DekaBank Deutsche Girozentrale decreased its holdings in shares of Comerica Incorporated (NYSE:CMA) by 12.0% during the 3rd quarter, Holdings Channel reports. The firm owned 325,351 shares of the financial services provider’s stock after selling 44,287 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Comerica were worth $31,561,000 at the end of the most recent quarter.
Several other hedge funds have also bought and sold shares of CMA. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Comerica by 16.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 41,253 shares of the financial services provider’s stock worth $3,721,000 after buying an additional 5,968 shares during the period. Bank of Hawaii raised its position in Comerica by 12.5% in the third quarter. Bank of Hawaii now owns 9,840 shares of the financial services provider’s stock valued at $888,000 after purchasing an additional 1,090 shares during the period. FIL Ltd raised its position in Comerica by 2.8% in the third quarter. FIL Ltd now owns 91,063 shares of the financial services provider’s stock valued at $8,214,000 after purchasing an additional 2,522 shares during the period. American International Group Inc. raised its position in Comerica by 4.7% in the third quarter. American International Group Inc. now owns 78,602 shares of the financial services provider’s stock valued at $7,090,000 after purchasing an additional 3,521 shares during the period. Finally, Atlas Capital Advisors LLC purchased a new position in Comerica in the third quarter valued at about $506,000. Institutional investors and hedge funds own 87.54% of the company’s stock.
Several research analysts have commented on the company. Vining Sparks reissued a “buy” rating and issued a $107.00 price objective on shares of Comerica in a research report on Tuesday, October 9th. Nomura reissued a “neutral” rating and issued a $86.00 price objective (down from $91.00) on shares of Comerica in a research report on Tuesday, November 13th. Citigroup raised Comerica from a “sell” rating to a “neutral” rating in a research report on Friday, November 2nd. Morgan Stanley cut their price objective on Comerica from $111.00 to $107.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 18th. Finally, Raymond James raised Comerica from an “outperform” rating to a “strong-buy” rating and set a $104.00 price objective on the stock in a research report on Wednesday, October 31st. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $101.26.
Comerica (NYSE:CMA) last posted its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $1.86 EPS for the quarter, topping the Zacks’ consensus estimate of $1.81 by $0.05. The business had revenue of $833.00 million during the quarter, compared to the consensus estimate of $852.72 million. Comerica had a return on equity of 14.41% and a net margin of 29.54%. During the same period last year, the firm earned $1.26 earnings per share. On average, analysts predict that Comerica Incorporated will post 7.19 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be paid a $0.60 dividend. The ex-dividend date is Thursday, December 13th. This represents a $2.40 dividend on an annualized basis and a yield of 3.06%. Comerica’s dividend payout ratio (DPR) is 50.74%.
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Comerica Company 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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