Cibc World Markets Corp Has $1.50 Million Position in Comerica Incorporated (NYSE:CMA)

Cibc World Markets Corp grew its holdings in Comerica Incorporated (NYSE:CMAFree Report) by 27.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 26,907 shares of the financial services provider’s stock after purchasing an additional 5,743 shares during the quarter. Cibc World Markets Corp’s holdings in Comerica were worth $1,502,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently bought and sold shares of CMA. Norges Bank acquired a new position in Comerica in the fourth quarter worth $80,691,000. Vaughan Nelson Investment Management L.P. raised its position in shares of Comerica by 129.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock worth $107,716,000 after acquiring an additional 1,088,330 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Comerica by 60.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,605,943 shares of the financial services provider’s stock worth $145,444,000 after acquiring an additional 984,391 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Comerica by 51.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock worth $143,109,000 after acquiring an additional 870,812 shares during the last quarter. Finally, North Reef Capital Management LP raised its position in shares of Comerica by 43.0% during the third quarter. North Reef Capital Management LP now owns 2,880,000 shares of the financial services provider’s stock worth $119,664,000 after acquiring an additional 865,870 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Insider Transactions at Comerica

In other news, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total transaction of $382,381.89. Following the completion of the transaction, the executive vice president now directly owns 7,236 shares of the company’s stock, valued at $380,541.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is owned by insiders.

Comerica Stock Down 1.7 %

Shares of Comerica stock opened at $47.25 on Tuesday. Comerica Incorporated has a 1 year low of $37.40 and a 1 year high of $57.39. The business has a 50-day moving average of $51.98 and a two-hundred day moving average of $51.93. The company has a market capitalization of $6.26 billion, a P/E ratio of 9.39 and a beta of 1.25. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.95.

Comerica (NYSE:CMAGet Free Report) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.16. The company had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $807.57 million. Comerica had a return on equity of 16.51% and a net margin of 13.11%. During the same period in the prior year, the firm earned $2.39 earnings per share. As a group, equities analysts predict that Comerica Incorporated will post 5.19 EPS for the current year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.84 annualized dividend and a dividend yield of 6.01%. Comerica’s dividend payout ratio is currently 56.46%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CMA. Jefferies Financial Group dropped their target price on Comerica from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, April 8th. Stephens restated an “overweight” rating and set a $64.00 target price on shares of Comerica in a research report on Thursday, May 23rd. Morgan Stanley restated an “equal weight” rating and set a $53.00 target price on shares of Comerica in a research report on Monday, April 22nd. Evercore ISI upped their price objective on Comerica from $55.00 to $58.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Finally, UBS Group dropped their price objective on Comerica from $59.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Comerica currently has a consensus rating of “Hold” and a consensus target price of $56.50.

View Our Latest Analysis on CMA

Comerica Company Profile

(Free Report)

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services for small and middle market businesses, multinational corporations, and governmental entities.

Further Reading

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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