Andra AP fonden raised its position in shares of Comerica Incorporated (NYSE:CMA) by 39.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 81,200 shares of the financial services provider’s stock after buying an additional 22,800 shares during the quarter. Andra AP fonden’s holdings in Comerica were worth $6,192,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in CMA. Janus Henderson Group PLC lifted its position in Comerica by 12,425.0% during the second quarter. Janus Henderson Group PLC now owns 2,064,363 shares of the financial services provider’s stock valued at $151,194,000 after buying an additional 2,047,881 shares during the period. Vanguard Group Inc. lifted its position in Comerica by 6.7% during the second quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock valued at $1,330,147,000 after buying an additional 1,142,275 shares during the period. State Street Corp lifted its position in Comerica by 11.3% during the second quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock valued at $731,672,000 after buying an additional 1,010,965 shares during the period. Voya Investment Management LLC lifted its position in Comerica by 132.7% during the second quarter. Voya Investment Management LLC now owns 1,692,458 shares of the financial services provider’s stock valued at $123,956,000 after buying an additional 965,041 shares during the period. Finally, JPMorgan Chase & Co. lifted its position in Comerica by 22.3% during the second quarter. JPMorgan Chase & Co. now owns 5,040,167 shares of the financial services provider’s stock valued at $369,142,000 after buying an additional 919,333 shares during the period. 83.44% of the stock is owned by institutional investors and hedge funds.
Shares of Comerica Incorporated (CMA) opened at $79.75 on Friday. The company has a market cap of $13,869.72, a PE ratio of 18.00, a PEG ratio of 1.82 and a beta of 1.50. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.00 and a quick ratio of 1.00.
Comerica (NYSE:CMA) last released its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.03. The business had revenue of $821.00 million during the quarter, compared to the consensus estimate of $812.83 million. Comerica had a return on equity of 10.35% and a net margin of 24.87%. During the same period in the previous year, the company posted $0.84 EPS. equities analysts forecast that Comerica Incorporated will post 4.86 EPS for the current year.
Comerica announced that its board has initiated a share buyback plan on Tuesday, July 25th that permits the company to buyback 5,000,000 shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.
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Several equities analysts have commented on the company. Instinet reissued a “neutral” rating and set a $71.00 price objective (up previously from $68.00) on shares of Comerica in a research report on Wednesday, July 12th. Barclays PLC reissued an “underweight” rating and set a $76.00 price objective (up previously from $72.00) on shares of Comerica in a research report on Wednesday, July 12th. BidaskClub lowered Comerica from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. FBR & Co set a $79.00 price objective on Comerica and gave the company a “buy” rating in a research report on Tuesday, July 18th. Finally, Stephens reissued a “buy” rating and set a $80.00 price objective on shares of Comerica in a research report on Tuesday, July 18th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $77.60.
In other Comerica news, insider Peter William Guilfoile sold 2,928 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $69.50, for a total transaction of $203,496.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul R. Obermeyer sold 20,321 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $70.24, for a total value of $1,427,347.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,249 shares of company stock valued at $3,095,383. Corporate insiders own 1.10% of the company’s stock.
Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services and loan syndication services.
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