Keybank National Association OH lowered its stake in Comerica Incorporated (NYSE:CMA) by 10.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 310,315 shares of the financial services provider’s stock after selling 36,403 shares during the quarter. Keybank National Association OH’s holdings in Comerica were worth $20,478,000 as of its most recent filing with the SEC.
Several other hedge funds also recently bought and sold shares of the company. Parallel Advisors LLC lifted its holdings in Comerica by 7.1% during the 3rd quarter. Parallel Advisors LLC now owns 2,241 shares of the financial services provider’s stock worth $148,000 after buying an additional 148 shares during the last quarter. Cullen Frost Bankers Inc. lifted its holdings in Comerica by 59.2% during the 3rd quarter. Cullen Frost Bankers Inc. now owns 10,762 shares of the financial services provider’s stock worth $711,000 after buying an additional 4,000 shares during the last quarter. Creative Planning lifted its holdings in shares of Comerica by 8.4% in the 3rd quarter. Creative Planning now owns 20,960 shares of the financial services provider’s stock worth $1,383,000 after purchasing an additional 1,627 shares during the last quarter. First Mercantile Trust Co. lifted its holdings in shares of Comerica by 4.1% in the 3rd quarter. First Mercantile Trust Co. now owns 5,209 shares of the financial services provider’s stock worth $343,000 after purchasing an additional 204 shares during the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Comerica by 41.1% in the 3rd quarter. IFM Investors Pty Ltd now owns 15,856 shares of the financial services provider’s stock worth $1,046,000 after purchasing an additional 4,616 shares during the last quarter. Institutional investors and hedge funds own 86.02% of the company’s stock.
Shares of CMA stock traded down $0.09 during mid-day trading on Friday, hitting $71.69. 61,181 shares of the stock traded hands, compared to its average volume of 1,533,284. Comerica Incorporated has a twelve month low of $58.54 and a twelve month high of $88.96. The firm has a market cap of $10.26 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 0.57 and a beta of 1.54. The company’s 50-day simple moving average is $65.78 and its 200-day simple moving average is $68.66. The company has a debt-to-equity ratio of 1.02, a quick ratio of 1.03 and a current ratio of 1.03.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 3.74%. The ex-dividend date of this dividend is Thursday, December 12th. Comerica’s dividend payout ratio (DPR) is presently 37.02%.
Several analysts recently issued reports on CMA shares. DA Davidson cut their price target on Comerica from $75.00 to $73.00 and set a “neutral” rating on the stock in a report on Thursday, October 17th. SunTrust Banks cut their price target on Comerica from $75.00 to $67.00 and set a “hold” rating on the stock in a report on Tuesday, September 10th. UBS Group cut their price target on Comerica from $73.00 to $68.00 and set a “neutral” rating on the stock in a report on Monday, October 21st. Piper Jaffray Companies downgraded Comerica from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $74.50 to $72.50 in a report on Thursday, October 17th. Finally, JPMorgan Chase & Co. downgraded Comerica from a “neutral” rating to an “underweight” rating and cut their price target for the stock from $70.00 to $65.00 in a report on Thursday, October 17th. Seven investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $73.75.
In other news, Director Reginald M. Turner, Jr. sold 2,495 shares of Comerica stock in a transaction on Monday, October 28th. The stock was sold at an average price of $66.66, for a total transaction of $166,316.70. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.98% of the stock is currently owned by company insiders.
Comerica Company 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.
Further Reading: Different Types of Derivatives
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