Fox Run Management L.L.C. increased its holdings in Comerica Incorporated (NYSE:CMA – Get Rating) by 196.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,356 shares of the financial services provider’s stock after purchasing an additional 13,499 shares during the quarter. Comerica makes up approximately 0.6% of Fox Run Management L.L.C.’s holdings, making the stock its 8th largest holding. Fox Run Management L.L.C.’s holdings in Comerica were worth $1,447,000 at the end of the most recent quarter.
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Other large investors also recently modified their holdings of the company. Ronald Blue Trust Inc. purchased a new stake in Comerica during the 2nd quarter valued at $27,000. Oakworth Capital Inc. bought a new stake in shares of Comerica during the 2nd quarter valued at $34,000. Evoke Wealth LLC grew its position in shares of Comerica by 38.0% during the 2nd quarter. Evoke Wealth LLC now owns 494 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 136 shares during the period. Chilton Capital Management LLC bought a new stake in shares of Comerica during the 2nd quarter valued at $47,000. Finally, Hexagon Capital Partners LLC grew its position in shares of Comerica by 125.3% during the 3rd quarter. Hexagon Capital Partners LLC now owns 901 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 501 shares during the period. 81.91% of the stock is owned by institutional investors.
Comerica Trading Up 0.7 %
Shares of NYSE:CMA traded up $0.54 during trading on Friday, reaching $72.57. 206,532 shares of the company were exchanged, compared to its average volume of 1,484,002. The firm has a market capitalization of $9.50 billion, a PE ratio of 8.50, a P/E/G ratio of 2.25 and a beta of 1.18. The business’s fifty day simple moving average is $67.90 and its 200-day simple moving average is $73.31. Comerica Incorporated has a 12-month low of $62.83 and a 12-month high of $102.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.85 and a quick ratio of 0.85.
Comerica (NYSE:CMA – Get Rating) last issued its earnings results on Thursday, January 19th. The financial services provider reported $2.58 EPS for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Comerica had a net margin of 30.72% and a return on equity of 20.75%. During the same period last year, the company posted $1.66 earnings per share. On average, research analysts anticipate that Comerica Incorporated will post 9.68 EPS for the current year.
Comerica Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Sunday, January 1st. Stockholders of record on Thursday, December 15th were paid a dividend of $0.68 per share. The ex-dividend date was Wednesday, December 14th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.75%. Comerica’s dividend payout ratio is presently 32.11%.
Wall Street Analyst Weigh In
A number of equities research analysts have recently issued reports on the stock. Wolfe Research boosted their price objective on shares of Comerica from $79.00 to $80.00 in a research report on Thursday, December 1st. Citigroup dropped their price objective on shares of Comerica from $90.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, December 6th. Argus raised shares of Comerica from a “hold” rating to a “buy” rating and set a $87.00 price objective for the company in a report on Thursday, October 20th. Barclays dropped their price objective on shares of Comerica from $87.00 to $85.00 and set an “underweight” rating for the company in a report on Tuesday, January 3rd. Finally, DA Davidson upped their target price on shares of Comerica from $80.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, January 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.02.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers 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 for small and middle market businesses, multinational corporations, and governmental entities.
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