Comerica Incorporated (CMA) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama decreased its holdings in Comerica Incorporated (NYSE:CMA) by 2.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,040 shares of the financial services provider’s stock after selling 1,630 shares during the quarter. Retirement Systems of Alabama’s holdings in Comerica were worth $7,129,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Millennium Management LLC lifted its stake in Comerica by 31.7% in the second quarter. Millennium Management LLC now owns 5,002,782 shares of the financial services provider’s stock worth $454,853,000 after acquiring an additional 1,204,882 shares during the period. MERIAN GLOBAL INVESTORS UK Ltd lifted its stake in Comerica by 160.4% in the third quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 2,302,681 shares of the financial services provider’s stock worth $207,701,000 after acquiring an additional 1,418,316 shares during the period. Janus Henderson Group PLC lifted its stake in Comerica by 61.5% in the second quarter. Janus Henderson Group PLC now owns 1,291,777 shares of the financial services provider’s stock worth $117,449,000 after acquiring an additional 491,843 shares during the period. FMR LLC lifted its stake in Comerica by 31.5% in the second quarter. FMR LLC now owns 1,074,432 shares of the financial services provider’s stock worth $97,687,000 after acquiring an additional 257,581 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in Comerica by 0.4% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,059,199 shares of the financial services provider’s stock worth $96,303,000 after acquiring an additional 4,136 shares during the period. 82.22% of the stock is owned by institutional investors.

Shares of Comerica stock opened at $83.51 on Friday. Comerica Incorporated has a 12 month low of $74.16 and a 12 month high of $102.66. The company has a quick ratio of 1.02, a current ratio of 1.03 and a debt-to-equity ratio of 0.82. The firm has a market cap of $13.50 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 0.59 and a beta of 1.39.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share for the quarter, beating the consensus estimate 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 period last year, the company earned $1.26 earnings per share. Sell-side analysts anticipate that Comerica Incorporated will post 7.18 EPS for the current year.

A number of analysts recently commented on CMA shares. Morgan Stanley raised their price target on Comerica from $108.00 to $111.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 26th. Royal Bank of Canada raised their price target on Comerica to $100.00 and gave the stock an “outperform” rating in a research note 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 lowered their price objective on Comerica to $91.00 and set a “hold” rating for the company in a research report on Wednesday, October 17th. Finally, Zacks Investment Research lowered Comerica from a “buy” rating to a “hold” rating in a research report on Tuesday, September 25th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Comerica has an average rating of “Hold” and an average target price of $100.72.

Comerica Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through three segments: Business Bank, the Retail Bank, and Wealth Management. The Business Bank segment offers 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 services to middle market businesses, multinational corporations, and governmental entities.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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