Czech National Bank purchased a new position in shares of Comerica Incorporated (NYSE:CMA – Get Rating) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 15,203 shares of the financial services provider’s stock, valued at approximately $1,081,000.
Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in Comerica by 2.4% during the first quarter. Vanguard Group Inc. now owns 15,871,102 shares of the financial services provider’s stock valued at $1,435,224,000 after purchasing an additional 366,188 shares during the period. FMR LLC grew its holdings in Comerica by 7.3% during the second quarter. FMR LLC now owns 3,990,336 shares of the financial services provider’s stock valued at $292,811,000 after purchasing an additional 270,869 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Comerica by 5.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,492,892 shares of the financial services provider’s stock valued at $225,433,000 after purchasing an additional 129,042 shares during the period. Dimensional Fund Advisors LP grew its holdings in Comerica by 4.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,992,962 shares of the financial services provider’s stock valued at $180,255,000 after purchasing an additional 79,871 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in Comerica by 3.1% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,589,023 shares of the financial services provider’s stock valued at $116,602,000 after purchasing an additional 47,162 shares during the period. Institutional investors and hedge funds own 81.91% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts recently issued reports on CMA shares. Barclays decreased 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. Wedbush cut their price target on shares of Comerica from $95.00 to $84.00 and set an “outperform” rating on the stock in a research note on Thursday, October 20th. Compass Point cut their price target on shares of Comerica to $88.00 in a research note on Thursday, October 20th. Argus raised shares of Comerica from a “hold” rating to a “buy” rating and set a $87.00 price target on the stock in a research note on Thursday, October 20th. Finally, Citigroup cut their price target on shares of Comerica from $90.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, December 6th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.70.
Comerica Stock Performance
NYSE CMA opened at $68.54 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.65. The firm’s fifty day moving average price is $68.27 and its two-hundred day moving average price is $73.58. Comerica Incorporated has a 1 year low of $62.83 and a 1 year high of $102.09. The firm has a market capitalization of $8.98 billion, a P/E ratio of 9.08, a price-to-earnings-growth ratio of 1.78 and a beta of 1.18.
Comerica (NYSE:CMA – Get Rating) last posted its quarterly earnings results on Wednesday, October 19th. The financial services provider reported $2.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.57 by $0.03. Comerica had a net margin of 30.73% and a return on equity of 16.56%. The firm had revenue of $985.00 million for the quarter, compared to analyst estimates of $966.20 million. During the same period in the prior year, the firm posted $1.90 earnings per share. As a group, research analysts anticipate that Comerica Incorporated will post 8.47 EPS for the current year.
Comerica Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Sunday, January 1st. Shareholders of record on Thursday, December 15th were issued a $0.68 dividend. The ex-dividend date was Wednesday, December 14th. This represents a $2.72 annualized dividend and a dividend yield of 3.97%. Comerica’s dividend payout ratio is currently 36.03%.
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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