Fmr LLC boosted its holdings in shares of Comerica Incorporated (NYSE:CMA) by 31.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,074,432 shares of the financial services provider’s stock after buying an additional 257,581 shares during the quarter. Fmr LLC owned approximately 0.63% of Comerica worth $97,687,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Millennium Management LLC increased its holdings in Comerica by 31.7% during the second quarter. Millennium Management LLC now owns 5,002,782 shares of the financial services provider’s stock valued at $454,853,000 after buying an additional 1,204,882 shares during the period. Janus Henderson Group PLC increased its holdings in Comerica by 61.5% during the second quarter. Janus Henderson Group PLC now owns 1,291,777 shares of the financial services provider’s stock valued at $117,449,000 after buying an additional 491,843 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Comerica by 0.4% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,059,199 shares of the financial services provider’s stock valued at $96,303,000 after buying an additional 4,136 shares during the period. Integrated Investment Consultants LLC increased its holdings in Comerica by 26,511.7% during the second quarter. Integrated Investment Consultants LLC now owns 986,494 shares of the financial services provider’s stock valued at $1,319,000 after buying an additional 982,787 shares during the period. Finally, American Century Companies Inc. increased its holdings in Comerica by 35.2% during the second quarter. American Century Companies Inc. now owns 774,848 shares of the financial services provider’s stock valued at $70,449,000 after buying an additional 201,692 shares during the period. 82.32% of the stock is currently owned by institutional investors.
Shares of CMA opened at $84.69 on Friday. The company has a market capitalization of $13.51 billion, a price-to-earnings ratio of 17.90, a PEG ratio of 0.59 and a beta of 1.39. Comerica Incorporated has a twelve month low of $74.16 and a twelve month high of $102.66. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.03 and a quick ratio of 1.03.
Comerica (NYSE:CMA) last announced its earnings results on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.81 by $0.05. Comerica had a net margin of 29.54% and a return on equity of 14.41%. The company had revenue of $833.00 million during the quarter, compared to the consensus estimate of $852.72 million. During the same period last year, the firm earned $1.26 earnings per share. On average, equities analysts predict that Comerica Incorporated will post 7.18 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th will be paid 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 dividend yield of 2.83%. Comerica’s payout ratio is currently 50.74%.
Several equities analysts recently issued reports on CMA shares. Bank of America set a $109.00 price objective on shares of Comerica and gave the company a “buy” rating in a report on Wednesday, July 25th. B. Riley lifted their price objective on shares of Comerica from $110.00 to $113.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Wedbush lifted their price objective on shares of Comerica from $111.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, July 25th. Stephens reissued a “buy” rating and set a $108.00 price objective on shares of Comerica in a report on Tuesday, July 24th. Finally, Zacks Investment Research raised shares of Comerica from a “hold” rating to a “buy” rating and set a $103.00 price objective on the stock in a report on Wednesday, July 18th. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Comerica presently has an average rating of “Hold” and a consensus price target of $101.50.
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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.
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