Comerica Incorporated (CMA) Shares Bought by Signature Estate & Investment Advisors LLC
Signature Estate & Investment Advisors LLC grew its holdings in Comerica Incorporated (NYSE:CMA) by 15.7% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,992 shares of the financial services provider’s stock after purchasing an additional 1,222 shares during the period. Signature Estate & Investment Advisors LLC’s holdings in Comerica were worth $686,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC raised its holdings in shares of Comerica by 0.3% in the second quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 2,315 shares of the financial services provider’s stock valued at $169,000 after purchasing an additional 8 shares during the last quarter. National Planning Corp raised its holdings in shares of Comerica by 0.4% in the second quarter. National Planning Corp now owns 5,763 shares of the financial services provider’s stock valued at $429,000 after purchasing an additional 21 shares during the last quarter. Contravisory Investment Management Inc. raised its holdings in shares of Comerica by 0.7% in the second quarter. Contravisory Investment Management Inc. now owns 3,588 shares of the financial services provider’s stock valued at $263,000 after purchasing an additional 25 shares during the last quarter. Veritable L.P. raised its holdings in shares of Comerica by 0.3% in the second quarter. Veritable L.P. now owns 10,844 shares of the financial services provider’s stock valued at $794,000 after purchasing an additional 32 shares during the last quarter. Finally, Cadence Capital Management LLC raised its holdings in shares of Comerica by 0.8% in the second quarter. Cadence Capital Management LLC now owns 7,039 shares of the financial services provider’s stock valued at $516,000 after purchasing an additional 58 shares during the last quarter. Institutional investors own 82.34% of the company’s stock.
Shares of Comerica Incorporated (CMA) traded up $2.01 during trading on Tuesday, hitting $76.94. 2,256,300 shares of the stock were exchanged, compared to its average volume of 1,702,870. The company has a market capitalization of $13,031.45, a PE ratio of 16.91, a PEG ratio of 1.71 and a beta of 1.50. Comerica Incorporated has a 52 week low of $57.93 and a 52 week high of $80.25. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.00 and a current ratio of 1.00.
Comerica (NYSE:CMA) last announced its earnings results on Tuesday, October 17th. The financial services provider reported $1.26 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.03. The company had revenue of $821.00 million during the quarter, compared to analysts’ expectations of $812.83 million. Comerica had a net margin of 24.87% and a return on equity of 10.35%. During the same quarter in the previous year, the business posted $0.84 earnings per share. equities analysts anticipate that Comerica Incorporated will post 4.86 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 15th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.56%. Comerica’s payout ratio is presently 27.15%.
Comerica announced that its Board of Directors has initiated a share buyback plan on Tuesday, July 25th that allows the company to repurchase 5,000,000 shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.
A number of analysts have recently issued reports on CMA shares. Nomura lifted their price objective on shares of Comerica from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, October 23rd. Zacks Investment Research upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $80.00 price objective on the stock in a report on Thursday, August 17th. Piper Jaffray Companies reiterated a “hold” rating and issued a $76.00 price objective on shares of Comerica in a report on Friday, September 1st. FBR & Co set a $79.00 price objective on shares of Comerica and gave the company a “buy” rating in a report on Tuesday, July 18th. Finally, Sanford C. Bernstein reiterated a “market perform” rating and issued a $80.00 price objective (up from $78.00) on shares of Comerica in a report on Saturday, September 16th. Three equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and seven have given a buy rating to the company. Comerica has an average rating of “Hold” and a consensus target price of $78.00.
In other news, insider Peter William Guilfoile sold 2,928 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $69.50, for a total value of $203,496.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Judith S. Love sold 21,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $69.74, for a total transaction of $1,464,540.00. The disclosure for this sale can be found here. In the last three months, insiders sold 44,249 shares of company stock valued at $3,095,383. 1.10% of the stock is currently owned by company insiders.
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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