Quantitative Investment Management LLC raised its holdings in Comerica Incorporated (NYSE:CMA) by 18.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 63,800 shares of the financial services provider’s stock after acquiring an additional 10,100 shares during the period. Quantitative Investment Management LLC’s holdings in Comerica were worth $5,538,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. IBM Retirement Fund bought a new position in Comerica in the third quarter valued at about $200,000. Zeke Capital Advisors LLC bought a new position in Comerica in the third quarter valued at about $200,000. Driehaus Capital Management LLC bought a new position in Comerica in the fourth quarter valued at about $209,000. JLB & Associates Inc. bought a new position in Comerica in the fourth quarter valued at about $217,000. Finally, ZWJ Investment Counsel Inc. bought a new position in Comerica in the fourth quarter valued at about $217,000. Hedge funds and other institutional investors own 83.05% of the company’s stock.
In related news, President Curtis C. Farmer sold 18,870 shares of Comerica stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $96.08, for a total value of $1,813,029.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Megan D. Burkhart sold 4,670 shares of Comerica stock in a transaction that occurred on 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 ninety days, insiders sold 272,006 shares of company stock worth $26,250,992. 1.10% of the stock is owned by insiders.
Comerica (NYSE:CMA) last posted 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. The company had revenue of $830.00 million for the quarter, compared to analyst estimates of $819.30 million. Comerica had a return on equity of 10.94% and a net margin of 22.47%. During the same period in the previous year, the firm earned $0.92 earnings per share. 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. Investors of record on Thursday, March 15th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date is Wednesday, March 14th. Comerica’s dividend payout ratio is currently 29.06%.
A number of research analysts have issued reports on CMA shares. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $101.00 target price on shares of Comerica in a research report on Friday, December 22nd. BMO Capital Markets upgraded Comerica from a “market perform” rating to an “outperform” rating and set a $111.00 target price on the stock in a research report on Friday, February 9th. Zacks Investment Research cut Comerica from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. SunTrust Banks restated a “hold” rating and set a $83.00 price target on shares of Comerica in a report on Wednesday, November 29th. Finally, Macquarie upgraded Comerica from a “neutral” rating to an “outperform” rating and set a $90.00 price target on the stock in a report on Friday, November 17th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $93.27.
COPYRIGHT VIOLATION WARNING: “Comerica Incorporated (CMA) Holdings Lifted by Quantitative Investment Management LLC” was reported by American Banking News and is the property of of American Banking News. If you are accessing this article on another publication, it was copied illegally and republished in violation of US and international copyright and trademark legislation. The legal version of this article can be viewed at https://www.americanbankingnews.com/2018/03/14/comerica-incorporated-cma-holdings-lifted-by-quantitative-investment-management-llc.html.
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.
Want to see what other hedge funds are holding CMA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comerica Incorporated (NYSE:CMA).
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.