Comerica Incorporated (CMA) Position Lowered by Global X Management Co. LLC

Global X Management Co. LLC lowered its stake in Comerica Incorporated (NYSE:CMA) by 7.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,085 shares of the financial services provider’s stock after selling 694 shares during the period. Global X Management Co. LLC’s holdings in Comerica were worth $789,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JLB & Associates Inc. bought a new position in shares of Comerica in the fourth quarter worth $217,000. ZWJ Investment Counsel Inc. bought a new position in shares of Comerica in the fourth quarter worth $217,000. Zeke Capital Advisors LLC bought a new position in shares of Comerica in the third quarter worth $200,000. IBM Retirement Fund bought a new position in shares of Comerica in the third quarter worth $200,000. Finally, BB&T Corp bought a new position in shares of Comerica in the third quarter worth $206,000. Institutional investors own 83.26% of the company’s stock.

Shares of Comerica Incorporated (NYSE:CMA) opened at $97.20 on Wednesday. Comerica Incorporated has a 12 month low of $64.04 and a 12 month high of $99.03. The company has a market capitalization of $16,904.60, a PE ratio of 23.54, a PEG ratio of 1.49 and a beta of 1.47. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.00.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $1.28 EPS for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.03. Comerica had a return on equity of 10.94% and a net margin of 22.47%. The firm had revenue of $830.00 million for the quarter, compared to analyst estimates of $819.30 million. During the same period last year, the firm posted $0.92 earnings per share. sell-side analysts anticipate that Comerica Incorporated will post 6.56 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Thursday, March 15th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Wednesday, March 14th. Comerica’s payout ratio is 29.06%.

A number of brokerages recently commented on CMA. Piper Jaffray Companies upgraded Comerica to a “buy” rating and set a $98.00 price target on the stock in a research report on Friday, December 8th. Morgan Stanley reiterated an “equal weight” rating and issued a $90.00 target price on shares of Comerica in a research report on Wednesday, December 13th. DA Davidson reiterated a “hold” rating and issued a $100.00 target price on shares of Comerica in a research report on Wednesday, January 17th. Deutsche Bank lifted their target price on Comerica from $80.00 to $82.00 and gave the company a “hold” rating in a research report on Wednesday, November 8th. Finally, SunTrust Banks reiterated a “hold” rating and issued a $86.00 target price on shares of Comerica in a research report on Tuesday, January 9th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $92.37.

In other news, President Curtis C. Farmer sold 18,870 shares of Comerica stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $96.08, for a total transaction of $1,813,029.60. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Peter William Guilfoile sold 1,052 shares of Comerica stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $97.00, for a total value of $102,044.00. The disclosure for this sale can be found here. Insiders have sold 211,015 shares of company stock worth $20,194,360 over the last three months. Insiders own 1.10% of the company’s stock.

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Comerica 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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