Comerica Incorporated (NYSE:CMA) Shares Sold by Keybank National Association OH

Keybank National Association OH trimmed its holdings in shares of Comerica Incorporated (NYSE:CMA) by 10.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 310,315 shares of the financial services provider’s stock after selling 36,403 shares during the quarter. Keybank National Association OH owned 0.22% of Comerica worth $20,478,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Covington Capital Management increased its position in shares of Comerica by 88.5% during the 2nd quarter. Covington Capital Management now owns 411 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 193 shares during the last quarter. Cerebellum GP LLC acquired a new position in Comerica in the 3rd quarter valued at about $38,000. CSat Investment Advisory L.P. grew its position in Comerica by 170.5% in the 2nd quarter. CSat Investment Advisory L.P. now owns 706 shares of the financial services provider’s stock valued at $52,000 after acquiring an additional 445 shares in the last quarter. Creative Financial Designs Inc. ADV acquired a new position in Comerica in the 2nd quarter valued at about $51,000. Finally, Kavar Capital Partners LLC acquired a new position in Comerica in the 2nd quarter valued at about $73,000. 86.02% of the stock is owned by hedge funds and other institutional investors.

In related news, Director Reginald M. Turner, Jr. sold 2,495 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $66.66, for a total transaction of $166,316.70. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.98% of the company’s stock.

Several equities analysts have weighed in on CMA shares. B. Riley dropped their target price on Comerica from $73.00 to $65.00 and set a “neutral” rating for the company in a research report on Friday, October 4th. ValuEngine raised Comerica from a “hold” rating to a “buy” rating in a research report on Friday, November 1st. Wedbush dropped their target price on Comerica from $75.00 to $71.00 and set a “neutral” rating for the company in a research report on Thursday, August 22nd. Citigroup dropped their target price on Comerica from $66.00 to $54.00 and set a “sell” rating for the company in a research report on Wednesday, October 9th. Finally, Piper Jaffray Companies downgraded Comerica from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $74.50 to $72.50 in a research report on Thursday, October 17th. Seven equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $73.75.

Shares of NYSE:CMA traded down $0.09 during trading on Friday, reaching $71.69. The company had a trading volume of 61,181 shares, compared to its average volume of 1,533,284. The firm has a market capitalization of $10.26 billion, a price-to-earnings ratio of 9.91, a price-to-earnings-growth ratio of 0.57 and a beta of 1.54. The company has a debt-to-equity ratio of 1.02, a current ratio of 1.03 and a quick ratio of 1.03. The stock’s fifty day moving average price is $65.78 and its 200 day moving average price is $68.66. Comerica Incorporated has a fifty-two week low of $58.54 and a fifty-two week high of $88.96.

Comerica (NYSE:CMA) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.90 by $0.06. The business had revenue of $842.00 million for the quarter, compared to analyst estimates of $836.10 million. Comerica had a return on equity of 16.82% and a net margin of 32.11%. During the same quarter in the previous year, the company posted $1.86 earnings per share. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities analysts anticipate that Comerica Incorporated will post 7.71 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be issued a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date of this dividend is Thursday, December 12th. Comerica’s dividend payout ratio is presently 37.02%.

Comerica Company Profile

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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