Westhampton Capital LLC Acquires Shares of 6,775 Comerica Incorporated (NYSE:CMA)

Westhampton Capital LLC acquired a new stake in shares of Comerica Incorporated (NYSE:CMA) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,775 shares of the financial services provider’s stock, valued at approximately $492,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP increased its stake in shares of Comerica by 11.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,003,942 shares of the financial services provider’s stock worth $68,959,000 after purchasing an additional 100,589 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Comerica by 3.6% during the 4th quarter. Geode Capital Management LLC now owns 2,230,560 shares of the financial services provider’s stock worth $152,960,000 after purchasing an additional 76,845 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Comerica by 1.1% during the 1st quarter. Retirement Systems of Alabama now owns 74,036 shares of the financial services provider’s stock worth $5,428,000 after purchasing an additional 799 shares during the last quarter. Strs Ohio increased its stake in shares of Comerica by 2.7% during the 1st quarter. Strs Ohio now owns 27,903 shares of the financial services provider’s stock worth $2,045,000 after purchasing an additional 736 shares during the last quarter. Finally, CWM LLC increased its stake in shares of Comerica by 247.5% during the 1st quarter. CWM LLC now owns 424 shares of the financial services provider’s stock worth $31,000 after purchasing an additional 302 shares during the last quarter. Institutional investors and hedge funds own 85.32% of the company’s stock.

NYSE:CMA traded down $1.21 during trading hours on Friday, hitting $60.35. The stock had a trading volume of 52,246 shares, compared to its average volume of 2,030,985. The company has a 50 day simple moving average of $68.08 and a two-hundred day simple moving average of $74.92. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.02 and a quick ratio of 1.02. Comerica Incorporated has a one year low of $59.00 and a one year high of $99.61. The firm has a market capitalization of $9.09 billion, a price-to-earnings ratio of 8.34, a P/E/G ratio of 0.54 and a beta of 1.45.

Comerica (NYSE:CMA) last announced its quarterly earnings results 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). Comerica had a net margin of 33.29% and a return on equity of 16.92%. The firm had revenue of $853.00 million during the quarter, compared to the consensus estimate of $859.09 million. During the same period in the previous year, the business earned $1.87 earnings per share. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts anticipate that Comerica Incorporated will post 7.92 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 4.44%. The ex-dividend date is Thursday, September 12th. Comerica’s payout ratio is 37.02%.

A number of research analysts recently weighed in on CMA shares. UBS Group lowered shares of Comerica from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $100.00 to $73.00 in a research note on Monday, August 5th. Piper Jaffray Companies set a $91.00 price objective on shares of Comerica and gave the company a “buy” rating in a research note on Tuesday, June 11th. Citigroup lowered shares of Comerica from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $80.00 to $66.00 in a research note on Friday, July 12th. Goldman Sachs Group lowered shares of Comerica from a “neutral” rating to a “sell” rating and set a $70.00 price objective for the company. in a research note on Tuesday, July 2nd. Finally, Wedbush reduced their price objective on shares of Comerica from $75.00 to $71.00 and set a “neutral” rating for the company in a research note on Thursday. Six equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $84.38.

Comerica Company Profile

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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