Sigma Planning Corp raised its stake in Comerica Incorporated (NYSE:CMA) by 21.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,820 shares of the financial services provider’s stock after buying an additional 1,384 shares during the period. Sigma Planning Corp’s holdings in Comerica were worth $516,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of CMA. Crossmark Global Holdings Inc. increased its holdings in Comerica by 1.7% in the second quarter. Crossmark Global Holdings Inc. now owns 10,775 shares of the financial services provider’s stock valued at $783,000 after buying an additional 175 shares in the last quarter. Scout Investments Inc. purchased a new position in Comerica in the second quarter valued at about $13,688,000. Hexavest Inc. acquired a new stake in shares of Comerica in the second quarter valued at approximately $16,883,000. First Citizens Bank & Trust Co. grew its position in shares of Comerica by 31.4% in the second quarter. First Citizens Bank & Trust Co. now owns 37,548 shares of the financial services provider’s stock valued at $2,727,000 after purchasing an additional 8,964 shares during the last quarter. Finally, Xact Kapitalforvaltning AB grew its position in shares of Comerica by 10.0% in the second quarter. Xact Kapitalforvaltning AB now owns 27,610 shares of the financial services provider’s stock valued at $2,006,000 after purchasing an additional 2,508 shares during the last quarter. 86.02% of the stock is owned by institutional investors.
Several research firms have recently commented on CMA. Stephens reiterated a “hold” rating and issued a $72.00 price target on shares of Comerica in a research report on Wednesday, October 16th. Argus lowered shares of Comerica from a “buy” rating to a “hold” rating in a research report on Friday, October 18th. B. Riley lowered their price target on shares of Comerica from $73.00 to $65.00 and set a “neutral” rating on the stock in a research report on Friday, October 4th. SunTrust Banks lowered their price target on shares of Comerica from $75.00 to $67.00 and set a “hold” rating on the stock in a research report on Tuesday, September 10th. Finally, DA Davidson lowered their price target on shares of Comerica from $75.00 to $73.00 and set a “neutral” rating on the stock in a research report on Thursday, October 17th. Seven analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $73.75.
Shares of NYSE CMA opened at $71.83 on Friday. Comerica Incorporated has a 1 year low of $58.54 and a 1 year high of $88.96. The firm’s 50 day moving average price is $65.89 and its 200 day moving average price is $68.62. The firm has a market cap of $10.26 billion, a P/E ratio of 9.92, a price-to-earnings-growth ratio of 0.57 and a beta of 1.54. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.03 and a current ratio of 1.03.
Comerica (NYSE:CMA) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.90 by $0.06. Comerica had a net margin of 32.11% and a return on equity of 16.82%. The firm had revenue of $842.00 million for the quarter, compared to analyst estimates of $836.10 million. During the same quarter last year, the business earned $1.86 earnings per share. Comerica’s revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts predict that Comerica Incorporated will post 7.71 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $2.68 dividend on an annualized basis and a yield of 3.73%. Comerica’s dividend payout ratio (DPR) is currently 37.02%.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers 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 middle market businesses, multinational corporations, and governmental entities.
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