Sei Investments Co. cut its stake in shares of Comerica Incorporated (NYSE:CMA) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 154,259 shares of the financial services provider’s stock after selling 2,849 shares during the period. Sei Investments Co.’s holdings in Comerica were worth $11,043,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of CMA. Crossmark Global Holdings Inc. grew its holdings in shares of Comerica by 54.6% during the fourth quarter. Crossmark Global Holdings Inc. now owns 15,462 shares of the financial services provider’s stock worth $1,109,000 after purchasing an additional 5,463 shares in the last quarter. Pendal Group Ltd lifted its position in Comerica by 160.6% in the 4th quarter. Pendal Group Ltd now owns 80,836 shares of the financial services provider’s stock worth $5,800,000 after buying an additional 49,821 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in Comerica by 2.7% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 246,229 shares of the financial services provider’s stock worth $17,667,000 after buying an additional 6,496 shares during the last quarter. Retirement Network bought a new stake in Comerica in the 4th quarter worth approximately $386,000. Finally, Candriam Luxembourg S.C.A. lifted its position in Comerica by 8.6% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 58,764 shares of the financial services provider’s stock worth $4,216,000 after buying an additional 4,640 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.
CMA has been the subject of a number of recent research reports. Royal Bank of Canada restated a “buy” rating and issued a $74.00 target price on shares of Comerica in a research report on Thursday, January 23rd. DA Davidson reiterated an “average” rating and issued a $69.00 price objective on shares of Comerica in a research report on Wednesday, January 22nd. SunTrust Banks reiterated a “hold” rating and issued a $72.00 price objective on shares of Comerica in a research report on Wednesday, January 22nd. Morgan Stanley lowered their price objective on Comerica from $79.00 to $74.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Finally, ValuEngine upgraded Comerica from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have assigned a buy rating to the stock. Comerica presently has an average rating of “Hold” and a consensus target price of $72.97.
Shares of Comerica stock traded up $0.45 during midday trading on Thursday, reaching $63.42. 63,874 shares of the company’s stock traded hands, compared to its average volume of 1,709,841. The company has a debt-to-equity ratio of 0.99, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $8.76 billion, a PE ratio of 8.09, a price-to-earnings-growth ratio of 0.60 and a beta of 1.55. The stock has a 50 day moving average of $65.55 and a 200-day moving average of $66.32. Comerica Incorporated has a 12 month low of $58.54 and a 12 month high of $88.96.
Comerica (NYSE:CMA) last announced its earnings results on Tuesday, January 21st. The financial services provider reported $1.85 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.11. The company had revenue of $810.00 million during the quarter, compared to the consensus estimate of $801.73 million. Comerica had a return on equity of 16.20% and a net margin of 31.33%. During the same quarter in the prior year, the company earned $1.88 earnings per share. On average, equities analysts anticipate that Comerica Incorporated will post 6.76 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date is Thursday, March 12th. This is an increase from Comerica’s previous quarterly dividend of $0.67. Comerica’s dividend payout ratio is currently 34.31%.
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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