HBK Investments L P reduced its stake in Comerica Incorporated (NYSE:CMA) by 24.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 184,407 shares of the financial services provider’s stock after selling 58,393 shares during the period. HBK Investments L P owned approximately 0.11% of Comerica worth $16,008,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Driehaus Capital Management LLC purchased a new stake in Comerica in the 4th quarter valued at about $209,000. JLB & Associates Inc. purchased a new stake in Comerica in the 4th quarter valued at about $217,000. ZWJ Investment Counsel Inc. purchased a new stake in Comerica in the 4th quarter valued at about $217,000. Zeke Capital Advisors LLC purchased a new stake in Comerica in the 3rd quarter valued at about $200,000. Finally, IBM Retirement Fund purchased a new stake in Comerica in the 3rd quarter valued at about $200,000. Hedge funds and other institutional investors own 83.05% of the company’s stock.
In other news, CEO Ralph W. Babb, Jr. sold 50,000 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $95.25, for a total transaction of $4,762,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Megan D. Burkhart sold 4,670 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $99.20, for a total value of $463,264.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 272,006 shares of company stock valued at $26,250,992. Corporate insiders own 1.10% of the company’s stock.
Comerica Incorporated (NYSE CMA) opened at $100.82 on Tuesday. Comerica Incorporated has a 52-week low of $64.04 and a 52-week high of $102.66. The company has a market capitalization of $17,663.25, a PE ratio of 24.41, a PEG ratio of 1.56 and a beta of 1.39. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.00.
Comerica (NYSE:CMA) last announced its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.03. Comerica had a return on equity of 10.94% and a net margin of 22.47%. The business had revenue of $830.00 million during the quarter, compared to the consensus estimate of $819.30 million. During the same period in the previous year, the company posted $0.92 earnings per share. research analysts predict that Comerica Incorporated will post 6.57 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Thursday, March 15th will be given 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 is Wednesday, March 14th. Comerica’s dividend payout ratio is presently 29.06%.
Comerica Company Profile
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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