Maltese Capital Management buys $17 Million stake in Comerica Incorporated (CMA)

Comerica Incorporated (CMA) : Maltese Capital Management scooped up 300,000 additional shares in Comerica Incorporated during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 405,000 shares of Comerica Incorporated which is valued at $17 Million.Comerica Incorporated makes up approximately 2.22% of Maltese Capital Management’s portfolio.

Other Hedge Funds, Including , I.g. Investment Management Ltd. reduced its stake in CMA by selling 12,297 shares or 49.79% in the most recent quarter. The Hedge Fund company now holds 12,400 shares of CMA which is valued at $520,428.Ubs Asset Management Americas Inc reduced its stake in CMA by selling 654 shares or 0.11% in the most recent quarter. The Hedge Fund company now holds 621,868 shares of CMA which is valued at $26.1 Million. Comerica Incorporated makes up approx 0.03% of Ubs Asset Management Americas Inc’s portfolio. Gideon Capital Advisors added CMA to its portfolio by purchasing 9,935 company shares during the most recent quarter which is valued at $416,972. Comerica Incorporated makes up approx 0.52% of Gideon Capital Advisors’s portfolio.Cibc Asset Management Inc boosted its stake in CMA in the latest quarter, The investment management firm added 695 additional shares and now holds a total of 20,913 shares of Comerica Incorporated which is valued at $877,719. Comerica Incorporated makes up approx 0.01% of Cibc Asset Management Inc’s portfolio.Aperio Group boosted its stake in CMA in the latest quarter, The investment management firm added 41,249 additional shares and now holds a total of 151,816 shares of Comerica Incorporated which is valued at $6.7 Million. Comerica Incorporated makes up approx 0.06% of Aperio Group’s portfolio.

Comerica Incorporated opened for trading at $46.27 and hit $47.25 on the upside on Wednesday, eventually ending the session at $46.8, with a gain of 1.92% or 0.88 points. The heightened volatility saw the trading volume jump to 24,48,905 shares. Company has a market cap of $8,196 M.

On the company’s financial health, Comerica Incorporated reported $0.34 EPS for the quarter, missing the analyst consensus estimate by $ -0.11 based on the information available during the earnings call on Apr 19, 2016. Analyst had a consensus of $0.45.Analysts expectations of $ 706.59.During the same quarter in the previous year, the company posted $0.73 EPS.

Investors should note that on Apr 26, 2016, Comerica Incorporated announced a cash dividend of $0.2200. The company’s management has announced Jun 13, 2016 as the ex-dividend date and fixed the record date on Jun 15, 2016. The payable date has been fixed on Jul 1, 2016.

Many Wall Street Analysts have commented on Comerica Incorporated. Comerica Incorporated was Upgraded by Goldman to ” Neutral” on May 19, 2016. Comerica Incorporated was Downgraded by Wells Fargo to ” Underperform” on May 13, 2016. Comerica Incorporated was Upgraded by Raymond James to ” Outperform” on May 9, 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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