The Morgan Stanley Increases Position in Comerica Inc. (CMA)

The Morgan Stanley Increases Position in Comerica Inc. (CMA)

Morgan Stanley boosted its stake in Comerica Inc. (NYSE:CMA) by 314.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,362,262 shares of the financial services provider’s stock after buying an additional 1,033,275 shares during the period. Morgan Stanley’s holdings in Comerica were worth $64,464,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. Channing Capital Management LLC acquired a new stake in Comerica during the second quarter worth approximately $10,684,000. Pillar Pacific Capital Management LLC increased its stake in Comerica by 5.9% in the second quarter. Pillar Pacific Capital Management LLC now owns 64,531 shares of the financial services provider’s stock worth $2,654,000 after buying an additional 3,602 shares during the last quarter. Chicago Equity Partners LLC increased its stake in Comerica by 0.9% in the second quarter. Chicago Equity Partners LLC now owns 8,040 shares of the financial services provider’s stock worth $331,000 after buying an additional 70 shares during the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its stake in Comerica by 1.5% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 13,812 shares of the financial services provider’s stock worth $568,000 after buying an additional 209 shares during the last quarter. Finally, LMR Partners LLP increased its stake in Comerica by 251.2% in the second quarter. LMR Partners LLP now owns 24,413 shares of the financial services provider’s stock worth $1,004,000 after buying an additional 17,462 shares during the last quarter. 80.79% of the stock is currently owned by institutional investors and hedge funds.

Comerica Inc. (NYSE:CMA) opened at 66.31 on Friday. The firm has a market capitalization of $11.62 billion, a price-to-earnings ratio of 24.74 and a beta of 1.44. The stock’s 50 day moving average is $68.30 and its 200-day moving average is $53.36. Comerica Inc. has a 52 week low of $30.48 and a 52 week high of $71.20.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Tuesday, January 17th. The financial services provider reported $0.92 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.05. Comerica had a net margin of 16.00% and a return on equity of 6.92%. The firm had revenue of $722 million for the quarter, compared to the consensus estimate of $728.90 million. During the same period in the prior year, the firm posted $0.71 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts expect that Comerica Inc. will post $3.96 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Sunday, January 1st. Shareholders of record on Thursday, December 15th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, December 13th. This represents a $0.92 dividend on an annualized basis and a yield of 1.39%. Comerica’s dividend payout ratio (DPR) is 34.33%.

A number of analysts have commented on the stock. Wedbush assumed coverage on shares of Comerica in a report on Thursday, October 6th. They issued a “neutral” rating and a $49.00 price objective for the company. FBR & Co raised their price target on shares of Comerica from $50.00 to $52.00 and gave the stock a “mkt perform” rating in a report on Wednesday, October 19th. Sandler O’Neill downgraded shares of Comerica from a “buy” rating to a “hold” rating in a report on Wednesday, November 30th. Bank of America Corp. upgraded shares of Comerica from an “underperform” rating to a “neutral” rating in a report on Thursday, December 15th. Finally, Stephens upgraded shares of Comerica from an “equal weight” rating to an “overweight” rating in a report on Monday, December 19th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and twelve have given a buy rating to the company. Comerica presently has an average rating of “Hold” and a consensus target price of $49.67.

In other Comerica news, EVP Megan D. Burkhart sold 4,373 shares of the stock in a transaction on Monday, November 21st. The shares were sold at an average price of $60.72, for a total transaction of $265,528.56. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael T. Ritchie sold 2,362 shares of the stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $50.90, for a total transaction of $120,225.80. The disclosure for this sale can be found here. Insiders have sold a total of 7,039 shares of company stock worth $404,455 over the last quarter. 1.60% of the stock is currently owned by insiders.

Comerica Company Profile

Comerica Incorporated (Comerica) is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. Comerica has its operations in three business segments: the Business Bank, the Retail Bank and Wealth Management. In addition to the three business segments, it also operates in the Finance segment.

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