M&T Bank Corp reduced its holdings in Comerica Incorporated (NYSE:CMA) by 7.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,530 shares of the financial services provider’s stock after selling 871 shares during the period. M&T Bank Corp’s holdings in Comerica were worth $838,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also bought and sold shares of the company. American Century Companies Inc. lifted its holdings in shares of Comerica by 166.2% in the 1st quarter. American Century Companies Inc. now owns 3,581,586 shares of the financial services provider’s stock valued at $262,602,000 after acquiring an additional 2,236,331 shares during the last quarter. AJO LP bought a new stake in shares of Comerica in the 1st quarter valued at approximately $60,749,000. KBC Group NV lifted its stake in shares of Comerica by 1,146.4% in the 2nd quarter. KBC Group NV now owns 300,966 shares of the financial services provider’s stock valued at $21,862,000 after purchasing an additional 276,819 shares during the last quarter. Schroder Investment Management Group boosted its holdings in shares of Comerica by 36.3% in the 2nd quarter. Schroder Investment Management Group now owns 1,003,892 shares of the financial services provider’s stock worth $72,923,000 after purchasing an additional 267,400 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Comerica by 321.0% in the 2nd quarter. First Trust Advisors LP now owns 320,966 shares of the financial services provider’s stock worth $23,315,000 after purchasing an additional 244,728 shares during the period. Hedge funds and other institutional investors own 86.56% of the company’s stock.
Several research firms have recently weighed in on CMA. SunTrust Banks decreased their price target on Comerica from $75.00 to $67.00 and set a “hold” rating on the stock in a report on Tuesday. Citigroup downgraded Comerica from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $80.00 to $66.00 in a research report on Friday, July 12th. Stephens set a $78.00 price objective on shares of Comerica and gave the stock a “hold” rating in a research note on Friday, September 6th. Odeon Capital Group cut shares of Comerica from a “buy” rating to a “sell” rating in a research report on Wednesday, September 4th. Finally, Morgan Stanley reduced their target price on shares of Comerica from $90.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday. Seven research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. Comerica currently has an average rating of “Hold” and an average price target of $82.24.
Comerica (NYSE:CMA) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.94 EPS for the quarter, missing the Zacks’ consensus estimate of $2.01 by ($0.07). The company had revenue of $853.00 million during the quarter, compared to the consensus estimate of $859.09 million. Comerica had a return on equity of 16.92% and a net margin of 33.29%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.87 earnings per share. Equities analysts forecast that Comerica Incorporated will post 7.88 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a $0.67 dividend. The ex-dividend date is Thursday, September 12th. This represents a $2.68 annualized dividend and a yield of 4.15%. Comerica’s dividend payout ratio (DPR) is 37.02%.
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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