Comerica Incorporated (CMA) Stake Maintained by Sheaff Brock Investment Advisors LLC
Sheaff Brock Investment Advisors LLC maintained its stake in shares of Comerica Incorporated (NYSE:CMA) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,969 shares of the financial services provider’s stock at the end of the 2nd quarter. Sheaff Brock Investment Advisors LLC’s holdings in Comerica were worth $291,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in CMA. BlackRock Inc. increased its position in shares of Comerica by 3,094.6% during the first quarter. BlackRock Inc. now owns 11,268,474 shares of the financial services provider’s stock valued at $772,796,000 after buying an additional 10,915,741 shares during the period. Ameriprise Financial Inc. increased its position in shares of Comerica by 1,159.7% during the first quarter. Ameriprise Financial Inc. now owns 1,892,008 shares of the financial services provider’s stock valued at $129,759,000 after buying an additional 1,741,818 shares during the period. AQR Capital Management LLC increased its position in shares of Comerica by 140.5% during the first quarter. AQR Capital Management LLC now owns 2,072,665 shares of the financial services provider’s stock valued at $142,143,000 after buying an additional 1,210,749 shares during the period. Janus Capital Management LLC increased its position in shares of Comerica by 153.1% during the first quarter. Janus Capital Management LLC now owns 1,911,788 shares of the financial services provider’s stock valued at $131,111,000 after buying an additional 1,156,304 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Comerica by 6.2% during the first quarter. Vanguard Group Inc. now owns 17,019,213 shares of the financial services provider’s stock valued at $1,167,178,000 after buying an additional 997,004 shares during the period. Hedge funds and other institutional investors own 82.52% of the company’s stock.
In related news, insider Peter William Guilfoile sold 2,928 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $69.50, for a total transaction of $203,496.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Judith S. Love sold 21,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $69.74, for a total value of $1,464,540.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 44,249 shares of company stock valued at $3,095,383. Corporate insiders own 1.10% of the company’s stock.
Comerica Incorporated (CMA) opened at 66.75 on Tuesday. Comerica Incorporated has a one year low of $45.14 and a one year high of $75.72. The stock’s 50 day moving average price is $70.54 and its 200 day moving average price is $70.74. The company has a market capitalization of $11.74 billion, a P/E ratio of 16.67 and a beta of 1.49.
Comerica (NYSE:CMA) last released its quarterly earnings results on Tuesday, July 18th. The financial services provider reported $1.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.07. The firm had revenue of $776 million during the quarter, compared to analyst estimates of $777.08 million. Comerica had a return on equity of 9.60% and a net margin of 23.22%. The business’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.58 EPS. Equities analysts anticipate that Comerica Incorporated will post $4.58 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.80%. This is a positive change from Comerica’s previous quarterly dividend of $0.26. The ex-dividend date is Thursday, September 14th. Comerica’s payout ratio is presently 26.00%.
Comerica announced that its board has authorized a stock buyback plan on Wednesday, June 28th that permits the company to buyback $605.00 million in outstanding shares. This buyback authorization permits the financial services provider to reacquire up to 4.8% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
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Several brokerages have recently commented on CMA. BidaskClub raised Comerica from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. Piper Jaffray Companies raised Comerica from a “neutral” rating to an “overweight” rating in a report on Tuesday. Zacks Investment Research lowered Comerica from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Royal Bank Of Canada reissued a “buy” rating and set a $82.00 price objective on shares of Comerica in a report on Friday. Finally, FBR & Co reissued a “buy” rating and set a $79.00 price objective on shares of Comerica in a report on Friday. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the company’s stock. Comerica currently has a consensus rating of “Hold” and a consensus target price of $74.19.
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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