Dupont Capital Management Corp increased its stake in Comerica Incorporated (NYSE:CMA) by 120.0% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 86,282 shares of the financial services provider’s stock after buying an additional 47,068 shares during the period. Dupont Capital Management Corp’s holdings in Comerica were worth $7,783,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently bought and sold shares of CMA. MERIAN GLOBAL INVESTORS UK Ltd grew its stake in shares of Comerica by 160.4% in the 3rd quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,302,681 shares of the financial services provider’s stock worth $207,701,000 after buying an additional 1,418,316 shares during the last quarter. Millennium Management LLC grew its stake in shares of Comerica by 31.7% in the 2nd quarter. Millennium Management LLC now owns 5,002,782 shares of the financial services provider’s stock worth $454,853,000 after buying an additional 1,204,882 shares during the last quarter. Integrated Investment Consultants LLC grew its stake in shares of Comerica by 26,511.7% in the 2nd quarter. Integrated Investment Consultants LLC now owns 986,494 shares of the financial services provider’s stock worth $1,319,000 after buying an additional 982,787 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of Comerica by 61.5% in the 2nd quarter. Janus Henderson Group PLC now owns 1,291,777 shares of the financial services provider’s stock worth $117,449,000 after buying an additional 491,843 shares during the last quarter. Finally, Natixis grew its stake in shares of Comerica by 424.3% in the 2nd quarter. Natixis now owns 322,992 shares of the financial services provider’s stock worth $29,366,000 after buying an additional 261,389 shares during the last quarter. Institutional investors own 82.32% of the company’s stock.
CMA has been the topic of several recent research reports. Bank of America upgraded Comerica from a “neutral” rating to a “buy” rating and set a $108.00 price target on the stock in a research note on Tuesday, July 17th. They noted that the move was a valuation call. Royal Bank of Canada reiterated a “buy” rating and set a $108.00 target price (up from $106.00) on shares of Comerica in a research note on Tuesday, July 17th. Evercore ISI upgraded Comerica from an “in-line” rating to an “outperform” rating in a research note on Wednesday, July 18th. Zacks Investment Research upgraded Comerica from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a research note on Wednesday, July 18th. Finally, Citigroup increased their target price on Comerica from $84.00 to $88.00 and gave the company a “sell” rating in a research note on Friday, July 20th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $101.50.
NYSE CMA opened at $84.51 on Friday. The firm has a market cap of $13.53 billion, a PE ratio of 12.72, a PEG ratio of 0.59 and a beta of 1.39. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.82. Comerica Incorporated has a 1-year low of $74.16 and a 1-year high of $102.66.
Comerica (NYSE:CMA) last released its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share for the quarter, beating the consensus estimate of $1.81 by $0.05. The firm had revenue of $833.00 million for the quarter, compared to analysts’ expectations of $852.72 million. Comerica had a return on equity of 14.41% and a net margin of 29.54%. During the same period in the prior year, the firm earned $1.26 EPS. As a group, analysts forecast that Comerica Incorporated will post 7.18 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th will be issued a dividend of $0.60 per share. The ex-dividend date is Thursday, December 13th. This represents a $2.40 annualized dividend and a dividend yield of 2.84%. Comerica’s payout ratio is 50.74%.
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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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