Castle Creek Arbitrage Exits Position in Comerica Incorporated (CMA)

Comerica Incorporated (CMA) : Castle Creek Arbitrage has sold out all of its stake in Comerica Incorporated during the most recent quarter, according to the disclosure filed by the company on May 13, 2016 with the SEC. The investment management company has sold out 21,099 shares of Comerica Incorporated which is valued at $885,525.

Other Hedge Funds, Including , Hbk Investments L P sold out all of its stake in CMA during the most recent quarter. The investment firm sold 27,900 shares of CMA which is valued $1.2 Million.Tower Bridge Advisors boosted its stake in CMA in the latest quarter, The investment management firm added 6,165 additional shares and now holds a total of 12,515 shares of Comerica Incorporated which is valued at $525,255. Comerica Incorporated makes up approx 0.07% of Tower Bridge Advisors’s portfolio. Amica Mutual Insurance Co added CMA to its portfolio by purchasing 27,523 company shares during the most recent quarter which is valued at $1.2 Million. Comerica Incorporated makes up approx 0.11% of Amica Mutual Insurance Co’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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