Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in Comerica Incorporated (NYSE:CMA) by 8.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,306 shares of the financial services provider’s stock after acquiring an additional 1,161 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Comerica were worth $1,091,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Acadian Asset Management LLC boosted its position in Comerica by 2,080.0% in the 2nd quarter. Acadian Asset Management LLC now owns 18,094 shares of the financial services provider’s stock valued at $1,324,000 after buying an additional 17,264 shares during the last quarter. NGAM Advisors L.P. boosted its position in shares of Comerica by 2.6% in the 2nd quarter. NGAM Advisors L.P. now owns 40,068 shares of the financial services provider’s stock worth $2,935,000 after purchasing an additional 1,010 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Comerica by 0.5% in the 2nd quarter. CIBC Asset Management Inc now owns 19,572 shares of the financial services provider’s stock worth $1,433,000 after purchasing an additional 93 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Comerica by 78.7% in the 2nd quarter. Daiwa Securities Group Inc. now owns 8,400 shares of the financial services provider’s stock worth $615,000 after purchasing an additional 3,700 shares during the last quarter. Finally, Smithfield Trust Co. boosted its position in shares of Comerica by 2,446.0% in the 2nd quarter. Smithfield Trust Co. now owns 2,546 shares of the financial services provider’s stock worth $186,000 after purchasing an additional 2,446 shares during the last quarter. 82.04% of the stock is owned by hedge funds and other institutional investors.
CMA has been the topic of several recent analyst reports. Nomura lifted their target price on Comerica from $74.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, October 23rd. Zacks Investment Research raised Comerica from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Thursday, August 17th. Piper Jaffray Companies reissued a “hold” rating and issued a $76.00 price target on shares of Comerica in a research note on Friday, September 1st. Sanford C. Bernstein reissued a “market perform” rating and issued a $80.00 price target (up previously from $78.00) on shares of Comerica in a research note on Saturday, September 16th. Finally, Wells Fargo & Company initiated coverage on Comerica in a research note on Wednesday, August 9th. They issued a “market perform” rating and a $73.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $79.81.
Comerica (NYSE:CMA) last announced its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $1.26 EPS for the quarter, beating the consensus estimate of $1.23 by $0.03. Comerica had a net margin of 24.87% and a return on equity of 10.35%. The business had revenue of $821.00 million during the quarter, compared to the consensus estimate of $812.83 million. During the same period in the previous year, the business earned $0.84 earnings per share. equities analysts expect that Comerica Incorporated will post 4.85 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.20 annualized dividend and a yield of 1.43%. Comerica’s dividend payout ratio is currently 27.15%.
In other Comerica news, insider Michael T. Ritchie sold 4,596 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $75.08, for a total transaction of $345,067.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Christine M. Moore sold 3,200 shares of the business’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $75.07, for a total transaction of $240,224.00. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.
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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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