TD Asset Management Inc. Lowers Holdings in Comerica Incorporated (CMA)
TD Asset Management Inc. reduced its holdings in shares of Comerica Incorporated (NYSE:CMA) by 5.9% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 62,220 shares of the financial services provider’s stock after selling 3,899 shares during the period. TD Asset Management Inc.’s holdings in Comerica were worth $4,745,000 as of its most recent filing with the SEC.
Other institutional investors have also modified their holdings of the company. IBM Retirement Fund purchased a new position in Comerica during the 3rd quarter worth $200,000. BB&T Corp purchased a new stake in shares of Comerica in the third quarter valued at about $206,000. Marshall Wace North America L.P. purchased a new stake in shares of Comerica in the second quarter valued at about $208,000. HGK Asset Management Inc. purchased a new stake in shares of Comerica in the second quarter valued at about $209,000. Finally, Eqis Capital Management Inc. purchased a new stake in shares of Comerica in the third quarter valued at about $250,000. 82.04% of the stock is currently owned by institutional investors.
Shares of Comerica Incorporated (NYSE CMA) opened at $83.23 on Thursday. The company has a market cap of $14,598.43, a PE ratio of 18.95, a P/E/G ratio of 1.92 and a beta of 1.51. Comerica Incorporated has a fifty-two week low of $64.04 and a fifty-two week high of $86.78. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.58.
Comerica (NYSE:CMA) last released its quarterly earnings data on Tuesday, October 17th. The financial services provider reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.23 by $0.03. The firm had revenue of $821.00 million for the quarter, compared to the consensus estimate 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 firm earned $0.84 earnings per share. analysts forecast that Comerica Incorporated will post 4.85 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Thursday, December 14th. Comerica’s payout ratio is currently 27.15%.
CMA has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Comerica from a “buy” rating to a “hold” rating in a report on Wednesday, November 1st. Nomura lifted their target price on shares of Comerica from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, October 23rd. Citigroup reaffirmed a “sell” rating and issued a $69.00 target price (up previously from $65.00) on shares of Comerica in a report on Monday, October 9th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $80.00 target price (up previously from $78.00) on shares of Comerica in a report on Saturday, September 16th. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $70.00 target price on shares of Comerica in a report on Friday, August 25th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and nine have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $79.81.
In other Comerica news, EVP Christine M. Moore sold 3,200 shares of Comerica stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $75.07, for a total transaction of $240,224.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael T. Ritchie sold 4,596 shares of Comerica stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $75.08, for a total transaction of $345,067.68. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Comerica Company Profile
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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