Toronto Dominion Bank lifted its stake in Comerica Incorporated (NYSE:CMA) by 12.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 75,032 shares of the financial services provider’s stock after buying an additional 8,262 shares during the period. Toronto Dominion Bank’s holdings in Comerica were worth $6,513,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in the company. Signature Estate & Investment Advisors LLC boosted its holdings in shares of Comerica by 6.8% in the 4th quarter. Signature Estate & Investment Advisors LLC now owns 9,605 shares of the financial services provider’s stock worth $834,000 after purchasing an additional 613 shares during the period. US Bancorp DE boosted its holdings in shares of Comerica by 3.0% in the 4th quarter. US Bancorp DE now owns 22,150 shares of the financial services provider’s stock worth $1,922,000 after purchasing an additional 641 shares during the period. Xact Kapitalforvaltning AB boosted its holdings in shares of Comerica by 6.4% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 14,702 shares of the financial services provider’s stock worth $1,121,000 after purchasing an additional 884 shares during the period. Global X MANAGEMENT CO LLC boosted its holdings in shares of Comerica by 10.4% in the 3rd quarter. Global X MANAGEMENT CO LLC now owns 9,779 shares of the financial services provider’s stock worth $746,000 after purchasing an additional 922 shares during the period. Finally, Chevy Chase Trust Holdings Inc. boosted its holdings in Comerica by 0.6% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 156,286 shares of the financial services provider’s stock valued at $11,919,000 after acquiring an additional 994 shares during the period. Hedge funds and other institutional investors own 83.26% of the company’s stock.
In related news, EVP Megan D. Burkhart sold 3,000 shares of the business’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $94.80, for a total transaction of $284,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ralph W. Babb, Jr. sold 65,300 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $97.61, for a total value of $6,373,933.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 211,015 shares of company stock valued at $20,194,360. Corporate insiders own 1.10% of the company’s stock.
Comerica (NYSE:CMA) last released its quarterly earnings results on Tuesday, January 16th. The financial services provider reported $1.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.03. The firm had revenue of $830.00 million during the quarter, compared to analyst estimates of $819.30 million. Comerica had a return on equity of 10.94% and a net margin of 22.47%. During the same period in the previous year, the company posted $0.92 EPS. research analysts anticipate that Comerica Incorporated will post 6.56 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Thursday, March 15th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Wednesday, March 14th. Comerica’s payout ratio is 29.06%.
A number of equities analysts recently issued reports on CMA shares. Keefe, Bruyette & Woods restated a “buy” rating and set a $101.00 price objective on shares of Comerica in a report on Friday, December 22nd. Nomura boosted their price objective on Comerica from $74.00 to $86.00 and gave the company a “neutral” rating in a report on Monday, October 23rd. Zacks Investment Research lowered Comerica from a “buy” rating to a “hold” rating in a research report on Tuesday, December 19th. SunTrust Banks reaffirmed a “hold” rating and set a $83.00 target price on shares of Comerica in a research report on Wednesday, November 29th. Finally, Macquarie raised Comerica from a “neutral” rating to an “outperform” rating and set a $90.00 target price for the company in a research report on Friday, November 17th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $92.37.
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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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