Rampart Investment Management Company LLC Sells 2,961 Shares of Comerica Incorporated (NYSE:CMA)

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Rampart Investment Management Company LLC reduced its position in Comerica Incorporated (NYSE:CMA) by 59.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,023 shares of the financial services provider’s stock after selling 2,961 shares during the quarter. Rampart Investment Management Company LLC’s holdings in Comerica were worth $147,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP raised its holdings in Comerica by 11.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,003,942 shares of the financial services provider’s stock worth $68,959,000 after purchasing an additional 100,589 shares in the last quarter. Geode Capital Management LLC raised its holdings in Comerica by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 2,230,560 shares of the financial services provider’s stock worth $152,960,000 after purchasing an additional 76,845 shares in the last quarter. American International Group Inc. raised its holdings in Comerica by 18.4% in the first quarter. American International Group Inc. now owns 83,436 shares of the financial services provider’s stock worth $6,118,000 after purchasing an additional 12,943 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Comerica by 30.2% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 71,403 shares of the financial services provider’s stock worth $5,235,000 after purchasing an additional 16,553 shares in the last quarter. Finally, Raymond James & Associates raised its holdings in Comerica by 36.0% in the first quarter. Raymond James & Associates now owns 87,803 shares of the financial services provider’s stock worth $6,438,000 after purchasing an additional 23,233 shares in the last quarter. Hedge funds and other institutional investors own 86.54% of the company’s stock.

Shares of CMA traded down $0.03 during mid-day trading on Friday, hitting $65.97. 3,287,883 shares of the company traded hands, compared to its average volume of 1,906,332. Comerica Incorporated has a 1-year low of $58.54 and a 1-year high of $94.85. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.90. The company has a market capitalization of $10.00 billion, a PE ratio of 9.11, a price-to-earnings-growth ratio of 0.60 and a beta of 1.52. The business has a 50 day moving average of $62.85 and a 200 day moving average of $71.79.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.01 by ($0.07). Comerica had a net margin of 33.29% and a return on equity of 16.92%. The company had revenue of $853.00 million for the quarter, compared to analyst estimates of $859.09 million. During the same quarter last year, the company earned $1.87 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. As a group, research analysts expect that Comerica Incorporated will post 7.84 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.67 per share. The ex-dividend date is Thursday, September 12th. This represents a $2.68 annualized dividend and a dividend yield of 4.06%. Comerica’s dividend payout ratio (DPR) is currently 37.02%.

A number of brokerages have commented on CMA. Citigroup downgraded shares of Comerica from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $80.00 to $66.00 in a report on Friday, July 12th. Bank of America downgraded shares of Comerica from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $85.00 to $71.00 in a report on Thursday, July 11th. BMO Capital Markets reduced their target price on shares of Comerica to $78.00 and set a “market perform” rating for the company in a report on Thursday, July 18th. SunTrust Banks reduced their target price on shares of Comerica from $75.00 to $67.00 and set a “hold” rating for the company in a report on Tuesday, September 10th. Finally, Morgan Stanley reduced their target price on shares of Comerica from $90.00 to $82.00 and set an “overweight” rating for the company in a report on Tuesday, September 10th. Seven research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $81.48.

Comerica Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers 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 middle market businesses, multinational corporations, and governmental entities.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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