Oakbrook Investments LLC Lowers Position in Comerica Incorporated (NYSE:CMA)

Oakbrook Investments LLC cut its stake in Comerica Incorporated (NYSE:CMA) by 36.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,000 shares of the financial services provider’s stock after selling 4,550 shares during the quarter. Oakbrook Investments LLC’s holdings in Comerica were worth $574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of CMA. Quadrant Capital Group LLC lifted its holdings in shares of Comerica by 169.7% during the fourth quarter. Quadrant Capital Group LLC now owns 499 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 314 shares during the last quarter. Thor Advisors LLC purchased a new position in shares of Comerica during the third quarter valued at approximately $34,000. NuWave Investment Management LLC lifted its holdings in shares of Comerica by 636.6% during the fourth quarter. NuWave Investment Management LLC now owns 523 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 452 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Comerica during the fourth quarter valued at approximately $65,000. Finally, Signaturefd LLC lifted its holdings in shares of Comerica by 38.4% during the third quarter. Signaturefd LLC now owns 1,341 shares of the financial services provider’s stock valued at $88,000 after purchasing an additional 372 shares during the last quarter. Institutional investors and hedge funds own 82.56% of the company’s stock.

Shares of NYSE CMA opened at $62.76 on Friday. Comerica Incorporated has a twelve month low of $58.54 and a twelve month high of $88.96. The firm has a market cap of $8.90 billion, a P/E ratio of 8.07, a PEG ratio of 0.61 and a beta of 1.55. The company has a 50 day moving average of $66.42 and a 200 day moving average of $66.56. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.99.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Tuesday, January 21st. The financial services provider reported $1.85 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.11. Comerica had a net margin of 31.33% and a return on equity of 16.20%. The company had revenue of $810.00 million during the quarter, compared to analyst estimates of $801.73 million. During the same period in the previous year, the business earned $1.88 EPS. As a group, equities analysts expect that Comerica Incorporated will post 6.76 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a $0.68 dividend. This is a positive change from Comerica’s previous quarterly dividend of $0.67. This represents a $2.72 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend is Thursday, March 12th. Comerica’s payout ratio is presently 34.31%.

In related news, EVP James Harry Weber sold 6,500 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $63.54, for a total value of $413,010.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.98% of the stock is owned by insiders.

Several equities analysts have recently issued reports on the stock. Morgan Stanley lowered their target price on shares of Comerica from $79.00 to $74.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. B. Riley reiterated a “hold” rating and set a $75.00 target price on shares of Comerica in a report on Tuesday, January 21st. Wells Fargo & Co lowered shares of Comerica from an “equal weight” rating to an “underweight” rating and set a $71.00 target price for the company. in a report on Monday, January 6th. Royal Bank of Canada reiterated a “buy” rating and set a $74.00 target price on shares of Comerica in a report on Thursday, January 23rd. Finally, Argus lowered shares of Comerica from a “buy” rating to a “hold” rating in a report on Friday, October 18th. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $72.97.

About Comerica

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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