2,623 Shares in Comerica Incorporated (CMA) Purchased by Zeke Capital Advisors LLC

Zeke Capital Advisors LLC bought a new stake in shares of Comerica Incorporated (NYSE:CMA) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 2,623 shares of the financial services provider’s stock, valued at approximately $200,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Picton Mahoney Asset Management increased its stake in shares of Comerica by 18.7% during the third quarter. Picton Mahoney Asset Management now owns 311,600 shares of the financial services provider’s stock valued at $23,761,000 after purchasing an additional 49,000 shares in the last quarter. Dai Ichi Life Insurance Company Ltd increased its stake in shares of Comerica by 268.0% during the third quarter. Dai Ichi Life Insurance Company Ltd now owns 92,809 shares of the financial services provider’s stock valued at $7,078,000 after purchasing an additional 67,589 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Comerica by 8.8% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,306 shares of the financial services provider’s stock valued at $1,091,000 after purchasing an additional 1,161 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of Comerica by 33.4% during the third quarter. JPMorgan Chase & Co. now owns 6,721,807 shares of the financial services provider’s stock valued at $507,632,000 after purchasing an additional 1,681,640 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in shares of Comerica by 2.8% during the third quarter. Legal & General Group Plc now owns 900,637 shares of the financial services provider’s stock valued at $68,682,000 after purchasing an additional 24,133 shares in the last quarter. 82.04% of the stock is owned by institutional investors and hedge funds.

In related news, insider Michael T. Ritchie sold 4,596 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $75.08, for a total value of $345,067.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Christine M. Moore sold 3,200 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $75.07, for a total transaction of $240,224.00. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.

Shares of Comerica Incorporated (NYSE CMA) opened at $85.11 on Tuesday. 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. The company has a market cap of $14,570.60, a P/E ratio of 18.91, a PEG ratio of 1.92 and a beta of 1.51.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Tuesday, October 17th. The financial services provider reported $1.26 EPS for the quarter, beating the Zacks’ consensus estimate of $1.23 by $0.03. Comerica had a net margin of 24.87% and a return on equity of 10.35%. The firm had revenue of $821.00 million for the quarter, compared to analysts’ expectations of $812.83 million. During the same quarter in the prior year, the company posted $0.84 earnings per share. sell-side analysts forecast that Comerica Incorporated will post 4.85 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Investors of record on Friday, December 15th will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend is Thursday, December 14th. Comerica’s dividend payout ratio is currently 27.15%.

A number of equities analysts have weighed in on CMA shares. Jefferies Group reaffirmed a “buy” rating and set a $81.00 target price on shares of Comerica in a research note on Friday, September 15th. Zacks Investment Research raised shares of Comerica from a “hold” rating to a “buy” rating and set a $80.00 target price for the company in a research note on Thursday, August 17th. Royal Bank Of Canada reaffirmed a “buy” rating and set a $82.00 target price on shares of Comerica in a research note on Friday, September 8th. FBR & Co reaffirmed a “buy” rating and set a $79.00 target price on shares of Comerica in a research note on Friday, September 8th. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $79.00 target price on shares of Comerica in a research note on Friday, September 22nd. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and eight have issued a buy rating to the company’s stock. Comerica has an average rating of “Hold” and a consensus price target of $79.60.

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About Comerica

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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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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