Utah Retirement Systems increased its stake in shares of Comerica Incorporated (NYSE:CMA) by 0.3% during the first quarter, Holdings Channel reports. The institutional investor owned 31,896 shares of the financial services provider’s stock after buying an additional 100 shares during the period. Utah Retirement Systems’ holdings in Comerica were worth $2,187,000 as of its most recent filing with the SEC.
Other large investors also recently added to or reduced their stakes in the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its stake in Comerica by 0.3% in the first quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,307 shares of the financial services provider’s stock valued at $159,000 after buying an additional 8 shares in the last quarter. National Planning Corp raised its stake in Comerica by 0.3% in the fourth quarter. National Planning Corp now owns 5,723 shares of the financial services provider’s stock valued at $385,000 after buying an additional 18 shares in the last quarter. Jaffetilchin Investment Partners LLC raised its stake in Comerica by 0.4% in the first quarter. Jaffetilchin Investment Partners LLC now owns 7,550 shares of the financial services provider’s stock valued at $518,000 after buying an additional 32 shares in the last quarter. Pacer Advisors Inc. raised its stake in Comerica by 3.3% in the first quarter. Pacer Advisors Inc. now owns 3,282 shares of the financial services provider’s stock valued at $225,000 after buying an additional 104 shares in the last quarter. Finally, World Asset Management Inc raised its stake in Comerica by 1.3% in the first quarter. World Asset Management Inc now owns 8,406 shares of the financial services provider’s stock valued at $576,000 after buying an additional 107 shares in the last quarter. Institutional investors own 81.74% of the company’s stock.
Comerica Incorporated (NYSE:CMA) traded up 1.01% on Wednesday, reaching $69.11. The company’s stock had a trading volume of 245,344 shares. The firm’s 50 day moving average is $69.83 and its 200-day moving average is $68.96. Comerica Incorporated has a 12 month low of $36.82 and a 12 month high of $75.00. The firm has a market cap of $12.23 billion, a P/E ratio of 20.03 and a beta of 1.43.
Comerica (NYSE:CMA) last issued its quarterly earnings data on Tuesday, April 18th. The financial services provider reported $1.11 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.10. Comerica had a net margin of 16.00% and a return on equity of 6.92%. The company had revenue of $741 million for the quarter, compared to analysts’ expectations of $735.06 million. During the same quarter in the previous year, the firm posted $0.34 earnings per share. On average, equities research analysts anticipate that Comerica Incorporated will post $4.40 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Investors of record on Thursday, June 15th will be paid a $0.26 dividend. This is a boost from Comerica’s previous quarterly dividend of $0.23. The ex-dividend date is Tuesday, June 13th. This represents a $1.04 annualized dividend and a dividend yield of 1.52%. Comerica’s payout ratio is currently 34.33%.
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Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods set a $71.00 price objective on Comerica and gave the company a “buy” rating in a research note on Saturday, March 25th. Jefferies Group LLC reiterated a “buy” rating and issued a $81.00 price objective on shares of Comerica in a research note on Monday, May 15th. Morgan Stanley upped their price objective on Comerica from $70.00 to $71.00 and gave the company an “equal weight” rating in a research note on Tuesday. Royal Bank of Canada reiterated a “buy” rating and issued a $78.00 price objective on shares of Comerica in a research note on Tuesday, April 4th. Finally, FBR & Co reiterated a “market perform” rating and issued a $74.00 price objective on shares of Comerica in a research note on Wednesday, April 19th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. Comerica presently has an average rating of “Hold” and an average target price of $59.33.
In related news, CEO Ralph W. Babb, Jr. sold 83,600 shares of the business’s stock in a transaction on Monday, May 1st. The shares were sold at an average price of $70.94, for a total value of $5,930,584.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.60% of the company’s stock.
Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. The Company’s segments include the Business Bank, the Retail Bank, Wealth Management, Finance and Other. The Business Bank serves middle market businesses, multinational corporations and governmental entities by offering 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.
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