Assetmark Inc. boosted its position in Comerica Incorporated (NYSE:CMA) by 935,891.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,319 shares of the financial services provider’s stock after buying an additional 112,307 shares during the quarter. Assetmark Inc. owned approximately 0.06% of Comerica worth $8,565,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Comerica by 6.7% during the second quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock valued at $1,330,147,000 after buying an additional 1,142,275 shares during the last quarter. BlackRock Inc. raised its stake in Comerica by 0.5% during the 2nd quarter. BlackRock Inc. now owns 11,319,900 shares of the financial services provider’s stock valued at $829,069,000 after purchasing an additional 51,426 shares during the period. State Street Corp raised its stake in Comerica by 11.3% during the 2nd quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock valued at $731,672,000 after purchasing an additional 1,010,965 shares during the period. JPMorgan Chase & Co. raised its stake in Comerica by 22.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,040,167 shares of the financial services provider’s stock valued at $369,142,000 after purchasing an additional 919,333 shares during the period. Finally, TIAA CREF Investment Management LLC increased its stake in Comerica by 1.6% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,204,216 shares of the financial services provider’s stock worth $161,437,000 after acquiring an additional 34,144 shares during the last quarter. 82.04% of the stock is owned by institutional investors and hedge funds.
In other Comerica news, insider Michael T. Ritchie sold 4,596 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $75.08, for a total value of $345,067.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christine M. Moore sold 3,200 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $75.07, for a total value of $240,224.00. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.
A number of equities analysts have recently commented on the company. B. Riley reiterated a “buy” rating and issued a $84.00 target price on shares of Comerica in a report on Monday. ValuEngine lowered Comerica from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. SunTrust Banks reissued a “hold” rating and issued a $83.00 price target on shares of Comerica in a research report on Wednesday, November 29th. Nomura boosted their price target on Comerica from $74.00 to $86.00 and gave the stock a “neutral” rating in a research report on Monday, October 23rd. Finally, Zacks Investment Research lowered Comerica from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company. Comerica has a consensus rating of “Hold” and an average price target of $79.81.
Shares of Comerica Incorporated (NYSE CMA) traded up $1.20 during mid-day trading on Thursday, reaching $84.43. The company had a trading volume of 1,812,893 shares, compared to its average volume of 1,703,696. The firm has a market cap of $14,680.00, a PE ratio of 18.95, a PEG ratio of 1.92 and a beta of 1.50. Comerica Incorporated has a 1 year low of $64.04 and a 1 year high of $86.78. 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 issued its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.03. Comerica had a return on equity of 10.35% and a net margin of 24.87%. The firm had revenue of $821.00 million for the quarter, compared to analysts’ expectations of $812.83 million. During the same quarter in the previous year, the firm posted $0.84 EPS. equities research analysts predict that Comerica Incorporated will post 4.85 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 15th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Thursday, December 14th. Comerica’s dividend payout ratio is presently 27.21%.
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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.
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