11 September, 2017
More recent Comerica Incorporated (NYSE:CMA) news were published by: Prnewswire.com which released: "Comerica To Donate $100000 in Support of Hurricane Harvey Disaster Relief Efforts" on August 29, 2017.
Hedge funds and other institutional investors have recently bought and sold shares of the stock.
Oaktop Capital Management Ii L.P. holds 6.89% of its portfolio in KLA-Tencor Corp for 400,750 shares. Finally, Genovese Burford & Brothers Wealth & Retirement Plan Management LLC grew its position in Comerica by 0.3% in the second quarter.
Symphony Asset Management Llc decreased Federal Rlty Invt Tr Sbi New (NYSE:FRT) stake by 16,670 shares to 7,646 valued at $1.09M in 2016Q4. Neuberger Berman Group LLC raised its stake in Comerica by 2.6% in the second quarter. Point72 Asia Hong Kong Ltd now owns 1,996 shares of the financial services provider's stock worth $137,000 after purchasing an additional 323 shares in the last quarter.
Ativo Capital Management Llc, which manages about $892.03 million and $424.26 million US Long portfolio, decreased its stake in Honeywell Intl Inc (NYSE:HON) by 3,000 shares to 14,000 shares, valued at $1.62M in 2016Q4, according to the filing. The Wealth Management segment offers products and services consisting of fiduciary services, private banking, retirement services, investment advisory services, investment banking and brokerage services.
Turning to Comerica Incorporated (NYSE:CMA), its shares were trading at $64.46 a retreat of $-2.42, on the trading floor. The company has a 50-day moving average price of $70.60 and a 200-day moving average price of $70.77. The company has market cap of $11.38 billion. Citigroup Incorporated reported 0.02% of its portfolio in Comerica Incorporated (NYSE:CMA). The financial services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.06 by $0.07. Comerica had a net margin of 23.22% and a return on equity of 9.60%. The company had revenue of $776 million for the quarter, compared to analysts' expectations of $777.08 million. During the same quarter past year, the company posted $0.58 earnings per share. The firm's revenue for the quarter was up 8.8% compared to the same quarter a year ago. Moreover, Heartland Advisors Inc has 0.94% invested in the company for 704,709 shares. This buyback authorization permits the financial services provider to purchase up to 4.8% of its shares through open market purchases. Stock repurchase programs are typically an indication that the company's board believes its stock is undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Sunday, October 1st. Earnest Prtnrs Ltd Limited Liability Company invested in 0% or 70 shares. The ex-dividend date is Monday, March 13th. This is an increase from Comerica's previous quarterly dividend of $0.26. This represents a $0.92 dividend on an annualized basis and a yield of 1.35%.
In the meantime, Comerica is now waiving ATM fees for its customers who might need to use other ATMs.
The stock increased 0.83% or $0.15 on September 8, reaching $18.15. $26.55's average target is 38.07% above currents $19.23 stock price.
In other news, insider Peter William Guilfoile sold 2,928 shares of Comerica stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $69.50, for a total transaction of $203,496.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,249 shares of company stock worth $3,095,383. Ameriprise Financial Inc. now owns 1,892,008 shares of the financial services provider's stock valued at $129,759,000 after buying an additional 1,741,818 shares during the period.
Several research analysts recently weighed in on the company.
Ratings analysis reveals 80% of KLA-Tencor's analysts are positive. Finally, Keefe, Bruyette & Woods restated a "buy" rating and issued a $78.00 price objective on shares of Comerica in a research report on Friday, June 16th. $5.93M worth of Comerica Incorporated (NYSE:CMA) shares were sold by BABB RALPH W JR. The lowest target is $25 while the high is $33. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have given a buy rating to the company's stock. Jefferies has "Hold" rating and $59 target. Whittier Trust Communication Of Nevada accumulated 1,325 shares. If you are accessing this article on another publication, it was copied illegally and republished in violation of global trademark and copyright law. The original version of this article can be accessed at https://www.truebluetribune.com/2017/09/10/comerica-incorporated-cma-rating-reiterated-by-piper-jaffray-companies.html. The Company's services and products are used by bare wafer, integrated circuit (IC), lithography reticle (reticle or mask) and disk manufacturers around the world. The Company's principal activity is lending to and accepting deposits from businesses and individuals.
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