Barings LLC raised its position in shares of Comerica Incorporated (NYSE:CMA) by 54.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 74,845 shares of the financial services provider’s stock after purchasing an additional 26,300 shares during the period. Barings LLC’s holdings in Comerica were worth $6,497,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the business. Prescott Group Capital Management L.L.C. acquired a new position in Comerica during the 4th quarter valued at about $347,000. Strycker View Capital LLC acquired a new position in Comerica during the 4th quarter valued at about $24,003,000. Oppenheimer & Co. Inc. acquired a new position in Comerica during the 4th quarter valued at about $747,000. Affinity Investment Advisors LLC acquired a new position in Comerica during the 4th quarter valued at about $2,250,000. Finally, Teacher Retirement System of Texas acquired a new position in Comerica during the 4th quarter valued at about $4,143,000. 82.91% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Ralph W. Babb, Jr. sold 61,500 shares of the stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $94.02, for a total transaction of $5,782,230.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Peter William Guilfoile sold 1,052 shares of the stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $97.00, for a total transaction of $102,044.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 211,015 shares of company stock valued at $20,194,360. Company insiders own 1.10% of the company’s stock.
Comerica (NYSE:CMA) last released its earnings results on Tuesday, January 16th. The financial services provider reported $1.28 EPS for the quarter, beating the consensus estimate of $1.25 by $0.03. Comerica had a net margin of 22.47% and a return on equity of 10.94%. The business had revenue of $830.00 million during the quarter, compared to analyst estimates of $819.30 million. During the same period in the prior year, the business earned $0.92 earnings per share. equities analysts predict that Comerica Incorporated will post 6.56 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Thursday, March 15th will be paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 1.23%. The ex-dividend date of this dividend is Wednesday, March 14th. Comerica’s dividend payout ratio is presently 29.06%.
CMA has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reissued a “buy” rating and set a $101.00 target price on shares of Comerica in a research note on Friday, December 22nd. Zacks Investment Research lowered shares of Comerica from a “buy” rating to a “hold” rating in a research note on Wednesday, November 1st. Vining Sparks reissued a “buy” rating and set a $97.50 target price on shares of Comerica in a research note on Tuesday, January 16th. Nomura boosted their target price on shares of Comerica from $74.00 to $86.00 and gave the company a “neutral” rating in a research note on Monday, October 23rd. Finally, Royal Bank of Canada reissued a “buy” rating and set a $103.00 target price on shares of Comerica in a research note on Wednesday, January 17th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $92.37.
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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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