Comerica Incorporated (CMA) Shares Bought by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. raised its position in shares of Comerica Incorporated (NYSE:CMA) by 7.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,795 shares of the financial services provider’s stock after acquiring an additional 1,898 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Comerica were worth $2,044,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Janus Henderson Group PLC boosted its position in shares of Comerica by 12,425.0% during the 2nd quarter. Janus Henderson Group PLC now owns 2,064,363 shares of the financial services provider’s stock worth $151,194,000 after purchasing an additional 2,047,881 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Comerica by 33.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock worth $507,632,000 after purchasing an additional 1,681,640 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Comerica by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock worth $1,330,147,000 after purchasing an additional 1,142,275 shares in the last quarter. State Street Corp boosted its position in shares of Comerica by 11.3% during the 2nd quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock worth $731,672,000 after purchasing an additional 1,010,965 shares in the last quarter. Finally, Voya Investment Management LLC boosted its position in shares of Comerica by 132.7% during the 2nd quarter. Voya Investment Management LLC now owns 1,692,458 shares of the financial services provider’s stock worth $123,956,000 after purchasing an additional 965,041 shares in the last quarter. 82.04% of the stock is currently owned by institutional investors and hedge funds.

Comerica Incorporated (NYSE CMA) opened at $85.87 on Wednesday. Comerica Incorporated has a 1 year low of $64.04 and a 1 year high of $86.78. The firm has a market cap of $14,725.38, a PE ratio of 19.11, a P/E/G ratio of 1.94 and a beta of 1.51. 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 announced its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ 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 for the quarter, compared to analysts’ expectations of $812.83 million. During the same quarter last year, the firm earned $0.84 EPS. equities analysts expect that Comerica Incorporated will post 4.85 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.20 annualized dividend and a yield of 1.40%. Comerica’s payout ratio is 27.15%.

A number of equities analysts have recently issued reports on the stock. Piper Jaffray Companies raised shares of Comerica to a “buy” rating and set a $98.00 price objective on the stock in a research report on Friday, December 8th. B. Riley reissued a “buy” rating and set a $84.00 price objective on shares of Comerica in a research report on Monday, December 4th. Instinet reissued a “neutral” rating and set a $74.00 price objective (up previously from $71.00) on shares of Comerica in a research report on Saturday, September 30th. Nomura increased their price objective on shares of Comerica from $71.00 to $74.00 and gave the stock a “neutral” rating in a research report on Thursday, September 28th. Finally, Zacks Investment Research raised shares of Comerica from a “hold” rating to a “buy” rating and set a $95.00 price objective on the stock in a research report on Monday. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $81.38.

In other Comerica news, insider Michael T. Ritchie sold 4,596 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $75.08, for a total value of $345,067.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Christine M. Moore sold 3,200 shares of the stock in a transaction dated 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 currently owned by company insiders.

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Comerica Company Profile

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.

Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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