Teachers Advisors LLC raised its position in Comerica Incorporated (NYSE:CMA) by 4.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,004,578 shares of the financial services provider’s stock after buying an additional 87,509 shares during the period. Teachers Advisors LLC owned about 1.16% of Comerica worth $174,017,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of the stock. IBM Retirement Fund purchased a new position in Comerica in the 3rd quarter worth approximately $200,000. Zeke Capital Advisors LLC purchased a new position in Comerica in the 3rd quarter worth approximately $200,000. Driehaus Capital Management LLC purchased a new position in Comerica in the 4th quarter worth approximately $209,000. JLB & Associates Inc. purchased a new position in Comerica in the 4th quarter worth approximately $217,000. Finally, ZWJ Investment Counsel Inc. purchased a new position in Comerica in the 4th quarter worth approximately $217,000. Institutional investors own 83.05% of the company’s stock.
A number of research analysts have weighed in on the stock. Piper Jaffray Companies raised shares of Comerica to a “buy” rating and set a $98.00 target price on the stock in a research note on Friday, December 8th. Morgan Stanley reissued an “equal weight” rating and issued a $90.00 target price on shares of Comerica in a research note on Wednesday, December 13th. DA Davidson reissued a “hold” rating and issued a $100.00 target price on shares of Comerica in a research note on Wednesday, January 17th. SunTrust Banks reissued a “hold” rating and issued a $86.00 target price on shares of Comerica in a research note on Tuesday, January 9th. Finally, Wedbush raised their target price on shares of Comerica from $91.00 to $97.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 17th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $92.80.
Comerica (NYSE:CMA) last posted its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.03. The business had revenue of $830.00 million during the quarter, compared to the consensus estimate of $819.30 million. Comerica had a net margin of 22.47% and a return on equity of 10.94%. During the same quarter in the previous year, the firm posted $0.92 earnings per share. equities research analysts expect that Comerica Incorporated will post 6.57 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Shareholders of record on Thursday, March 15th will be paid a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $1.20 annualized dividend and a dividend yield of 1.17%. Comerica’s dividend payout ratio (DPR) is 29.06%.
In other Comerica news, CEO Ralph W. Babb, Jr. sold 61,500 shares of the business’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $94.02, for a total value of $5,782,230.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Megan D. Burkhart sold 4,670 shares of the business’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $99.20, for a total transaction of $463,264.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 272,006 shares of company stock valued at $26,250,992. Insiders own 1.10% of the company’s stock.
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Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering 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.
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