According to the most recent filing that the company made with the Securities and Exchange Commission, the Treasurer of the State of North Carolina decreased its interest in Comerica Incorporated (NYSE: CMA) by 8.7% in the third quarter.
This information was included in the filing.
This information is included in the company’s filing, which can be accessed. Following the transaction that took place during that period, the institutional investor was left with 59,256 shares of stock in the financial services provider after having sold 5,660 of those shares.
The value of the Comerica holdings owned by the Treasurer of the State of North Carolina at the end of the most recent reporting period was $4,213,000.
These holdings were valued at the end of the period.
In addition, notable investors have recently been active in the market, buying and selling company shares in various transactions.
During the second quarter, The Ronald Blue Trust INC invested in Comerica with a total value of approximately $27,000. Financial Gravity Asset Management INC purchased approximately 271,000 shares of Comerica stock during the third quarter, which increased the company’s holdings in the company by approximately that amount. Oakworth Capital INC invested approximately $34,000 during the second quarter to purchase a larger portion of Comerica’s stock.
During the second quarter, Evoke Wealth LLC achieved a 38.0% increase in the amount of Comerica stock it owned.
Evoke Wealth LLC, a provider of financial services now owns 494 shares after purchasing an additional 136 in the most recent quarter.
The stock is currently valued at $36,000, and the company owns 494 shares.
In addition, Chilton Capital Management LLC spent roughly $47,000 to acquire a new position in Comerica during the second quarter of the year.
This acquisition was completed.
At the moment, institutions hold ownership of 81.91% of the company’s common stock.
When trading started on Tuesday, the price of a share of Comerica stock was $75.30. For the past fifty trading days, the stock price has had a simple moving average of $68.27; for the past two hundred trading days, that figure is $73.21.
During a year’s worth of trading, the share price of Comerica Incorporated has fluctuated between a low of $62.83 and a high of $102.09 at various points.
The stock currently trades at a price-to-earnings ratio of 8.89, a price-to-growth ratio of 2.40, and a beta value of 1.18.
The market capitalization of the company is $9.86 billion.
In addition, the price-to-earnings ratio for the company is 8.89, and the price-to-earnings-growth ratio is 2.40.
A few values can be used in this calculation, including a debt-to-equity ratio of 0.63, a current ratio of 0.85, and a quick ratio of 0.85.
The most recent quarterly earnings report for Comerica, traded on the New York Stock Exchange under the ticker symbol “CMA,” was released on January 19.
Earnings per share (EPS) for the quarter were reported at $2.58, which is $0.02 higher than the consensus expectation of $2.56 provided by analysts in the financial services industry for the quarter’s EPS. Comerica had a return on equity of 20.75 percent, and the company’s net margin was 30.72 percent of the company’s revenue.
The company’s quarterly sales came in at $1.02 billion, which is significantly higher than the predictions, which averaged out to be $1.01 billion.
During the same period the previous year, the corporation posted a profit of 1.66 dollars per share it had outstanding.
According to the projections made by research analysts for the upcoming year, Comerica Incorporated is expected to generate earnings of 9.6 cents per share.
A number of research and analytical papers have been written on the subject of CMA. Compass Point announced, in a research report made public on October 20, that they had decreased their price objective on Comerica to $89 in light of recent market events. Goldman Sachs Group rated the company’s stock as “neutral” in a research report released on Monday, January 23, and raised their price objective on Comerica from $75.00 to $85.00.
The report was published on the same day.
The report’s subject matter was the financial performance of the company.
In a research note published on Thursday, October 20, Royal Bank of Canada lowered its “outperform” rating on Comerica and lowered its price objective from $95.00 to $90.00.
Both of these changes were made about Comerica’s stock. JPMorgan Chase & Co upgraded their price objective on Comerica stock from $72.00 to $75.00 and designated the stock as “overweight” in a research report released on January 23 by the financial services firm.
DA Davidson upgraded Comerica to a “buy” rating and increased their price objective from $80.00 to $82.00 in a financial services company report published on Friday, January 20.
The company’s stock was the subject of both of these amendments to the agreement. One of the analysts following the company recommended the stock to sell, while another five have maintained a hold rating, and sixteen have maintained a buy rating.
According to information made available by Bloomberg, the stock has been given an average “Moderate buy” recommendation, and investors have established a consensus price objective of $83.02.
On Friday, January 27, Cassandra M.
Mckinney, who serves as Executive Vice President and Chief Financial Officer for Comerica, parted ways with 3,262 shares.
The sale of the shares resulted in total revenue of $237,343.12, with the average price at which each share could be purchased being $72.76. Following the completion of the sale, the executive vice president will own a total of 6,825 shares of the company’s stock.
Each share has a value of $496.587 at present. One can access a document that provides additional information regarding the transaction by going to the Securities and Exchange Commission (SEC) website.
A total of 0.76% of the company’s shares that company insiders hold.
Comerica, INC is a company that operates in the financial industry and offers various services.
It conducts its business activities within several distinct business divisions, including commercial banks, retail banks, wealth management, finance, and others. Commercial banks are trusted providers of goods and services by customers, including small and middle-market businesses, multinational corporations, and governmental organizations.
The following items and services are included in this category:
Commercial loans and lines of credit
Deposits
Cash management
Capital market products
International trade finance
Letters of credit
Foreign exchange management services
Loan syndication services
Commercial banks provide these products and services to cater to the requirements of their clientele.
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