Hudson Executive Capital Lp buys $64,576,510 stake in Comerica Incorporated (CMA)

Comerica Incorporated (CMA) : Hudson Executive Capital Lp scooped up 91,000 additional shares in Comerica Incorporated during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 1,429,000 shares of Comerica Incorporated which is valued at $64,576,510.Comerica Incorporated makes up approximately 22.09% of Hudson Executive Capital Lp’s portfolio.

Other Hedge Funds, Including , Manufacturers Life Insurance Company The boosted its stake in CMA in the latest quarter, The investment management firm added 17,717 additional shares and now holds a total of 1,086,742 shares of Comerica Incorporated which is valued at $49,109,871. Comerica Incorporated makes up approx 0.07% of Manufacturers Life Insurance Company The’s portfolio.Korea Investment Corp boosted its stake in CMA in the latest quarter, The investment management firm added 81,800 additional shares and now holds a total of 87,800 shares of Comerica Incorporated which is valued at $3,967,682. Comerica Incorporated makes up approx 0.02% of Korea Investment Corp’s portfolio. Bessemer Group Inc sold out all of its stake in CMA during the most recent quarter. The investment firm sold 170 shares of CMA which is valued $7,682.

Comerica Incorporated closed down -0.26 points or -0.55% at $47.03 with 9,79,058 shares getting traded on Thursday. Post opening the session at $47.5, the shares hit an intraday low of $46.59 and an intraday high of $47.57 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Comerica Incorporated reported $0.58 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Jul 19, 2016. Analyst had a consensus of $0.69. The company had revenue of $714.00 million for the quarter, compared to analysts expectations of $715.64 million. The company’s revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.73 EPS.

Investors should note that on Jul 26, 2016, Comerica Incorporated announced a cash dividend of $0.2300. The company’s management has announced Sep 13, 2016 as the ex-dividend date and fixed the record date on Sep 15, 2016. The payable date has been fixed on Oct 1, 2016.

Many Wall Street Analysts have commented on Comerica Incorporated. Company shares were Reiterated by UBS on Jul 20, 2016 to “Neutral”, Firm has raised the Price Target to $ 45 from a previous price target of $41 .Company shares were Reiterated by FBR Capital on Jul 20, 2016 to “Outperform”, Firm has raised the Price Target to $ 50 from a previous price target of $48 .Company shares were Reiterated by Compass Point on Jul 20, 2016 to “Neutral”, Firm has raised the Price Target to $ 44 from a previous price target of $40 .

Comerica Incorporated is a financial services company. The Company’s principal activity is lending to and accepting deposits from businesses and individuals. It operates in three business segments: the Business Bank the Retail Bank and Wealth Management. In addition it also operates in the Finance segment. The Business Bank segment offers 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. The Retail Bank segment offers deposit accounts installment loans credit cards student loans home equity lines of credit and residential mortgage loans. The Wealth Management segment offers fiduciary services private banking retirement services investment management and advisory services investment banking and brokerage services. The Finance segment includes its securities portfolio and asset and liability management activities.

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