AMP Capital Investors Ltd lessened its holdings in Comerica Incorporated (NYSE:CMA) by 27.2% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 163,218 shares of the financial services provider’s stock after selling 60,834 shares during the quarter. AMP Capital Investors Ltd owned approximately 0.09% of Comerica worth $14,169,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. IBM Retirement Fund bought a new position in Comerica in the 3rd quarter valued at $200,000. Zeke Capital Advisors LLC bought a new position in Comerica in the 3rd quarter valued at $200,000. Driehaus Capital Management LLC bought a new position in Comerica in the 4th quarter valued at $209,000. JLB & Associates Inc. bought a new position in Comerica in the 4th quarter valued at $217,000. Finally, ZWJ Investment Counsel Inc. bought a new position in Comerica in the 4th quarter valued at $217,000. 83.05% of the stock is currently owned by institutional investors.
Shares of Comerica Incorporated (NYSE:CMA) opened at $100.82 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a market capitalization of $17,420.00, a price-to-earnings ratio of 21.18, a P/E/G ratio of 1.56 and a beta of 1.39. Comerica Incorporated has a 12 month low of $64.04 and a 12 month high of $102.66.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Thursday, March 15th will be paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend is Wednesday, March 14th. Comerica’s dividend payout ratio (DPR) is currently 25.21%.
In other Comerica news, CEO Ralph W. Babb, Jr. sold 65,300 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $97.61, for a total value of $6,373,933.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Peter William Guilfoile sold 1,052 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $97.00, for a total value of $102,044.00. The disclosure for this sale can be found here. Insiders have sold a total of 272,006 shares of company stock valued at $26,250,992 over the last 90 days. 1.10% of the stock is currently owned by company insiders.
Several equities analysts have commented on the company. ValuEngine raised Comerica from a “hold” rating to a “buy” rating in a research report on Wednesday, March 7th. BMO Capital Markets reaffirmed a “buy” rating and issued a $116.00 price objective on shares of Comerica in a research report on Wednesday, March 7th. Zacks Investment Research raised Comerica from a “hold” rating to a “strong-buy” rating and set a $104.00 price target on the stock in a research report on Wednesday, January 10th. Wedbush increased their price target on Comerica from $97.00 to $102.00 and gave the stock a “neutral” rating in a research report on Monday, March 5th. Finally, Nomura raised Comerica from a “neutral” rating to a “buy” rating and increased their price target for the stock from $86.00 to $106.00 in a research report on Friday, January 5th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Comerica has a consensus rating of “Hold” and a consensus price target of $92.80.
TRADEMARK VIOLATION NOTICE: “Comerica Incorporated (CMA) Shares Sold by AMP Capital Investors Ltd” was reported by American Banking News and is the sole property of of American Banking News. If you are viewing this news story on another website, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2018/03/13/comerica-incorporated-cma-shares-sold-by-amp-capital-investors-ltd.html.
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.
Receive News & Ratings for Comerica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comerica and related companies with MarketBeat.com's FREE daily email newsletter.