Comerica Incorporated (CMA) Stake Boosted by BB&T Securities LLC

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BB&T Securities LLC lifted its holdings in Comerica Incorporated (NYSE:CMA) by 93.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,799 shares of the financial services provider’s stock after purchasing an additional 26,447 shares during the period. BB&T Securities LLC’s holdings in Comerica were worth $3,764,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Comerica by 136.6% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 28,103 shares of the financial services provider’s stock worth $1,930,000 after purchasing an additional 16,226 shares during the period. LS Investment Advisors LLC increased its stake in shares of Comerica by 7.4% in the fourth quarter. LS Investment Advisors LLC now owns 5,453 shares of the financial services provider’s stock worth $375,000 after purchasing an additional 377 shares during the period. Lockheed Martin Investment Management Co. bought a new position in shares of Comerica in the fourth quarter worth about $941,000. Janney Montgomery Scott LLC increased its stake in shares of Comerica by 455.5% in the fourth quarter. Janney Montgomery Scott LLC now owns 67,661 shares of the financial services provider’s stock worth $4,648,000 after purchasing an additional 55,481 shares during the period. Finally, Creative Planning increased its stake in shares of Comerica by 200.8% in the fourth quarter. Creative Planning now owns 21,190 shares of the financial services provider’s stock worth $1,456,000 after purchasing an additional 14,146 shares during the period. Institutional investors and hedge funds own 84.74% of the company’s stock.

NYSE CMA opened at $83.06 on Tuesday. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $13.35 billion, a price-to-earnings ratio of 11.47, a P/E/G ratio of 0.51 and a beta of 1.42. Comerica Incorporated has a 1-year low of $63.69 and a 1-year high of $102.66.

Comerica (NYSE:CMA) last released its quarterly earnings data on Wednesday, January 16th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.87 by $0.08. The company had revenue of $864.00 million for the quarter, compared to the consensus estimate of $863.43 million. Comerica had a return on equity of 15.84% and a net margin of 34.24%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.28 earnings per share. On average, sell-side analysts predict that Comerica Incorporated will post 8.19 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 15th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.23%. This is an increase from Comerica’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, March 14th. Comerica’s payout ratio is presently 33.15%.

Comerica announced that its board has authorized a share repurchase plan on Tuesday, January 22nd that authorizes the company to buyback 15,000,000 outstanding shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

A number of research firms have recently commented on CMA. B. Riley lowered Comerica from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $107.00 to $84.00 in a research note on Monday, December 10th. Royal Bank of Canada lifted their price objective on Comerica to $100.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 17th. Citigroup upgraded Comerica from a “sell” rating to a “neutral” rating in a research note on Friday, November 2nd. Raymond James upgraded Comerica from an “outperform” rating to a “strong-buy” rating and set a $104.00 price target on the stock in a research note on Wednesday, October 31st. They noted that the move was a valuation call. Finally, ValuEngine lowered Comerica from a “hold” rating to a “sell” rating in a research note on Monday, October 22nd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Comerica currently has an average rating of “Hold” and an average target price of $95.52.

In other Comerica news, insider Peter William Guilfoile sold 2,922 shares of Comerica stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $82.26, for a total transaction of $240,363.72. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.83% of the stock is currently owned by insiders.

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Comerica Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through three segments: Business Bank, the Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication services to middle market businesses, multinational corporations, and governmental entities.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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