Proficio Capital Partners LLC bought a new position in shares of Comerica Incorporated (NYSE:CMA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 111,572 shares of the financial services provider's stock, valued at approximately $6,901,000. Proficio Capital Partners LLC owned 0.08% of Comerica as of its most recent SEC filing.
Other institutional investors also recently bought and sold shares of the company. PL Capital Advisors LLC raised its position in Comerica by 6,085.0% during the fourth quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider's stock worth $109,981,000 after acquiring an additional 1,749,438 shares during the period. Citigroup Inc. grew its holdings in shares of Comerica by 390.6% in the third quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider's stock valued at $45,628,000 after purchasing an additional 606,375 shares during the period. Vaughan Nelson Investment Management L.P. increased its position in Comerica by 31.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,408,820 shares of the financial services provider's stock worth $144,312,000 after purchasing an additional 574,516 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Comerica by 134.0% during the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider's stock worth $51,309,000 after purchasing an additional 490,468 shares during the period. Finally, Primecap Management Co. CA acquired a new position in Comerica in the 3rd quarter valued at about $26,630,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.
Comerica Stock Performance
Shares of Comerica stock traded down $0.13 during trading on Friday, reaching $58.34. The company's stock had a trading volume of 3,152,098 shares, compared to its average volume of 2,121,427. The company has a 50-day moving average price of $64.34 and a two-hundred day moving average price of $63.25. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The firm has a market cap of $7.66 billion, a PE ratio of 11.62 and a beta of 1.25. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.
Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same period in the previous year, the company earned $1.46 EPS. On average, analysts forecast that Comerica Incorporated will post 5.28 EPS for the current year.
Comerica Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.84 annualized dividend and a dividend yield of 4.87%. Comerica's payout ratio is currently 56.57%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the stock. Argus upgraded shares of Comerica to a "hold" rating in a report on Friday, January 31st. Morgan Stanley reduced their target price on Comerica from $76.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 23rd. UBS Group assumed coverage on Comerica in a research report on Tuesday, December 17th. They set a "sell" rating and a $64.00 price objective for the company. Compass Point lifted their price target on shares of Comerica from $64.00 to $80.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Finally, Robert W. Baird upped their price objective on shares of Comerica from $75.00 to $80.00 and gave the stock an "outperform" rating in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $68.67.
Check Out Our Latest Stock Report on CMA
About Comerica
(
Free Report)
Comerica Incorporated, through its subsidiaries, provides various financial products and services. The company operates through Commercial Bank, Retail Bank, Wealth Management, and Finance segments. The Commercial Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services for small and middle market businesses, multinational corporations, and governmental entities.
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