Comerica Incorporated (CMA) Shares Sold by Canada Pension Plan Investment Board
Canada Pension Plan Investment Board cut its position in shares of Comerica Incorporated (NYSE:CMA) by 64.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 99,861 shares of the financial services provider’s stock after selling 182,898 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Comerica were worth $9,007,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Columbia Asset Management bought a new position in shares of Comerica during the 3rd quarter valued at about $115,000. Stratos Wealth Partners LTD. bought a new position in shares of Comerica during the 3rd quarter valued at about $163,000. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of Comerica by 83.8% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,834 shares of the financial services provider’s stock valued at $165,000 after purchasing an additional 836 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of Comerica during the 2nd quarter valued at about $183,000. Finally, First Hawaiian Bank bought a new position in shares of Comerica during the 3rd quarter valued at about $207,000. Hedge funds and other institutional investors own 84.97% of the company’s stock.
CMA opened at $75.15 on Friday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.03 and a current ratio of 1.03. Comerica Incorporated has a 1 year low of $73.51 and a 1 year high of $102.66. The company has a market cap of $12.35 billion, a P/E ratio of 11.61, a P/E/G ratio of 0.54 and a beta of 1.38.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Shareholders of record on Friday, December 14th will be issued a $0.60 dividend. This represents a $2.40 annualized dividend and a yield of 3.19%. The ex-dividend date is Thursday, December 13th. Comerica’s dividend payout ratio (DPR) is currently 50.74%.
Several equities analysts have recently commented on the company. Vining Sparks reiterated a “buy” rating and set a $107.00 price objective on shares of Comerica in a research report on Tuesday, October 9th. Nomura reiterated a “neutral” rating and set a $86.00 price objective (down from $91.00) on shares of Comerica in a research report on Tuesday, November 13th. Citigroup upgraded Comerica from a “sell” rating to a “neutral” rating in a research report on Friday, November 2nd. Macquarie lowered Comerica from a “neutral” rating to an “underperform” rating in a research report on Tuesday, November 27th. Finally, Piper Jaffray Companies set a $106.00 price target on Comerica and gave the stock a “buy” rating in a research report on Tuesday. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $101.61.
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Comerica Company Profile
Comerica, Inc engages in the provision of financial services. It operates through the following segments: Business Bank, Retail Bank, Wealth Management, Finance, and Other. The Business Bank segment involves in the middle market businesses, multinational corporations, and governmental entities by offering 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.
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