Tyers Asset Management LLC lessened its holdings in Comerica Inc (NYSE:CMA) by 9.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,120 shares of the financial services provider’s stock after selling 2,848 shares during the quarter. Tyers Asset Management LLC’s holdings in Comerica were worth $2,602,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in Comerica by 30.1% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 35,236 shares of the financial services provider’s stock worth $3,049,000 after purchasing an additional 8,154 shares in the last quarter. Wealthfront Inc. boosted its position in Comerica by 11.0% in the 4th quarter. Wealthfront Inc. now owns 13,928 shares of the financial services provider’s stock worth $1,209,000 after purchasing an additional 1,377 shares in the last quarter. Toronto Dominion Bank boosted its position in Comerica by 12.4% in the 4th quarter. Toronto Dominion Bank now owns 75,032 shares of the financial services provider’s stock worth $6,513,000 after purchasing an additional 8,262 shares in the last quarter. Lazard Asset Management LLC boosted its position in Comerica by 3.8% in the 4th quarter. Lazard Asset Management LLC now owns 566,899 shares of the financial services provider’s stock worth $49,211,000 after purchasing an additional 20,506 shares in the last quarter. Finally, LPL Financial LLC boosted its position in Comerica by 141.5% in the 4th quarter. LPL Financial LLC now owns 29,822 shares of the financial services provider’s stock worth $2,589,000 after purchasing an additional 17,475 shares in the last quarter. Institutional investors own 83.81% of the company’s stock.
In other Comerica news, EVP Michael T. Ritchie sold 4,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $99.45, for a total value of $397,800.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Ralph W. Babb, Jr. sold 50,000 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $99.30, for a total value of $4,965,000.00. The disclosure for this sale can be found here. Insiders sold a total of 60,991 shares of company stock worth $6,056,632 in the last 90 days. 0.83% of the stock is currently owned by insiders.
Several equities research analysts have commented on the company. Zacks Investment Research upgraded Comerica from a “hold” rating to a “strong-buy” rating and set a $107.00 price objective on the stock in a research report on Friday, April 20th. Morgan Stanley upped their price objective on Comerica from $98.00 to $104.00 and gave the stock an “equal weight” rating in a research report on Friday, April 20th. Barclays restated a “sell” rating and issued a $102.00 price objective on shares of Comerica in a research report on Thursday, April 19th. ValuEngine lowered Comerica from a “buy” rating to a “hold” rating in a research report on Wednesday, April 18th. Finally, Wedbush set a $111.00 price objective on Comerica and gave the stock a “buy” rating in a research report on Wednesday, April 18th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Comerica has a consensus rating of “Hold” and an average target price of $97.06.
Shares of Comerica opened at $99.37 on Friday, MarketBeat reports. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.02 and a current ratio of 1.02. The firm has a market capitalization of $17.02 billion, a price-to-earnings ratio of 21.01, a PEG ratio of 1.05 and a beta of 1.39. Comerica Inc has a fifty-two week low of $98.17 and a fifty-two week high of $99.16.
Comerica (NYSE:CMA) last announced its quarterly earnings data on Tuesday, April 17th. The financial services provider reported $1.54 earnings per share for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.02). The firm had revenue of $793.00 million during the quarter, compared to analysts’ expectations of $811.59 million. Comerica had a net margin of 24.37% and a return on equity of 12.05%. During the same quarter in the previous year, the business posted $1.11 EPS. sell-side analysts expect that Comerica Inc will post 6.88 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, July 1st. Shareholders of record on Friday, June 15th will be issued a $0.34 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $1.36 dividend on an annualized basis and a yield of 1.37%. This is a positive change from Comerica’s previous quarterly dividend of $0.30. Comerica’s dividend payout ratio (DPR) is presently 25.37%.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through three segments: Business Bank, the Retail Bank, and Wealth Management. The Business Bank segment offers 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 services to middle market businesses, multinational corporations, and governmental entities.
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