Comerica Incorporated (NYSE:CMA) Shares Bought by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board boosted its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 548.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 642,400 shares of the financial services provider's stock after acquiring an additional 543,400 shares during the period. Canada Pension Plan Investment Board owned 0.49% of Comerica worth $39,732,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CMA. Trust Co. of Vermont lifted its holdings in shares of Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock worth $26,000 after purchasing an additional 321 shares during the period. Luken Investment Analytics LLC purchased a new position in Comerica during the fourth quarter worth about $31,000. MCF Advisors LLC raised its holdings in Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock worth $39,000 after purchasing an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Comerica in the third quarter valued at about $42,000. Finally, V Square Quantitative Management LLC increased its position in Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock worth $51,000 after purchasing an additional 221 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Stock Up 1.7 %

Shares of CMA traded up $0.89 during trading on Wednesday, reaching $52.33. The company's stock had a trading volume of 1,996,198 shares, compared to its average volume of 2,216,879. The company has a market cap of $6.87 billion, a price-to-earnings ratio of 10.42 and a beta of 0.96. The company has a fifty day moving average of $58.25 and a two-hundred day moving average of $62.79. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica Incorporated has a twelve month low of $45.32 and a twelve month high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last released its earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.11. Comerica had a net margin of 13.98% and a return on equity of 12.04%. The firm had revenue of $829.00 million during the quarter, compared to analyst estimates of $839.31 million. During the same quarter in the previous year, the firm earned $1.29 earnings per share. On average, sell-side analysts predict that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 5.43%. The ex-dividend date of this dividend was Friday, March 14th. Comerica's dividend payout ratio is currently 56.57%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Royal Bank of Canada decreased their target price on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating on the stock in a research report on Tuesday. Barclays boosted their price target on Comerica from $66.00 to $68.00 and gave the stock an "underweight" rating in a research note on Monday, January 6th. The Goldman Sachs Group dropped their target price on shares of Comerica from $66.00 to $57.00 and set a "neutral" rating for the company in a report on Tuesday. DA Davidson dropped their price objective on shares of Comerica from $71.00 to $67.00 and set a "neutral" rating for the company in a research note on Thursday, January 23rd. Finally, Wells Fargo & Company reduced their target price on Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Tuesday. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $62.84.

About Comerica

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.