Paloma Partners Management Co Purchases 18,232 Shares of Comerica Incorporated (NYSE:CMA)

Paloma Partners Management Co boosted its position in shares of Comerica Incorporated (NYSE:CMA) by 46.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,240 shares of the financial services provider’s stock after acquiring an additional 18,232 shares during the quarter. Paloma Partners Management Co’s holdings in Comerica were worth $4,158,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Comerica by 1.5% in the second quarter. Vanguard Group Inc. now owns 19,414,199 shares of the financial services provider’s stock valued at $1,410,248,000 after purchasing an additional 293,069 shares during the period. BlackRock Inc. increased its position in Comerica by 2.1% during the second quarter. BlackRock Inc. now owns 11,709,951 shares of the financial services provider’s stock worth $850,609,000 after acquiring an additional 243,799 shares during the period. JPMorgan Chase & Co. increased its position in Comerica by 4.5% during the second quarter. JPMorgan Chase & Co. now owns 3,650,889 shares of the financial services provider’s stock worth $260,565,000 after acquiring an additional 157,524 shares during the period. American Century Companies Inc. increased its position in Comerica by 166.2% during the first quarter. American Century Companies Inc. now owns 3,581,586 shares of the financial services provider’s stock worth $262,602,000 after acquiring an additional 2,236,331 shares during the period. Finally, King Luther Capital Management Corp increased its position in Comerica by 2.1% during the second quarter. King Luther Capital Management Corp now owns 2,926,976 shares of the financial services provider’s stock worth $212,616,000 after acquiring an additional 61,387 shares during the period. 86.54% of the stock is currently owned by institutional investors.

Shares of CMA traded up $0.02 during mid-day trading on Friday, reaching $66.02. The company had a trading volume of 44,715 shares, compared to its average volume of 1,852,969. The company’s 50 day simple moving average is $62.99 and its 200 day simple moving average is $71.89. Comerica Incorporated has a 1-year low of $58.54 and a 1-year high of $95.39. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $9.91 billion, a price-to-earnings ratio of 9.10, a P/E/G ratio of 0.59 and a beta of 1.52.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $859.09 million. During the same quarter in the previous year, the business posted $1.87 earnings per share. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, equities analysts forecast that Comerica Incorporated will post 7.84 earnings per share for the current fiscal year.

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

A number of equities analysts recently commented on CMA shares. Barclays lowered their price target on shares of Comerica from $81.00 to $74.00 and set an “underweight” rating on the stock in a research report on Thursday, September 12th. BMO Capital Markets lowered their price target on shares of Comerica to $78.00 and set a “market perform” rating on the stock in a research report on Thursday, July 18th. Wedbush lowered their price target on shares of Comerica from $75.00 to $71.00 and set a “neutral” rating on the stock in a research report on Thursday, August 22nd. Odeon Capital Group lowered shares of Comerica from a “buy” rating to a “sell” rating in a research report on Wednesday, September 4th. Finally, Morgan Stanley lowered their price target on shares of Comerica from $90.00 to $82.00 and set an “overweight” rating on the stock in a research report on Tuesday, September 10th. Seven investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $81.48.

Comerica Company 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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