FIL Ltd Buys 142,922 Shares of Comerica Incorporated (NYSE:CMA)

FIL Ltd increased its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 140.6% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 244,558 shares of the financial services provider's stock after buying an additional 142,922 shares during the quarter. FIL Ltd owned about 0.19% of Comerica worth $15,126,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CMA. JPMorgan Chase & Co. boosted its stake in shares of Comerica by 134.0% in the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider's stock worth $51,309,000 after acquiring an additional 490,468 shares during the period. Independent Advisor Alliance bought a new position in Comerica during the fourth quarter valued at $206,000. Jupiter Asset Management Ltd. purchased a new stake in Comerica in the 4th quarter worth about $82,419,000. Jones Financial Companies Lllp raised its holdings in shares of Comerica by 220.9% in the fourth quarter. Jones Financial Companies Lllp now owns 10,762 shares of the financial services provider's stock worth $666,000 after buying an additional 7,408 shares during the period. Finally, New England Research & Management Inc. purchased a new stake in shares of Comerica during the fourth quarter valued at $784,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Comerica Price Performance

Shares of CMA traded down $0.40 during midday trading on Wednesday, reaching $52.59. The stock had a trading volume of 1,836,164 shares, compared to its average volume of 2,204,501. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $6.90 billion, a P/E ratio of 10.48 and a beta of 0.96. The firm's 50 day moving average price is $59.73 and its 200-day moving average price is $63.02.

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Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings results 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 quarter in the previous year, the company posted $1.46 earnings per share. On average, analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 5.40%. Comerica's payout ratio is currently 56.57%.

Analyst Upgrades and Downgrades

CMA has been the topic of several research reports. Wells Fargo & Company cut their price objective on shares of Comerica from $70.00 to $67.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. The Goldman Sachs Group downgraded Comerica from a "buy" rating to a "neutral" rating and cut their target price for the company from $85.00 to $71.00 in a research report on Tuesday, January 7th. Morgan Stanley lowered shares of Comerica from an "equal weight" rating to an "underweight" rating and cut their price objective for the stock from $63.00 to $55.00 in a research note on Monday, April 7th. Argus upgraded Comerica to a "hold" rating in a research report on Friday, January 31st. Finally, Raymond James cut their price objective on Comerica from $72.00 to $67.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $68.16.

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.