Hanson & Doremus Investment Management purchased a new position in shares of Comerica Incorporated (NYSE:CMA) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,000 shares of the financial services provider’s stock, valued at approximately $132,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CMA. Marshall Wace North America L.P. purchased a new position in Comerica during the 1st quarter valued at approximately $1,537,000. Horizon Investments LLC purchased a new position in Comerica during the 1st quarter valued at approximately $200,000. Amundi Pioneer Asset Management Inc. grew its holdings in Comerica by 0.7% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 840,101 shares of the financial services provider’s stock valued at $61,596,000 after buying an additional 5,625 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in Comerica by 1.7% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,775 shares of the financial services provider’s stock valued at $783,000 after buying an additional 175 shares in the last quarter. Finally, Scout Investments Inc. purchased a new position in Comerica during the 2nd quarter valued at approximately $13,688,000. 86.42% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Comerica stock opened at $65.45 on Friday. The stock has a market cap of $9.65 billion, a price-to-earnings ratio of 8.18, a price-to-earnings-growth ratio of 0.59 and a beta of 1.53. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.02 and a current ratio of 1.03. The stock has a 50 day moving average price of $64.20 and a 200-day moving average price of $69.75. Comerica Incorporated has a one year low of $58.54 and a one year high of $88.96.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Friday, September 13th were paid a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.09%. The ex-dividend date of this dividend was Thursday, September 12th. Comerica’s dividend payout ratio is currently 37.02%.
Several equities analysts have weighed in on CMA shares. BMO Capital Markets cut their price target on Comerica to $78.00 and set a “market perform” rating for the company in a report on Thursday, July 18th. Stephens restated a “hold” rating and set a $72.00 price target on shares of Comerica in a report on Wednesday. Bank of America cut Comerica from a “neutral” rating to an “underperform” rating and cut their price target for the company from $85.00 to $71.00 in a report on Thursday, July 11th. SunTrust Banks cut their price target on Comerica from $75.00 to $67.00 and set a “hold” rating for the company in a report on Tuesday, September 10th. Finally, Argus cut Comerica from a “buy” rating to a “hold” rating in a report on Friday. Seven equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $75.76.
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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