Crestline Management LP Takes Position in Comerica Incorporated (CMA)
Crestline Management LP bought a new position in Comerica Incorporated (NYSE:CMA) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 47,000 shares of the financial services provider’s stock, valued at approximately $3,584,000. Comerica accounts for about 0.5% of Crestline Management LP’s holdings, making the stock its 26th largest holding.
Several other institutional investors have also modified their holdings of CMA. Daiwa Securities Group Inc. boosted its position in shares of Comerica by 78.7% in the second quarter. Daiwa Securities Group Inc. now owns 8,400 shares of the financial services provider’s stock worth $615,000 after buying an additional 3,700 shares during the period. Retirement Systems of Alabama boosted its position in shares of Comerica by 0.9% in the second quarter. Retirement Systems of Alabama now owns 85,788 shares of the financial services provider’s stock worth $6,283,000 after buying an additional 780 shares during the period. Pictet Asset Management Ltd. boosted its position in Comerica by 0.6% during the second quarter. Pictet Asset Management Ltd. now owns 95,976 shares of the financial services provider’s stock valued at $6,580,000 after purchasing an additional 600 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Comerica by 157.8% during the second quarter. Canada Pension Plan Investment Board now owns 301,409 shares of the financial services provider’s stock valued at $22,075,000 after purchasing an additional 184,500 shares during the last quarter. Finally, Wetherby Asset Management Inc. boosted its position in Comerica by 1.8% during the second quarter. Wetherby Asset Management Inc. now owns 5,061 shares of the financial services provider’s stock valued at $371,000 after purchasing an additional 91 shares during the last quarter. 82.04% of the stock is owned by institutional investors and hedge funds.
Comerica Incorporated (CMA) opened at $85.40 on Monday. Comerica Incorporated has a 1-year low of $64.04 and a 1-year high of $86.78. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $14,852.34, a PE ratio of 19.28, a price-to-earnings-growth ratio of 1.96 and a beta of 1.51.
Comerica (NYSE:CMA) last posted its earnings results on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.23 by $0.03. Comerica had a return on equity of 10.35% and a net margin of 24.87%. The company had revenue of $821.00 million for the quarter, compared to analyst estimates of $812.83 million. During the same period last year, the company earned $0.84 earnings per share. equities research analysts anticipate that Comerica Incorporated will post 4.85 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 15th will be issued a dividend of $0.30 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.20 annualized dividend and a yield of 1.41%. Comerica’s dividend payout ratio (DPR) is currently 27.15%.
A number of analysts recently issued reports on CMA shares. Keefe, Bruyette & Woods reissued a “buy” rating and set a $79.00 price objective on shares of Comerica in a research report on Friday, September 22nd. Zacks Investment Research raised Comerica from a “hold” rating to a “buy” rating and set a $80.00 price objective for the company in a research report on Thursday, August 17th. Jefferies Group reissued a “buy” rating and set a $81.00 price objective on shares of Comerica in a research report on Friday, September 15th. Royal Bank Of Canada reissued a “buy” rating and set a $82.00 price objective on shares of Comerica in a research report on Friday, September 8th. Finally, FBR & Co reissued a “buy” rating and set a $79.00 price objective on shares of Comerica in a research report on Friday, September 8th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $80.67.
In other Comerica news, EVP Christine M. Moore sold 3,200 shares of the firm’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $75.07, for a total transaction of $240,224.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael T. Ritchie sold 4,596 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $75.08, for a total value of $345,067.68. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
TRADEMARK VIOLATION NOTICE: This news story was originally reported by Watch List News and is owned by of Watch List News. If you are reading this news story on another website, it was stolen and reposted in violation of international copyright laws. The correct version of this news story can be read at https://www.watchlistnews.com/crestline-management-lp-takes-position-in-comerica-incorporated-cma/1757128.html.
Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering 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.
Receive News & Ratings for Comerica Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comerica Incorporated and related companies with Analyst Ratings Network's FREE daily email newsletter.