Robeco Institutional Asset Management B.V. Increases Position in Comerica Incorporated (NYSE:CMA)

Robeco Institutional Asset Management B.V. boosted its position in shares of Comerica Incorporated (NYSE:CMA – Get Rating) by 4.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,278 shares of the financial services provider’s stock after buying an additional 6,692 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Comerica were worth $11,682,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of CMA. Private Advisor Group LLC boosted its holdings in shares of Comerica by 9.3% during the 1st quarter. Private Advisor Group LLC now owns 6,692 shares of the financial services provider’s stock worth $605,000 after purchasing an additional 568 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Comerica by 22.7% during the 1st quarter. MetLife Investment Management LLC now owns 35,565 shares of the financial services provider’s stock worth $3,216,000 after purchasing an additional 6,590 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Comerica by 6.2% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,486 shares of the financial services provider’s stock worth $1,581,000 after purchasing an additional 1,024 shares during the last quarter. Great West Life Assurance Co. Can boosted its holdings in shares of Comerica by 8.4% during the 1st quarter. Great West Life Assurance Co. Can now owns 27,966 shares of the financial services provider’s stock worth $2,626,000 after purchasing an additional 2,163 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its holdings in shares of Comerica by 119.2% during the 1st quarter. Yousif Capital Management LLC now owns 7,659 shares of the financial services provider’s stock worth $693,000 after purchasing an additional 4,165 shares during the last quarter. 81.91% of the stock is currently owned by hedge funds and other institutional investors.

Comerica Stock Down 8.4 %

Comerica stock opened at $43.59 on Friday. Comerica Incorporated has a twelve month low of $29.17 and a twelve month high of $97.52. The stock’s fifty day simple moving average is $68.24 and its 200-day simple moving average is $70.39. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The firm has a market capitalization of $5.73 billion, a P/E ratio of 5.15, a P/E/G ratio of 1.09 and a beta of 1.20.

Comerica (NYSE:CMA – Get Rating) last posted its earnings results on Thursday, January 19th. The financial services provider reported $2.58 EPS for the quarter, beating the consensus estimate of $2.56 by $0.02. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Comerica had a return on equity of 20.75% and a net margin of 30.72%. During the same quarter in the prior year, the company posted $1.66 earnings per share. As a group, equities analysts expect that Comerica Incorporated will post 9.57 earnings per share for the current fiscal year.

Comerica Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Wednesday, March 15th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 6.52%. The ex-dividend date is Tuesday, March 14th. This is a positive change from Comerica’s previous quarterly dividend of $0.68. Comerica’s dividend payout ratio is 33.53%.

Insider Activity at Comerica

In related news, EVP Cassandra M. Mckinney sold 3,262 shares of the stock in a transaction on Friday, January 27th. The stock was sold at an average price of $72.76, for a total value of $237,343.12. Following the transaction, the executive vice president now owns 6,825 shares of the company’s stock, valued at $496,587. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.76% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CMA. Odeon Capital Group cut Comerica from a “buy” rating to a “hold” rating in a report on Monday, March 13th. Morgan Stanley decreased their price objective on Comerica from $89.00 to $85.00 and set an “equal weight” rating on the stock in a report on Thursday, December 15th. Barclays decreased their price objective on Comerica from $87.00 to $85.00 and set an “underweight” rating on the stock in a report on Tuesday, January 3rd. Citigroup started coverage on Comerica in a report on Friday, March 10th. They issued a “buy” rating and a $90.00 price objective on the stock. Finally, DA Davidson upped their price objective on Comerica from $80.00 to $82.00 and gave the company a “buy” rating in a report on Friday, January 20th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $82.15.

Comerica Profile

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Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance, and Other. The Commercial 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.