Comerica Incorporated (CMA) Shares Sold by CIBC Private Wealth Group LLC
CIBC Private Wealth Group LLC trimmed its position in Comerica Incorporated (NYSE:CMA) by 1.1% during the 1st quarter, Holdings Channel reports. The institutional investor owned 101,891 shares of the financial services provider’s stock after selling 1,147 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Comerica were worth $7,471,000 at the end of the most recent reporting period.
Other hedge funds have also recently bought and sold shares of the company. Claybrook Capital LLC acquired a new stake in Comerica in the 4th quarter worth about $29,000. TrimTabs Asset Management LLC boosted its holdings in Comerica by 5.0% in the 1st quarter. TrimTabs Asset Management LLC now owns 12,951 shares of the financial services provider’s stock worth $950,000 after buying an additional 616 shares during the last quarter. State of Alaska Department of Revenue boosted its holdings in Comerica by 49.8% in the 1st quarter. State of Alaska Department of Revenue now owns 64,016 shares of the financial services provider’s stock worth $4,691,000 after buying an additional 21,275 shares during the last quarter. MUFG Securities EMEA plc acquired a new stake in Comerica in the 4th quarter worth about $34,383,000. Finally, Voloridge Investment Management LLC acquired a new stake in Comerica in the 4th quarter worth about $9,175,000. Institutional investors own 83.52% of the company’s stock.
Several equities research analysts recently issued reports on CMA shares. ValuEngine upgraded Comerica from a “strong sell” rating to a “sell” rating in a report on Friday, May 3rd. Stephens cut Comerica from an “overweight” rating to an “equal weight” rating in a report on Wednesday, March 6th. Jefferies Financial Group cut Comerica from a “buy” rating to a “hold” rating and set a $84.00 target price on the stock. in a report on Wednesday, April 17th. BMO Capital Markets cut Comerica from an “outperform” rating to a “market perform” rating and set a $83.00 target price on the stock. in a report on Thursday, February 14th. Finally, JPMorgan Chase & Co. cut Comerica from an “overweight” rating to a “neutral” rating and lowered their target price for the stock from $89.00 to $79.00 in a report on Thursday, April 4th. Three equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $91.91.
Comerica (NYSE:CMA) last issued its earnings results on Tuesday, April 16th. The financial services provider reported $2.08 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.15. The business had revenue of $852.00 million for the quarter, compared to analysts’ expectations of $852.88 million. Comerica had a return on equity of 16.95% and a net margin of 34.75%. The business’s revenue for the quarter was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.59 EPS. As a group, analysts expect that Comerica Incorporated will post 8.23 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.89%. The ex-dividend date of this dividend is Thursday, June 13th. Comerica’s payout ratio is presently 37.02%.
In other news, EVP Christine M. Moore sold 3,200 shares of Comerica stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $73.49, for a total transaction of $235,168.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.98% of the stock is currently owned by insiders.
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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