Asset Management One Co. Ltd. raised its stake in shares of Comerica Incorporated (NYSE:CMA) by 721.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 335,791 shares of the financial services provider’s stock after buying an additional 294,920 shares during the period. Asset Management One Co. Ltd.’s holdings in Comerica were worth $22,863,000 at the end of the most recent quarter.
Other hedge funds have also modified their holdings of the company. Tower Research Capital LLC TRC increased its stake in shares of Comerica by 96.4% in the third quarter. Tower Research Capital LLC TRC now owns 2,300 shares of the financial services provider’s stock valued at $109,000 after buying an additional 1,129 shares in the last quarter. BKS Advisors LLC acquired a new stake in shares of Comerica during the third quarter valued at approximately $120,000. Farr Miller & Washington LLC DC acquired a new stake in shares of Comerica during the fourth quarter valued at approximately $223,000. SRB Corp increased its stake in shares of Comerica by 9.2% in the third quarter. SRB Corp now owns 3,412 shares of the financial services provider’s stock valued at $161,000 after buying an additional 287 shares in the last quarter. Finally, Conning Inc. acquired a new stake in shares of Comerica during the third quarter valued at approximately $208,000. Institutional investors and hedge funds own 81.74% of the company’s stock.
Comerica Incorporated (NYSE:CMA) traded down 0.45% during midday trading on Friday, reaching $72.22. The company’s stock had a trading volume of 674,313 shares. The stock’s 50 day moving average price is $68.83 and its 200-day moving average price is $57.04. The stock has a market cap of $12.66 billion, a price-to-earnings ratio of 26.95 and a beta of 1.43. Comerica Incorporated has a one year low of $32.74 and a one year high of $73.85.
Comerica (NYSE:CMA) last issued its quarterly earnings results on Tuesday, January 17th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.05. The business had revenue of $722 million for the quarter, compared to the consensus estimate of $728.90 million. Comerica had a return on equity of 6.92% and a net margin of 16.00%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 earnings per share. On average, analysts forecast that Comerica Incorporated will post $3.98 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Wednesday, March 15th will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Monday, March 13th. Comerica’s payout ratio is presently 34.33%.
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Several analysts have commented on the company. Robert W. Baird reiterated an “outperform” rating and set a $52.00 target price on shares of Comerica in a research note on Friday, October 21st. Jefferies Group LLC raised their price target on Comerica to $87.00 in a research note on Friday. BMO Capital Markets restated a “hold” rating on shares of Comerica in a research note on Friday, October 21st. Sandler O’Neill downgraded Comerica from a “buy” rating to a “hold” rating in a research note on Monday, November 14th. Finally, Wedbush raised their price target on Comerica from $58.00 to $61.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 30th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and twelve have given a buy rating to the company’s stock. Comerica currently has an average rating of “Hold” and an average price target of $52.00.
In other news, insider Paul R. Obermeyer sold 15,235 shares of the company’s stock in a transaction on Tuesday, January 31st. The stock was sold at an average price of $67.79, for a total transaction of $1,032,780.65. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Megan D. Burkhart sold 4,373 shares of the company’s stock in a transaction on Monday, November 21st. The stock was sold at an average price of $60.72, for a total value of $265,528.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 147,105 shares of company stock worth $9,898,249. Insiders own 1.60% of the company’s stock.
Comerica Company Profile
Comerica Incorporated (Comerica) is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. Comerica has its operations in three business segments: the Business Bank, the Retail Bank and Wealth Management. In addition to the three business segments, it also operates in the Finance segment.
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