Gillson Capital LP increased its holdings in Comerica Incorporated (NYSE:CMA) by 234.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 318,890 shares of the financial services provider’s stock after buying an additional 223,506 shares during the quarter. Comerica comprises approximately 4.7% of Gillson Capital LP’s investment portfolio, making the stock its 7th largest holding. Gillson Capital LP owned 0.18% of Comerica worth $27,683,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of CMA. BlackRock Inc. grew its stake in shares of Comerica by 2.2% during the 4th quarter. BlackRock Inc. now owns 11,882,946 shares of the financial services provider’s stock worth $1,031,560,000 after purchasing an additional 255,109 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Comerica by 33.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock worth $507,632,000 after purchasing an additional 1,681,640 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Comerica by 6.2% during the 4th quarter. Bank of New York Mellon Corp now owns 1,951,330 shares of the financial services provider’s stock worth $169,396,000 after purchasing an additional 113,366 shares during the period. Geode Capital Management LLC grew its stake in shares of Comerica by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 1,910,721 shares of the financial services provider’s stock worth $165,526,000 after purchasing an additional 21,862 shares during the period. Finally, Neuberger Berman Group LLC grew its stake in shares of Comerica by 9.9% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,642,665 shares of the financial services provider’s stock worth $125,270,000 after purchasing an additional 147,497 shares during the period. Institutional investors own 83.05% of the company’s stock.
In other Comerica news, CEO Ralph W. Babb, Jr. sold 50,000 shares of the firm’s stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $95.25, for a total value of $4,762,500.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Curtis C. Farmer sold 18,870 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $96.08, for a total value of $1,813,029.60. The disclosure for this sale can be found here. Insiders sold a total of 272,006 shares of company stock worth $26,250,992 in the last 90 days. 1.10% of the stock is currently owned by insiders.
Shares of Comerica Incorporated (NYSE:CMA) traded down $1.38 during mid-day trading on Wednesday, reaching $97.72. The company’s stock had a trading volume of 1,111,348 shares, compared to its average volume of 1,512,115. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.58. The stock has a market cap of $17,423.04, a price-to-earnings ratio of 23.87, a P/E/G ratio of 1.54 and a beta of 1.39. Comerica Incorporated has a 12 month low of $64.04 and a 12 month high of $102.66.
Comerica (NYSE:CMA) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, beating analysts’ consensus estimates of $1.25 by $0.03. The company had revenue of $830.00 million for the quarter, compared to analyst estimates of $819.30 million. Comerica had a return on equity of 10.94% and a net margin of 22.47%. During the same quarter last year, the firm posted $0.92 EPS. equities research analysts predict that Comerica Incorporated will post 6.57 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Thursday, March 15th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.23%. Comerica’s payout ratio is currently 29.06%.
A number of equities research analysts have recently commented on the stock. Piper Jaffray Companies raised shares of Comerica to a “buy” rating and set a $98.00 price objective on the stock in a research note on Friday, December 8th. Morgan Stanley reaffirmed an “equal weight” rating and set a $90.00 price objective on shares of Comerica in a research note on Wednesday, December 13th. DA Davidson reaffirmed a “hold” rating and set a $100.00 price objective on shares of Comerica in a research note on Wednesday, January 17th. Zacks Investment Research cut shares of Comerica from a “buy” rating to a “hold” rating in a research note on Tuesday. Finally, SunTrust Banks reaffirmed a “hold” rating and set a $86.00 price objective on shares of Comerica in a research note on Tuesday, January 9th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $93.27.
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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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