Comerica Bank Has $626,000 Stock Position in The St. Joe Company (NYSE:JOE)

Comerica Bank reduced its position in shares of The St. Joe Company (NYSE:JOE) by 2.4% in the 4th quarter, Holdings Channel reports. The firm owned 13,942 shares of the financial services provider’s stock after selling 338 shares during the period. Comerica Bank’s holdings in St. Joe were worth $626,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Arete Wealth Advisors LLC raised its position in St. Joe by 5.1% during the fourth quarter. Arete Wealth Advisors LLC now owns 5,047 shares of the financial services provider’s stock valued at $226,000 after purchasing an additional 243 shares in the last quarter. Carmel Capital Partners LLC raised its position in St. Joe by 4.6% during the fourth quarter. Carmel Capital Partners LLC now owns 8,516 shares of the financial services provider’s stock valued at $383,000 after purchasing an additional 375 shares in the last quarter. Smartleaf Asset Management LLC raised its position in St. Joe by 277.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 585 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 430 shares in the last quarter. Legacy Capital Group California Inc. raised its position in St. Joe by 12.4% during the fourth quarter. Legacy Capital Group California Inc. now owns 4,899 shares of the financial services provider’s stock valued at $220,000 after purchasing an additional 540 shares in the last quarter. Finally, KBC Group NV raised its position in St. Joe by 38.8% during the fourth quarter. KBC Group NV now owns 2,059 shares of the financial services provider’s stock valued at $93,000 after purchasing an additional 576 shares in the last quarter. 86.67% of the stock is currently owned by institutional investors and hedge funds.

St. Joe Stock Down 1.8%

Shares of JOE opened at $45.27 on Thursday. The firm has a 50 day simple moving average of $44.23 and a two-hundred day simple moving average of $46.74. The company has a market cap of $2.64 billion, a P/E ratio of 38.36 and a beta of 1.37. The St. Joe Company has a one year low of $40.19 and a one year high of $64.69. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.34 and a quick ratio of 1.34.

St. Joe (NYSE:JOE) last announced its quarterly earnings results on Wednesday, April 23rd. The financial services provider reported $0.30 earnings per share (EPS) for the quarter. The company had revenue of $94.20 million during the quarter. St. Joe had a net margin of 17.76% and a return on equity of 9.58%.

St. Joe Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 26th. Stockholders of record on Tuesday, June 10th will be issued a dividend of $0.14 per share. The ex-dividend date is Tuesday, June 10th. This represents a $0.56 annualized dividend and a dividend yield of 1.24%. St. Joe’s dividend payout ratio (DPR) is presently 42.11%.

Insider Transactions at St. Joe

In other news, major shareholder Bruce R. Berkowitz sold 41,100 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $47.06, for a total transaction of $1,934,166.00. Following the completion of the transaction, the insider now directly owns 17,310,124 shares in the company, valued at approximately $814,614,435.44. This represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 300,000 shares of company stock worth $14,113,022. Corporate insiders own 0.32% of the company’s stock.

St. Joe Profile

The St. Joe Company, together with its subsidiaries, operates as a real estate development, asset management, and operating company in Northwest Florida. It operates through three segments: Residential, Hospitality, and Commercial. The Residential segment engages in the development of communities into homesites for sale to homebuilders and on a limited basis to retail customers.