Comerica Incorporated (CMA) Shares Sold by Pzena Investment Management LLC

Pzena Investment Management LLC lessened its holdings in shares of Comerica Incorporated (NYSE:CMA) by 49.6% in the third quarter, HoldingsChannel reports. The firm owned 121,055 shares of the financial services provider’s stock after selling 119,237 shares during the period. Pzena Investment Management LLC’s holdings in Comerica were worth $10,919,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CMA. Nisa Investment Advisors LLC boosted its position in Comerica by 1.7% during the second quarter. Nisa Investment Advisors LLC now owns 42,485 shares of the financial services provider’s stock valued at $3,863,000 after buying an additional 725 shares during the period. Advisor Partners LLC boosted its position in Comerica by 10.4% during the second quarter. Advisor Partners LLC now owns 9,004 shares of the financial services provider’s stock valued at $819,000 after buying an additional 850 shares during the period. First Mercantile Trust Co. boosted its position in Comerica by 34.1% during the second quarter. First Mercantile Trust Co. now owns 4,010 shares of the financial services provider’s stock valued at $364,000 after buying an additional 1,020 shares during the period. Three Peaks Capital Management LLC boosted its position in Comerica by 2,396.4% during the second quarter. Three Peaks Capital Management LLC now owns 29,133 shares of the financial services provider’s stock valued at $2,649,000 after buying an additional 27,966 shares during the period. Finally, BB&T Corp boosted its position in Comerica by 100.6% during the second quarter. BB&T Corp now owns 4,439 shares of the financial services provider’s stock valued at $404,000 after buying an additional 2,226 shares during the period. 87.54% of the stock is owned by hedge funds and other institutional investors.

Shares of CMA opened at $78.37 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.82. Comerica Incorporated has a one year low of $77.33 and a one year high of $102.66. The stock has a market capitalization of $12.78 billion, a price-to-earnings ratio of 16.57, a P/E/G ratio of 0.56 and a beta of 1.39.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $1.86 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.81 by $0.05. Comerica had a net margin of 29.54% and a return on equity of 14.41%. The business had revenue of $833.00 million during the quarter, compared to analyst estimates of $852.72 million. During the same period last year, the business posted $1.26 earnings per share. Sell-side analysts predict that Comerica Incorporated will post 7.19 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be issued a $0.60 dividend. The ex-dividend date is Thursday, December 13th. This represents a $2.40 annualized dividend and a yield of 3.06%. Comerica’s dividend payout ratio (DPR) is presently 50.74%.

Several research firms have issued reports on CMA. Nomura restated a “neutral” rating and set a $86.00 price target (down from $91.00) on shares of Comerica in a research report on Tuesday, November 13th. Royal Bank of Canada increased their target price on shares of Comerica to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, October 17th. ValuEngine lowered shares of Comerica from a “hold” rating to a “sell” rating in a report on Monday, October 22nd. Citigroup upgraded shares of Comerica from a “sell” rating to a “neutral” rating in a report on Friday, November 2nd. Finally, Raymond James upgraded shares of Comerica from an “outperform” rating to a “strong-buy” rating and set a $104.00 target price for the company in a report on Wednesday, October 31st. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $101.26.

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Comerica Profile

Comerica, Inc engages in the provision of financial services. It operates through the following segments: Business Bank, Retail Bank, Wealth Management, Finance, and Other. The Business Bank segment involves in the middle market businesses, multinational corporations, and governmental entities by offering 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.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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