8,504 Shares in Comerica Incorporated (NYSE:CMA) Purchased by DRW Securities LLC

DRW Securities LLC bought a new position in Comerica Incorporated (NYSE:CMA - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 8,504 shares of the financial services provider's stock, valued at approximately $526,000.

Several other large investors have also bought and sold shares of the company. State Street Corp lifted its position in Comerica by 2.0% in the 3rd quarter. State Street Corp now owns 4,977,670 shares of the financial services provider's stock valued at $301,745,000 after acquiring an additional 96,084 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Comerica by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider's stock valued at $274,092,000 after acquiring an additional 125,514 shares during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Comerica by 3.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider's stock worth $153,462,000 after acquiring an additional 72,391 shares during the period. Geode Capital Management LLC raised its holdings in shares of Comerica by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 2,214,963 shares of the financial services provider's stock valued at $137,039,000 after purchasing an additional 103,118 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC lifted its position in Comerica by 29.7% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,149,591 shares of the financial services provider's stock valued at $132,952,000 after purchasing an additional 492,381 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several brokerages recently commented on CMA. UBS Group raised Comerica from a "sell" rating to a "neutral" rating and set a $59.00 price objective for the company in a report on Thursday. Argus upgraded Comerica to a "hold" rating in a research note on Friday, January 31st. Royal Bank of Canada reduced their price target on shares of Comerica from $78.00 to $76.00 and set an "outperform" rating for the company in a research report on Thursday, January 23rd. Stephens downgraded shares of Comerica from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $66.00 to $64.00 in a report on Monday, March 31st. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Comerica from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $68.16.

Comerica Stock Performance

CMA traded down $0.47 during trading on Friday, hitting $50.83. 2,619,047 shares of the stock were exchanged, compared to its average volume of 2,205,572. 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 1-year low of $45.32 and a 1-year high of $73.45. The stock has a fifty day moving average price of $60.35 and a two-hundred day moving average price of $63.12. The firm has a market capitalization of $6.67 billion, a P/E ratio of 10.13 and a beta of 0.96.

Comerica (NYSE:CMA - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share 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 earnings per share. As a group, sell-side analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date of this dividend was Friday, March 14th. Comerica's dividend payout ratio is presently 56.57%.

Comerica Profile

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.