Gamco Investors INC. ET AL Sells 26,750 Shares of Comerica Incorporated (NYSE:CMA)

Gamco Investors INC. ET AL lessened its holdings in Comerica Incorporated (NYSE:CMA) by 49.3% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,550 shares of the financial services provider’s stock after selling 26,750 shares during the period. Gamco Investors INC. ET AL’s holdings in Comerica were worth $1,818,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Advisory Services Network LLC lifted its stake in shares of Comerica by 4.5% in the 2nd quarter. Advisory Services Network LLC now owns 3,450 shares of the financial services provider’s stock worth $251,000 after purchasing an additional 150 shares during the period. Wetherby Asset Management Inc. raised its stake in Comerica by 2.7% during the 3rd quarter. Wetherby Asset Management Inc. now owns 6,123 shares of the financial services provider’s stock worth $404,000 after acquiring an additional 160 shares during the period. Farr Miller & Washington LLC DC raised its stake in Comerica by 3.1% during the 2nd quarter. Farr Miller & Washington LLC DC now owns 5,754 shares of the financial services provider’s stock worth $418,000 after acquiring an additional 172 shares during the period. LS Investment Advisors LLC raised its stake in Comerica by 3.3% during the 2nd quarter. LS Investment Advisors LLC now owns 5,408 shares of the financial services provider’s stock worth $393,000 after acquiring an additional 172 shares during the period. Finally, Crossmark Global Holdings Inc. raised its stake in Comerica by 1.7% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,775 shares of the financial services provider’s stock worth $783,000 after acquiring an additional 175 shares during the period. Hedge funds and other institutional investors own 86.02% of the company’s stock.

In other news, Director Reginald M. Turner, Jr. sold 2,495 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $66.66, for a total transaction of $166,316.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.98% of the stock is currently owned by corporate insiders.

Several equities research analysts have recently issued reports on CMA shares. Morgan Stanley reduced their price objective on shares of Comerica from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. lowered shares of Comerica from a “neutral” rating to an “underweight” rating and dropped their target price for the stock from $70.00 to $65.00 in a research report on Thursday, October 17th. Stephens reaffirmed a “hold” rating and set a $72.00 target price on shares of Comerica in a research note on Wednesday, October 16th. ValuEngine upgraded shares of Comerica from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Finally, Argus cut shares of Comerica from a “buy” rating to a “hold” rating in a research note on Friday, October 18th. Seven investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the stock. Comerica presently has an average rating of “Hold” and a consensus target price of $73.75.

Shares of NYSE CMA traded up $0.05 during midday trading on Friday, reaching $71.83. 960,275 shares of the stock traded hands, compared to its average volume of 1,874,532. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.03 and a quick ratio of 1.03. The stock has a market capitalization of $10.26 billion, a PE ratio of 9.92, a P/E/G ratio of 0.57 and a beta of 1.54. Comerica Incorporated has a one year low of $58.54 and a one year high of $88.96. The company’s 50 day moving average is $65.89 and its 200 day moving average is $68.62.

Comerica (NYSE:CMA) last posted its earnings results on Wednesday, October 16th. The financial services provider reported $1.96 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.06. The firm had revenue of $842.00 million during the quarter, compared to the consensus estimate of $836.10 million. Comerica had a return on equity of 16.82% and a net margin of 32.11%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.86 EPS. As a group, equities analysts forecast that Comerica Incorporated will post 7.71 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be given a dividend of $0.67 per share. The ex-dividend date of this dividend is Thursday, December 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 3.73%. Comerica’s dividend payout ratio is currently 37.02%.

Comerica Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers 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 middle market businesses, multinational corporations, and governmental entities.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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