Sheaff Brock Investment Advisors LLC grew its holdings in shares of Comerica Incorporated (NYSE:CMA) by 24.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,028 shares of the financial services provider’s stock after buying an additional 1,000 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in Comerica were worth $365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. First Manhattan Co. lifted its holdings in Comerica by 4.2% during the 1st quarter. First Manhattan Co. now owns 3,777 shares of the financial services provider’s stock worth $276,000 after buying an additional 152 shares during the last quarter. Crossmark Global Holdings Inc. lifted its holdings in Comerica by 1.7% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,775 shares of the financial services provider’s stock worth $783,000 after buying an additional 175 shares during the last quarter. Piedmont Investment Advisors Inc. lifted its holdings in Comerica by 5.8% during the 1st quarter. Piedmont Investment Advisors Inc. now owns 3,258 shares of the financial services provider’s stock worth $239,000 after buying an additional 178 shares during the last quarter. Chemical Bank lifted its holdings in shares of Comerica by 1.3% in the 1st quarter. Chemical Bank now owns 15,051 shares of the financial services provider’s stock valued at $1,104,000 after purchasing an additional 200 shares during the last quarter. Finally, Cerebellum GP LLC lifted its holdings in shares of Comerica by 6.1% in the 1st quarter. Cerebellum GP LLC now owns 3,925 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 225 shares during the last quarter. 85.70% of the stock is owned by institutional investors.

CMA traded up $0.16 on Thursday, hitting $59.93. 163,158 shares of the company traded hands, compared to its average volume of 2,366,840. The stock’s 50 day moving average is $69.75. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market cap of $8.93 billion, a PE ratio of 8.28, a PEG ratio of 0.54 and a beta of 1.45. Comerica Incorporated has a 12-month low of $59.26 and a 12-month high of $100.64.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.94 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.01 by ($0.07). The company had revenue of $853.00 million for the quarter, compared to analysts’ expectations of $859.09 million. Comerica had a net margin of 33.29% and a return on equity of 16.92%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the company earned $1.87 earnings per share. Equities analysts expect that Comerica Incorporated will post 7.99 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.67 per share. This represents a $2.68 annualized dividend and a yield of 4.47%. The ex-dividend date is Thursday, September 12th. Comerica’s payout ratio is 37.02%.

In other Comerica news, EVP Christine M. Moore sold 3,200 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $73.49, for a total transaction of $235,168.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.98% of the company’s stock.

Several analysts have recently weighed in on the company. UBS Group downgraded Comerica from a “buy” rating to a “neutral” rating and reduced their target price for the company from $100.00 to $73.00 in a report on Monday, August 5th. B. Riley set a $75.00 target price on Comerica and gave the company a “hold” rating in a report on Thursday, July 11th. Piper Jaffray Companies set a $91.00 target price on Comerica and gave the company a “buy” rating in a report on Tuesday, June 11th. Raymond James downgraded Comerica from an “outperform” rating to a “market perform” rating in a report on Monday, July 8th. Finally, Citigroup downgraded Comerica from a “neutral” rating to a “sell” rating and reduced their target price for the company from $80.00 to $66.00 in a report on Friday, July 12th. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have given a buy rating to the company’s stock. Comerica currently has a consensus rating of “Hold” and an average target price of $85.05.

About Comerica

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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