Jefferies Group LLC raised its stake in shares of Comerica Incorporated (NYSE:CMA) by 288.9% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 100,985 shares of the financial services provider’s stock after purchasing an additional 75,017 shares during the quarter. Jefferies Group LLC’s holdings in Comerica were worth $9,109,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its position in shares of Comerica by 5.8% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,120,976 shares of the financial services provider’s stock worth $101,112,000 after buying an additional 61,777 shares during the period. Korea Investment CORP grew its position in shares of Comerica by 3.9% during the 2nd quarter. Korea Investment CORP now owns 464,017 shares of the financial services provider’s stock worth $42,188,000 after buying an additional 17,500 shares during the period. Argent Trust Co acquired a new position in shares of Comerica during the 2nd quarter worth about $379,000. First Midwest Bank Trust Division grew its position in shares of Comerica by 14.3% during the 3rd quarter. First Midwest Bank Trust Division now owns 14,776 shares of the financial services provider’s stock worth $1,333,000 after buying an additional 1,846 shares during the period. Finally, Verition Fund Management LLC grew its position in shares of Comerica by 300.1% during the 2nd quarter. Verition Fund Management LLC now owns 32,420 shares of the financial services provider’s stock worth $2,948,000 after buying an additional 24,317 shares during the period. Institutional investors own 84.97% of the company’s stock.

Several equities analysts have recently issued reports on CMA shares. Royal Bank of Canada boosted their target price on Comerica to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 17th. B. Riley set a $107.00 price objective on Comerica and gave the company a “buy” rating in a research report on Monday, October 15th. SunTrust Banks decreased their price objective on Comerica to $91.00 and set a “hold” rating for the company in a research report on Wednesday, October 17th. Zacks Investment Research lowered Comerica from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Finally, ValuEngine lowered Comerica from a “hold” rating to a “sell” rating in a research report on Monday, October 22nd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $101.61.

NYSE:CMA opened at $75.15 on Friday. Comerica Incorporated has a twelve month low of $73.51 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. The company has a market cap of $12.35 billion, a price-to-earnings ratio of 15.89, a PEG ratio of 0.54 and a beta of 1.38.

Comerica (NYSE:CMA) last released its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share for the quarter, topping analysts’ consensus estimates of $1.81 by $0.05. Comerica had a return on equity of 14.41% and a net margin of 29.54%. The firm had revenue of $833.00 million during the quarter, compared to the consensus estimate of $852.72 million. During the same quarter in the prior year, the firm posted $1.26 EPS. On average, sell-side analysts forecast that Comerica Incorporated will post 7.2 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. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date is Thursday, December 13th. Comerica’s dividend payout ratio is currently 50.74%.

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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.

Further Reading: What is the Coverage Ratio?

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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