Integrated Investment Consultants Lowers stake in Comerica Incorporated (CMA)

Comerica Incorporated (CMA) : Integrated Investment Consultants reduced its stake in Comerica Incorporated by 14.07% during the most recent quarter end. The investment management company now holds a total of 3,053 shares of Comerica Incorporated which is valued at $147,765 after selling 500 shares in Comerica Incorporated , the firm said in a disclosure report filed with the SEC on Oct 14, 2016.Comerica Incorporated makes up approximately 0.08% of Integrated Investment Consultants’s portfolio.

Other Hedge Funds, Including , Fjarde Ap-fonden Fourth Swedish National Pension Fund boosted its stake in CMA in the latest quarter, The investment management firm added 2,816 additional shares and now holds a total of 44,459 shares of Comerica Incorporated which is valued at $2,151,816. Comerica Incorporated makes up approx 0.05% of Fjarde Ap-fonden Fourth Swedish National Pension Fund’s portfolio. Centurylink Investment Management Co sold out all of its stake in CMA during the most recent quarter. The investment firm sold 16,979 shares of CMA which is valued $825,859.Telemus Capital reduced its stake in CMA by selling 50 shares or 0.28% in the most recent quarter. The Hedge Fund company now holds 17,879 shares of CMA which is valued at $879,826. Comerica Incorporated makes up approx 0.10% of Telemus Capital’s portfolio. West Oak Capital added CMA to its portfolio by purchasing 246 company shares during the most recent quarter which is valued at $12,106. Comerica Incorporated makes up approx 0.01% of West Oak Capital’s portfolio.

Comerica Incorporated opened for trading at $48.77 and hit $48.99 on the upside on Friday, eventually ending the session at $48.4, with a gain of 1.02% or 0.49 points. The heightened volatility saw the trading volume jump to 16,33,374 shares. Company has a market cap of $8,417 M.

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.

Many Wall Street Analysts have commented on Comerica Incorporated. Comerica Incorporated was Downgraded by FBR & Co. to ” Mkt Perform” on Oct 11, 2016. Wedbush Initiated Comerica Incorporated on Oct 7, 2016 to “Neutral”, Price Target of the shares are set at $49.Comerica Incorporated was Upgraded by Goldman to ” Buy” on Sep 16, 2016.

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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