Tiverton Asset Management LLC grew its holdings in Comerica Incorporated (NYSE:CMA) by 1,919.8% in the 2nd quarter, HoldingsChannel reports. The fund owned 16,138 shares of the financial services provider’s stock after purchasing an additional 15,339 shares during the quarter. Tiverton Asset Management LLC’s holdings in Comerica were worth $1,467,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. First Republic Investment Management Inc. boosted its holdings in shares of Comerica by 8.7% during the 1st quarter. First Republic Investment Management Inc. now owns 6,581 shares of the financial services provider’s stock worth $631,000 after buying an additional 528 shares during the period. Tredje AP fonden boosted its holdings in shares of Comerica by 8.4% during the 1st quarter. Tredje AP fonden now owns 6,830 shares of the financial services provider’s stock worth $657,000 after buying an additional 530 shares during the period. TCW Group Inc. boosted its holdings in shares of Comerica by 1.3% during the 2nd quarter. TCW Group Inc. now owns 42,412 shares of the financial services provider’s stock worth $3,856,000 after buying an additional 536 shares during the period. IFP Advisors Inc boosted its holdings in shares of Comerica by 37.8% during the 1st quarter. IFP Advisors Inc now owns 1,982 shares of the financial services provider’s stock worth $190,000 after buying an additional 544 shares during the period. Finally, Sigma Planning Corp boosted its holdings in shares of Comerica by 14.2% during the 2nd quarter. Sigma Planning Corp now owns 4,569 shares of the financial services provider’s stock worth $415,000 after buying an additional 569 shares during the period. 81.31% of the stock is owned by institutional investors.
In other news, EVP Christine M. Moore sold 4,800 shares of the stock in a transaction on Thursday, August 2nd. The shares were sold at an average price of $98.41, for a total value of $472,368.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.83% of the company’s stock.
Several analysts recently issued reports on the stock. B. Riley upped their price objective on shares of Comerica from $110.00 to $113.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Wedbush upped their price objective on shares of Comerica from $111.00 to $112.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. Royal Bank of Canada reaffirmed a “buy” rating and set a $108.00 price objective (up from $106.00) on shares of Comerica in a report on Tuesday, July 17th. Zacks Investment Research raised shares of Comerica from a “hold” rating to a “buy” rating and set a $106.00 price objective for the company in a report on Tuesday, June 19th. Finally, Morgan Stanley upped their price objective on shares of Comerica from $108.00 to $111.00 and gave the stock an “equal weight” rating in a report on Thursday, July 26th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $99.72.
NYSE:CMA opened at $98.43 on Thursday. The firm has a market cap of $16.94 billion, a P/E ratio of 20.81, a P/E/G ratio of 0.62 and a beta of 1.39. Comerica Incorporated has a one year low of $64.04 and a one year high of $102.66. 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 (NYSE:CMA) last released its earnings results on Tuesday, July 17th. The financial services provider reported $1.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.64 by $0.26. The firm had revenue of $838.00 million during the quarter, compared to analysts’ expectations of $833.59 million. Comerica had a net margin of 27.28% and a return on equity of 13.14%. The business’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.13 EPS. analysts forecast that Comerica Incorporated will post 7.15 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Friday, September 14th will be paid a dividend of $0.60 per share. This is a boost from Comerica’s previous quarterly dividend of $0.34. This represents a $2.40 annualized dividend and a yield of 2.44%. The ex-dividend date is Thursday, September 13th. Comerica’s dividend payout ratio is presently 28.75%.
Comerica Company Profile
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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