Cadence Capital Management LLC Acquires 12,721 Shares of Comerica Incorporated (CMA)

Cadence Capital Management LLC boosted its holdings in shares of Comerica Incorporated (NYSE:CMA) by 190.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,418 shares of the financial services provider’s stock after acquiring an additional 12,721 shares during the period. Cadence Capital Management LLC’s holdings in Comerica were worth $1,752,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of CMA. MERIAN GLOBAL INVESTORS UK Ltd raised its holdings in Comerica by 160.4% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,302,681 shares of the financial services provider’s stock worth $207,701,000 after buying an additional 1,418,316 shares during the last quarter. Millennium Management LLC raised its holdings in Comerica by 31.7% in the second quarter. Millennium Management LLC now owns 5,002,782 shares of the financial services provider’s stock worth $454,853,000 after buying an additional 1,204,882 shares during the last quarter. Integrated Investment Consultants LLC raised its holdings in Comerica by 26,511.7% in the second quarter. Integrated Investment Consultants LLC now owns 986,494 shares of the financial services provider’s stock worth $1,319,000 after buying an additional 982,787 shares during the last quarter. Janus Henderson Group PLC raised its holdings in Comerica by 61.5% in the second quarter. Janus Henderson Group PLC now owns 1,291,777 shares of the financial services provider’s stock worth $117,449,000 after buying an additional 491,843 shares during the last quarter. Finally, Natixis raised its holdings in Comerica by 424.3% in the second quarter. Natixis now owns 322,992 shares of the financial services provider’s stock worth $29,366,000 after buying an additional 261,389 shares during the last quarter. 82.32% of the stock is owned by institutional investors.

Shares of NYSE CMA opened at $84.69 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.03 and a quick ratio of 1.03. The company has a market cap of $13.51 billion, a P/E ratio of 12.70, a price-to-earnings-growth ratio of 0.59 and a beta of 1.39. Comerica Incorporated has a 12-month low of $74.16 and a 12-month high of $102.66.

Comerica (NYSE:CMA) last announced its earnings results on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.81 by $0.05. The company had revenue of $833.00 million during the quarter, compared to analyst estimates of $852.72 million. Comerica had a net margin of 29.54% and a return on equity of 14.41%. During the same period in the previous year, the business posted $1.26 earnings per share. Equities research analysts anticipate that Comerica Incorporated will post 7.18 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $2.40 annualized dividend and a yield of 2.83%. Comerica’s dividend payout ratio (DPR) is 50.74%.

CMA has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on shares of Comerica from $108.00 to $111.00 and gave the stock an “equal weight” rating in a report on Thursday, July 26th. Royal Bank of Canada lifted their target price on shares of Comerica to $100.00 and gave the stock an “outperform” rating in a report on Wednesday, October 17th. B. Riley set a $107.00 target price on shares of Comerica and gave the stock a “buy” rating in a report on Monday, October 15th. SunTrust Banks decreased their target price on shares of Comerica to $91.00 and set a “hold” rating for the company in a report on Wednesday, October 17th. Finally, Zacks Investment Research cut shares of Comerica from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company. Comerica has an average rating of “Hold” and a consensus target price of $101.50.

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Comerica Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through three segments: Business Bank, the Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication services to middle market businesses, multinational corporations, and governmental entities.

Read More: What is the Ex-Dividend Date in Investing?

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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