Zacks Investment Management Grows Position in Comerica Incorporated (NYSE:CMA)

Zacks Investment Management increased its position in shares of Comerica Incorporated (NYSE:CMA) by 8.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,938 shares of the financial services provider’s stock after buying an additional 3,384 shares during the period. Zacks Investment Management’s holdings in Comerica were worth $3,046,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CWM LLC increased its stake in shares of Comerica by 47,467.0% during the second quarter. CWM LLC now owns 201,684 shares of the financial services provider’s stock worth $14,650,000 after buying an additional 201,260 shares during the period. Farr Miller & Washington LLC DC increased its stake in Comerica by 3.1% in the second quarter. Farr Miller & Washington LLC DC now owns 5,754 shares of the financial services provider’s stock valued at $418,000 after purchasing an additional 172 shares during the last quarter. Paloma Partners Management Co increased its stake in Comerica by 46.7% in the second quarter. Paloma Partners Management Co now owns 57,240 shares of the financial services provider’s stock valued at $4,158,000 after purchasing an additional 18,232 shares during the last quarter. Pinebridge Investments L.P. increased its stake in Comerica by 34.1% in the second quarter. Pinebridge Investments L.P. now owns 320,030 shares of the financial services provider’s stock valued at $23,247,000 after purchasing an additional 81,408 shares during the last quarter. Finally, Hancock Whitney Corp increased its stake in Comerica by 43.6% in the first quarter. Hancock Whitney Corp now owns 132,341 shares of the financial services provider’s stock valued at $9,703,000 after purchasing an additional 40,168 shares during the last quarter. Hedge funds and other institutional investors own 86.54% of the company’s stock.

Shares of CMA stock traded up $1.09 during trading hours on Wednesday, hitting $65.61. The stock had a trading volume of 675,286 shares, compared to its average volume of 2,021,760. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s 50 day moving average is $62.64 and its 200 day moving average is $71.38. Comerica Incorporated has a twelve month low of $58.54 and a twelve month high of $94.52. The firm has a market capitalization of $9.85 billion, a PE ratio of 9.06, a PEG ratio of 0.59 and a beta of 1.52.



Comerica (NYSE:CMA) last issued its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.94 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.01 by ($0.07). Comerica had a return on equity of 16.92% and a net margin of 33.29%. The company had revenue of $853.00 million for the quarter, compared to analyst estimates of $859.09 million. During the same period in the prior year, the business earned $1.87 earnings per share. Comerica’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, equities analysts predict that Comerica Incorporated will post 7.83 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a dividend yield of 4.08%. The ex-dividend date is Thursday, September 12th. Comerica’s dividend payout ratio is presently 37.02%.

CMA has been the topic of several recent analyst reports. Morgan Stanley dropped their price target on shares of Comerica from $90.00 to $82.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 10th. SunTrust Banks dropped their price target on shares of Comerica from $75.00 to $67.00 and set a “hold” rating on the stock in a research note on Tuesday, September 10th. Citigroup lowered shares of Comerica from a “neutral” rating to a “sell” rating and dropped their price target for the company from $80.00 to $66.00 in a research note on Friday, July 12th. Goldman Sachs Group lowered shares of Comerica from a “neutral” rating to a “sell” rating and set a $70.00 price target on the stock. in a research note on Tuesday, July 2nd. Finally, Bank of America lowered shares of Comerica from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $85.00 to $71.00 in a research note on Thursday, July 11th. Seven investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have assigned a buy rating to the stock. Comerica currently has an average rating of “Hold” and an average target price of $81.48.

About Comerica

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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