Private Trust Co. NA Buys 5,176 Shares of Comerica Incorporated (CMA)

Private Trust Co. NA lifted its stake in Comerica Incorporated (NYSE:CMA) by 80.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,638 shares of the financial services provider’s stock after purchasing an additional 5,176 shares during the quarter. Private Trust Co. NA’s holdings in Comerica were worth $1,010,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of CMA. Janus Henderson Group PLC boosted its stake in shares of Comerica by 12,425.0% in the second quarter. Janus Henderson Group PLC now owns 2,064,363 shares of the financial services provider’s stock valued at $151,194,000 after buying an additional 2,047,881 shares during the period. JPMorgan Chase & Co. lifted its stake in Comerica by 33.4% during the third quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock worth $507,632,000 after purchasing an additional 1,681,640 shares during the last quarter. Vanguard Group Inc. lifted its stake in Comerica by 6.7% during the second quarter. Vanguard Group Inc. now owns 18,161,488 shares of the financial services provider’s stock worth $1,330,147,000 after purchasing an additional 1,142,275 shares during the last quarter. State Street Corp lifted its stake in Comerica by 11.3% during the second quarter. State Street Corp now owns 9,990,021 shares of the financial services provider’s stock worth $731,672,000 after purchasing an additional 1,010,965 shares during the last quarter. Finally, Voya Investment Management LLC lifted its stake in Comerica by 132.7% during the second quarter. Voya Investment Management LLC now owns 1,692,458 shares of the financial services provider’s stock worth $123,956,000 after purchasing an additional 965,041 shares during the last quarter. Institutional investors and hedge funds own 81.95% of the company’s stock.

Comerica Incorporated (NYSE:CMA) traded up $0.52 during midday trading on Tuesday, reaching $93.04. The company had a trading volume of 1,623,500 shares, compared to its average volume of 1,484,022. The firm has a market capitalization of $16,181.05, a P/E ratio of 21.05, a price-to-earnings-growth ratio of 1.65 and a beta of 1.51. Comerica Incorporated has a 1-year low of $64.04 and a 1-year high of $93.54. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.58.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Tuesday, January 16th. The financial services provider reported $1.28 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.03. Comerica had a return on equity of 10.35% and a net margin of 24.87%. During the same period in the prior year, the business earned $0.92 earnings per share. sell-side analysts anticipate that Comerica Incorporated will post 4.85 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 1st. Investors of record on Friday, December 15th were issued a $0.30 dividend. The ex-dividend date was Thursday, December 14th. This represents a $1.20 dividend on an annualized basis and a yield of 1.29%. Comerica’s payout ratio is 27.15%.

Several research firms have weighed in on CMA. Zacks Investment Research upgraded Comerica from a “hold” rating to a “strong-buy” rating and set a $104.00 target price for the company in a research note on Wednesday, January 10th. SunTrust Banks restated a “hold” rating and set a $86.00 target price on shares of Comerica in a research note on Tuesday, January 9th. Vining Sparks restated a “buy” rating and set a $97.50 target price on shares of Comerica in a research note on Monday, January 8th. Nomura upgraded Comerica from a “neutral” rating to a “buy” rating and upped their target price for the stock from $86.00 to $106.00 in a research note on Friday, January 5th. Finally, Instinet upgraded shares of Comerica from a “neutral” rating to a “buy” rating in a report on Friday, January 5th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $87.07.

In other Comerica news, insider Michael T. Ritchie sold 4,596 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $75.08, for a total transaction of $345,067.68. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Christine M. Moore sold 3,200 shares of the company’s stock in a transaction on Friday, November 10th. The shares were sold at an average price of $75.07, for a total transaction of $240,224.00. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.

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Comerica Company Profile

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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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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