Riverhead Capital Management LLC raised its position in Comerica Incorporated (NYSE:CMA) by 6.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,830 shares of the financial services provider’s stock after buying an additional 2,109 shares during the quarter. Riverhead Capital Management LLC’s holdings in Comerica were worth $2,961,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Sigma Planning Corp grew its holdings in Comerica by 14.2% in the 2nd quarter. Sigma Planning Corp now owns 4,569 shares of the financial services provider’s stock valued at $415,000 after buying an additional 569 shares in the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. grew its holdings in Comerica by 4.7% in the 2nd quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 13,264 shares of the financial services provider’s stock valued at $1,206,000 after buying an additional 600 shares in the last quarter. Advisor Partners LLC grew its holdings in Comerica by 7.3% in the 3rd quarter. Advisor Partners LLC now owns 9,662 shares of the financial services provider’s stock valued at $872,000 after buying an additional 658 shares in the last quarter. Strs Ohio grew its holdings in Comerica by 1.8% in the 3rd quarter. Strs Ohio now owns 39,675 shares of the financial services provider’s stock valued at $3,578,000 after buying an additional 697 shares in the last quarter. Finally, First Republic Investment Management Inc. grew its holdings in Comerica by 10.8% in the 2nd quarter. First Republic Investment Management Inc. now owns 7,294 shares of the financial services provider’s stock valued at $664,000 after buying an additional 713 shares in the last quarter. 84.97% of the stock is currently owned by hedge funds and other institutional investors.

Shares of CMA stock opened at $74.03 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.82. Comerica Incorporated has a twelve month low of $73.51 and a twelve month high of $102.66. The firm has a market cap of $12.15 billion, a P/E ratio of 15.65, a price-to-earnings-growth ratio of 0.53 and a beta of 1.38.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Tuesday, October 16th. The financial services provider reported $1.86 earnings per share for the quarter, topping the consensus estimate of $1.81 by $0.05. Comerica had a return on equity of 14.41% and a net margin of 29.54%. The business had revenue of $833.00 million during the quarter, compared to the consensus estimate of $852.72 million. During the same period in the prior year, the company earned $1.26 EPS. On average, research analysts expect that Comerica Incorporated will post 7.2 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 1st. Investors of record on Friday, December 14th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $2.40 annualized dividend and a dividend yield of 3.24%. Comerica’s dividend payout ratio is currently 50.74%.

A number of research analysts have commented on CMA shares. Macquarie lowered Comerica from an “outperform” rating to a “neutral” rating in a report on Friday, September 7th. Morgan Stanley decreased their price objective on Comerica from $111.00 to $107.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 18th. Zacks Investment Research lowered Comerica from a “buy” rating to a “hold” rating in a report on Tuesday, September 25th. Vining Sparks reaffirmed a “buy” rating and issued a $107.00 price objective on shares of Comerica in a report on Tuesday, October 9th. Finally, B. Riley set a $107.00 price objective on Comerica and gave the company a “buy” rating in a report on Monday, October 15th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Comerica presently has a consensus rating of “Hold” and an average target price of $101.61.

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Comerica Profile

Comerica, Inc engages in the provision of financial services. It operates through the following segments: Business Bank, Retail Bank, Wealth Management, Finance, and Other. The Business Bank segment involves in the middle market businesses, multinational corporations, and governmental entities by offering various products and services such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management, and loan syndication.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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