Comerica Inc. (CMA) Position Decreased by Chevy Chase Trust Holdings Inc.
Chevy Chase Trust Holdings Inc. cut its stake in shares of Comerica Inc. (NYSE:CMA) by 3.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,275 shares of the financial services provider’s stock after selling 4,492 shares during the period. Chevy Chase Trust Holdings Inc. owned 0.08% of Comerica worth $6,922,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the stock. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Comerica during the second quarter valued at about $291,000. Kentucky Retirement Systems acquired a new position in shares of Comerica during the second quarter valued at about $613,000. Mason Street Advisors LLC acquired a new position in shares of Comerica during the second quarter valued at about $970,000. Public Employees Retirement System of Ohio raised its position in shares of Comerica by 42.8% in the second quarter. Public Employees Retirement System of Ohio now owns 47,766 shares of the financial services provider’s stock valued at $1,965,000 after buying an additional 14,314 shares during the last quarter. Finally, Blue Chip Partners Inc. raised its position in shares of Comerica by 73.5% in the second quarter. Blue Chip Partners Inc. now owns 6,264 shares of the financial services provider’s stock valued at $258,000 after buying an additional 2,653 shares during the last quarter. Institutional investors own 81.32% of the company’s stock.
Comerica Inc. (NYSE:CMA) traded up 3.30% during trading on Wednesday, hitting $63.79. The stock had a trading volume of 1,748,087 shares. Comerica Inc. has a 1-year low of $30.48 and a 1-year high of $63.80. The stock’s 50-day moving average price is $54.07 and its 200-day moving average price is $47.29. The company has a market capitalization of $10.99 billion, a P/E ratio of 26.59 and a beta of 1.35.
Comerica (NYSE:CMA) last posted its quarterly earnings data on Tuesday, October 18th. The financial services provider reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.74 by $0.10. Comerica had a return on equity of 6.36% and a net margin of 14.97%. During the same quarter in the previous year, the business posted $0.74 EPS. Analysts expect that Comerica Inc. will post $2.62 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record on Thursday, December 15th will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Tuesday, December 13th. This represents a $0.92 annualized dividend and a yield of 1.49%. Comerica’s payout ratio is 37.25%.
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CMA has been the topic of a number of research reports. Wedbush boosted their price objective on Comerica from $58.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday. Keefe, Bruyette & Woods upgraded Comerica from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $53.00 to $68.00 in a research report on Tuesday. Jefferies Group upgraded Comerica from a “hold” rating to a “buy” rating in a research report on Monday. Sandler O’Neill lowered Comerica from a “buy” rating to a “hold” rating in a research report on Monday, November 14th. Finally, Robert W. Baird lowered Comerica from an “outperform” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a research report on Thursday, November 10th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the stock. Comerica has a consensus rating of “Hold” and an average target price of $48.04.
In other news, EVP Muneera S. Carr sold 1,986 shares of Comerica stock in a transaction that occurred on Friday, October 21st. The shares were sold at an average price of $51.07, for a total transaction of $101,425.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Megan D. Burkhart sold 4,373 shares of Comerica stock in a transaction that occurred on Monday, November 21st. The shares were sold at an average price of $60.72, for a total transaction of $265,528.56. The disclosure for this sale can be found here. Company insiders own 1.60% of the company’s stock.
Comerica Company Profile
Comerica Incorporated (Comerica) is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. Comerica has its operations in three business segments: the Business Bank, the Retail Bank and Wealth Management. In addition to the three business segments, it also operates in the Finance segment.
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