Massachusetts Financial Services Co. MA increased its position in shares of Comerica Incorporated (NYSE:CMA) by 5.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,120,976 shares of the financial services provider’s stock after acquiring an additional 61,777 shares during the period. Massachusetts Financial Services Co. MA owned about 0.65% of Comerica worth $101,112,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. TCW Group Inc. grew its stake in Comerica by 1.3% during the 2nd quarter. TCW Group Inc. now owns 42,412 shares of the financial services provider’s stock worth $3,856,000 after buying an additional 536 shares during the last quarter. Sigma Planning Corp grew its stake in Comerica by 14.2% during the 2nd quarter. Sigma Planning Corp now owns 4,569 shares of the financial services provider’s stock worth $415,000 after buying an additional 569 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in Comerica by 4.7% during the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 13,264 shares of the financial services provider’s stock worth $1,206,000 after buying an additional 600 shares during the last quarter. Strs Ohio grew its stake in Comerica by 1.8% during the 3rd quarter. Strs Ohio now owns 39,675 shares of the financial services provider’s stock worth $3,578,000 after buying an additional 697 shares during the last quarter. Finally, First Republic Investment Management Inc. grew its stake in shares of Comerica by 10.8% in the 2nd quarter. First Republic Investment Management Inc. now owns 7,294 shares of the financial services provider’s stock valued at $664,000 after purchasing an additional 713 shares during the last quarter. 87.54% of the stock is currently owned by institutional investors.
CMA stock traded up $0.17 during trading on Thursday, reaching $79.05. 1,671,086 shares of the stock traded hands, compared to its average volume of 2,048,847. Comerica Incorporated has a 52-week low of $78.11 and a 52-week high of $102.66. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. The company has a market cap of $12.75 billion, a PE ratio of 16.71, a price-to-earnings-growth ratio of 0.56 and a beta of 1.39.
Comerica (NYSE:CMA) last posted its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.81 by $0.05. The firm had revenue of $833.00 million during the quarter, compared to the consensus estimate of $852.72 million. Comerica had a return on equity of 14.41% and a net margin of 29.54%. During the same quarter in the previous year, the business earned $1.26 earnings per share. Equities analysts forecast that Comerica Incorporated will post 7.19 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Thursday, December 13th. Comerica’s dividend payout ratio (DPR) is 50.74%.
Several analysts have recently commented on the company. B. Riley raised their price target on Comerica from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Vining Sparks reissued a “buy” rating and issued a $107.00 price target on shares of Comerica in a report on Tuesday, October 9th. Morgan Stanley lifted their price objective on Comerica from $108.00 to $111.00 and gave the stock an “equal weight” rating in a report on Thursday, July 26th. Wedbush lifted their price objective on Comerica from $111.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Finally, Royal Bank of Canada raised their price target on Comerica to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 17th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Comerica has a consensus rating of “Hold” and an average price target of $101.26.
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Comerica, Inc engages in the provision of financial services. It operates through the following segments: Business Bank, Retail Bank, Wealth Management, Finance, and Other. The Business Bank segment involves in the middle market businesses, multinational corporations, and governmental entities by offering various products and services such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication.
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