratio is 50.74%.
A number of equities research analysts have commented on the company. B. Riley raised their price objective on Comerica from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Morgan Stanley raised their price objective on Comerica from $108.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 26th. Royal Bank of Canada restated a “buy” rating and set a $108.00 price objective (up from $106.00) on shares of Comerica in a research report on Tuesday, July 17th. Vining Sparks restated a “buy” rating and set a $107.00 price objective on shares of Comerica in a research report on Tuesday, October 9th. Finally, Citigroup raised their price objective on Comerica from $84.00 to $88.00 and gave the stock a “sell” rating in a research report on Friday, July 20th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Comerica currently has a consensus rating of “Hold” and a consensus price target of $101.50.
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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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