Rice Hall James & Associates LLC reduced its stake in Comerica Inc. (NYSE:CMA) by 0.7% during the second quarter, Holdings Channel reports. The fund owned 43,655 shares of the financial services provider’s stock after selling 309 shares during the period. Rice Hall James & Associates LLC’s holdings in Comerica were worth $1,796,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of CMA. Advisor Partners LLC acquired a new position in Comerica during the first quarter valued at $236,000. National Planning Corp acquired a new position in Comerica during the first quarter valued at $239,000. ING Groep NV acquired a new position in Comerica during the second quarter valued at $253,000. Massmutual Trust Co. FSB ADV increased its position in Comerica by 3.4% in the first quarter. Massmutual Trust Co. FSB ADV now owns 7,087 shares of the financial services provider’s stock valued at $268,000 after buying an additional 230 shares during the last quarter. Finally, Clarkston Capital Partners LLC increased its position in Comerica by 0.6% in the second quarter. Clarkston Capital Partners LLC now owns 9,480 shares of the financial services provider’s stock valued at $390,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 84.62% of the company’s stock.
Comerica Inc. (NYSE:CMA) traded down 0.45% during mid-day trading on Friday, hitting $48.98. 1,826,557 shares of the stock were exchanged. The stock has a market cap of $8.52 billion, a price-to-earnings ratio of 21.27 and a beta of 1.36. Comerica Inc. has a 52-week low of $30.48 and a 52-week high of $49.62. The stock has a 50 day moving average of $46.86 and a 200-day moving average of $43.87.
Comerica (NYSE:CMA) last released its earnings results on Tuesday, July 19th. The financial services provider reported $0.58 EPS for the quarter, missing the Zacks’ consensus estimate of $0.69 by $0.11. Comerica had a return on equity of 6.03% and a net margin of 14.69%. Equities analysts predict that Comerica Inc. will post $2.41 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Saturday, October 1st. Investors of record on Thursday, September 15th were issued a dividend of $0.23 per share. This is an increase from Comerica’s previous quarterly dividend of $0.22. The ex-dividend date was Tuesday, September 13th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.88%. Comerica’s payout ratio is 38.82%.
Several research firms have recently weighed in on CMA. Wedbush assumed coverage on shares of Comerica in a research note on Thursday. They issued a “neutral” rating and a $49.00 target price for the company. Compass Point raised their price objective on shares of Comerica from $40.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, July 20th. Zacks Investment Research upgraded shares of Comerica from a “sell” rating to a “hold” rating in a research report on Thursday, June 30th. FBR & Co raised their price objective on shares of Comerica from $48.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, July 20th. Finally, Nomura restated a “hold” rating on shares of Comerica in a research report on Saturday, July 9th. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $44.67.
In related news, insider Paul R. Obermeyer sold 2,302 shares of Comerica stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $45.92, for a total transaction of $105,707.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.
Comerica Incorporated (Comerica) is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. Comerica has its operations in three business segments: the Business Bank, the Retail Bank and Wealth Management. In addition to the three business segments, it also operates in the Finance segment.
Want to see what other hedge funds are holding CMA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comerica Inc. (NYSE:CMA).
Receive News & Ratings for Comerica Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comerica Inc. and related companies with MarketBeat.com's FREE daily email newsletter.