F M Investments LLC increased its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 30.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 26,471 shares of the financial services provider's stock after acquiring an additional 6,182 shares during the quarter. F M Investments LLC's holdings in Comerica were worth $1,637,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CMA. Bessemer Group Inc. grew its position in shares of Comerica by 2.0% in the 4th quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider's stock worth $672,000 after buying an additional 211 shares during the last quarter. DRW Securities LLC acquired a new position in Comerica during the 4th quarter valued at about $526,000. Raymond James Financial Inc. purchased a new stake in Comerica in the fourth quarter valued at about $7,787,000. Advisory Services Network LLC boosted its holdings in Comerica by 22.9% in the fourth quarter. Advisory Services Network LLC now owns 5,343 shares of the financial services provider's stock worth $330,000 after acquiring an additional 995 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Comerica by 168.8% during the fourth quarter. Renaissance Technologies LLC now owns 252,647 shares of the financial services provider's stock worth $15,626,000 after acquiring an additional 158,647 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.
Comerica Price Performance
Shares of CMA stock traded down $0.40 during trading hours on Wednesday, reaching $52.59. The company had a trading volume of 1,939,157 shares, compared to its average volume of 2,204,501. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of 10.48 and a beta of 0.96. The stock has a fifty day moving average of $59.73 and a 200-day moving average of $63.02. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97.
Comerica (NYSE:CMA - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same period last year, the firm posted $1.46 EPS. On average, equities analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current year.
Comerica Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 5.40%. The ex-dividend date of this dividend was Friday, March 14th. Comerica's dividend payout ratio (DPR) is 56.57%.
Wall Street Analyst Weigh In
A number of analysts recently commented on CMA shares. Barclays lifted their target price on shares of Comerica from $66.00 to $68.00 and gave the stock an "underweight" rating in a research note on Monday, January 6th. Morgan Stanley lowered shares of Comerica from an "equal weight" rating to an "underweight" rating and dropped their price objective for the company from $63.00 to $55.00 in a report on Monday, April 7th. Royal Bank of Canada lowered their price target on Comerica from $78.00 to $76.00 and set an "outperform" rating for the company in a research report on Thursday, January 23rd. Argus upgraded Comerica to a "hold" rating in a research note on Friday, January 31st. Finally, Raymond James decreased their target price on Comerica from $72.00 to $67.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $68.16.
View Our Latest Analysis 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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