Integrated Wealth Concepts LLC Invests $317,000 in Comerica Incorporated (NYSE:CMA)

Integrated Wealth Concepts LLC bought a new position in Comerica Incorporated (NYSE:CMA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,360 shares of the financial services provider’s stock, valued at approximately $317,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. lifted its stake in Comerica by 166.2% during the first quarter. American Century Companies Inc. now owns 3,581,586 shares of the financial services provider’s stock valued at $262,602,000 after purchasing an additional 2,236,331 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of Comerica by 9,489.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,601,235 shares of the financial services provider’s stock worth $116,313,000 after buying an additional 1,584,537 shares during the period. Invesco Ltd. grew its position in shares of Comerica by 62.1% during the 2nd quarter. Invesco Ltd. now owns 2,745,769 shares of the financial services provider’s stock worth $199,452,000 after buying an additional 1,051,819 shares during the period. AJO LP acquired a new stake in shares of Comerica during the 1st quarter worth approximately $60,749,000. Finally, Vanguard Group Inc. grew its position in shares of Comerica by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 19,414,199 shares of the financial services provider’s stock worth $1,410,248,000 after buying an additional 293,069 shares during the period. 86.54% of the stock is owned by institutional investors.

Shares of CMA opened at $65.50 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.02 and a current ratio of 1.02. Comerica Incorporated has a twelve month low of $58.54 and a twelve month high of $94.14. The firm’s 50 day moving average price is $62.66 and its two-hundred day moving average price is $71.29. The firm has a market cap of $9.78 billion, a P/E ratio of 9.05, a PEG ratio of 0.59 and a beta of 1.52.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.01 by ($0.07). Comerica had a net margin of 33.29% and a return on equity of 16.92%. The company had revenue of $853.00 million during the quarter, compared to the consensus estimate of $859.09 million. During the same period in the previous year, the firm posted $1.87 EPS. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Comerica Incorporated will post 7.83 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a yield of 4.09%. The ex-dividend date is Thursday, September 12th. Comerica’s payout ratio is currently 37.02%.

Several equities research analysts have recently commented on the stock. DA Davidson lowered their price target on shares of Comerica to $75.00 and set a “neutral” rating for the company in a research report on Thursday, July 18th. Odeon Capital Group cut shares of Comerica from a “buy” rating to a “sell” rating in a research report on Wednesday, September 4th. Piper Jaffray Companies set a $91.00 price target on shares of Comerica and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Raymond James lowered shares of Comerica from an “outperform” rating to a “market perform” rating in a research note on Monday, July 8th. Finally, Citigroup lowered shares of Comerica from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $80.00 to $66.00 in a research note on Friday, July 12th. Seven equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $81.48.

Comerica Profile

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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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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