Keeley Teton Advisors LLC Sells 1,264 Shares of Comerica Incorporated (CMA)
Keeley Teton Advisors LLC decreased its holdings in Comerica Incorporated (NYSE:CMA) by 2.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,998 shares of the financial services provider’s stock after selling 1,264 shares during the quarter. Keeley Teton Advisors LLC’s holdings in Comerica were worth $4,575,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of CMA. National Planning Corp lifted its stake in shares of Comerica by 0.4% in the 2nd quarter. National Planning Corp now owns 5,763 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 21 shares in the last quarter. Veritable L.P. lifted its position in Comerica by 0.3% during the 2nd quarter. Veritable L.P. now owns 10,844 shares of the financial services provider’s stock worth $794,000 after acquiring an additional 32 shares in the last quarter. Cadence Capital Management LLC lifted its position in Comerica by 0.8% during the 2nd quarter. Cadence Capital Management LLC now owns 7,039 shares of the financial services provider’s stock worth $516,000 after acquiring an additional 58 shares in the last quarter. Wetherby Asset Management Inc. lifted its position in Comerica by 1.8% during the 2nd quarter. Wetherby Asset Management Inc. now owns 5,061 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 91 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its position in Comerica by 0.5% during the 2nd quarter. CIBC Asset Management Inc now owns 19,572 shares of the financial services provider’s stock worth $1,433,000 after acquiring an additional 93 shares in the last quarter. Institutional investors own 82.04% of the company’s stock.
Shares of Comerica Incorporated (NYSE CMA) traded up $1.20 on Friday, reaching $84.43. The company had a trading volume of 1,812,800 shares, compared to its average volume of 1,703,696. The company has a market cap of $14,474.95, a P/E ratio of 18.79, a P/E/G ratio of 1.91 and a beta of 1.51. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.00. Comerica Incorporated has a 52-week low of $64.04 and a 52-week high of $86.78.
Comerica (NYSE:CMA) last issued its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $1.26 EPS for the quarter, topping the Zacks’ consensus estimate of $1.23 by $0.03. The firm had revenue of $821.00 million during the quarter, compared to the consensus estimate of $812.83 million. Comerica had a return on equity of 10.35% and a net margin of 24.87%. During the same period in the prior year, the business earned $0.84 EPS. equities analysts predict that Comerica Incorporated will post 4.85 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 15th will be given a dividend of $0.30 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.42%. Comerica’s dividend payout ratio (DPR) is presently 27.15%.
In other Comerica news, insider Michael T. Ritchie sold 4,596 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $75.08, for a total transaction of $345,067.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Christine M. Moore sold 3,200 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $75.07, for a total value of $240,224.00. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Several research firms recently commented on CMA. Piper Jaffray Companies boosted their price target on Comerica to $98.00 and gave the stock an “overweight” rating in a research report on Friday. Deutsche Bank boosted their price target on Comerica from $80.00 to $82.00 and gave the stock a “hold” rating in a research report on Wednesday, November 8th. BidaskClub downgraded Comerica from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Zacks Investment Research downgraded Comerica from a “buy” rating to a “hold” rating in a report on Wednesday, August 23rd. Finally, Royal Bank Of Canada restated a “buy” rating and set a $82.00 price objective on shares of Comerica in a report on Friday, September 8th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $80.67.
Comerica Company Profile
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.
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