Tyers Asset Management LLC Has $2.73 Million Stake in Comerica Incorporated (CMA)
Tyers Asset Management LLC lifted its position in Comerica Incorporated (NYSE:CMA) by 10.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,032 shares of the financial services provider’s stock after buying an additional 2,912 shares during the period. Tyers Asset Management LLC’s holdings in Comerica were worth $2,730,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Advisors Preferred LLC purchased a new position in shares of Comerica in the 1st quarter worth approximately $111,000. Three Peaks Capital Management LLC purchased a new position in shares of Comerica in the 1st quarter worth approximately $112,000. Massey Quick Simon & CO. LLC purchased a new position in shares of Comerica in the 1st quarter worth approximately $153,000. Financial Gravity Wealth Inc. purchased a new position in shares of Comerica in the 1st quarter worth approximately $155,000. Finally, Point72 Asia Hong Kong Ltd grew its position in shares of Comerica by 47.1% in the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,855 shares of the financial services provider’s stock worth $178,000 after buying an additional 594 shares during the last quarter. 81.31% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE CMA opened at $96.74 on Friday. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.69. Comerica Incorporated has a 12 month low of $64.04 and a 12 month high of $102.66. The company has a market cap of $16.92 billion, a price-to-earnings ratio of 20.45, a price-to-earnings-growth ratio of 0.62 and a beta of 1.39.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Friday, September 14th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 2.48%. This is a boost from Comerica’s previous quarterly dividend of $0.34. The ex-dividend date is Thursday, September 13th. Comerica’s payout ratio is presently 28.75%.
In other Comerica news, EVP Christine M. Moore sold 4,800 shares of Comerica stock in a transaction that occurred on Thursday, August 2nd. The shares were sold at an average price of $98.41, for a total transaction of $472,368.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.83% of the company’s stock.
A number of research analysts have recently issued reports on CMA shares. B. Riley lifted their price objective on shares of Comerica from $110.00 to $113.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Wedbush lifted their price objective on shares of Comerica from $111.00 to $112.00 and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Stephens reaffirmed a “buy” rating and issued a $108.00 price objective on shares of Comerica in a research report on Tuesday, July 24th. Zacks Investment Research raised shares of Comerica from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a research report on Wednesday, July 18th. Finally, Royal Bank of Canada reissued a “buy” rating and set a $108.00 target price (up previously from $106.00) on shares of Comerica in a research report on Tuesday, July 17th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seventeen have issued a buy rating to the company’s stock. Comerica presently has an average rating of “Buy” and a consensus price target of $99.72.
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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