Comerica Incorporated (NYSE:CMA) Stake Boosted by First Trust Advisors LP

First Trust Advisors LP raised its position in Comerica Incorporated (NYSE:CMA - Free Report) by 19.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,813,377 shares of the financial services provider's stock after purchasing an additional 298,974 shares during the period. First Trust Advisors LP owned 1.38% of Comerica worth $112,157,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of CMA. Sanctuary Advisors LLC lifted its position in shares of Comerica by 17.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 10,095 shares of the financial services provider's stock worth $605,000 after buying an additional 1,467 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Comerica in the third quarter valued at $42,000. Tidal Investments LLC boosted its stake in Comerica by 96.2% in the third quarter. Tidal Investments LLC now owns 32,138 shares of the financial services provider's stock valued at $1,925,000 after acquiring an additional 15,758 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Comerica by 9.3% during the third quarter. Franklin Resources Inc. now owns 14,690 shares of the financial services provider's stock worth $901,000 after purchasing an additional 1,255 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of 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 in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on CMA shares. Barclays raised 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. DA Davidson dropped their price objective on shares of Comerica from $71.00 to $67.00 and set a "neutral" rating on the stock in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods decreased their target price on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating for the company in a research note on Tuesday. Morgan Stanley cut Comerica from an "equal weight" rating to an "underweight" rating and dropped their price target for the company from $63.00 to $55.00 in a research report on Monday, April 7th. Finally, Raymond James decreased 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. Five analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, Comerica currently has an average rating of "Hold" and a consensus target price of $62.84.

Comerica Stock Down 0.5 %

Shares of NYSE CMA traded down $0.25 on Friday, hitting $53.12. The company had a trading volume of 725,340 shares, compared to its average volume of 2,209,829. The business has a 50 day moving average of $57.68 and a two-hundred day moving average of $62.68. The firm has a market capitalization of $6.97 billion, a P/E ratio of 10.58 and a beta of 0.96. 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 12-month low of $45.32 and a 12-month high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last announced its earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.11. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The business had revenue of $829.00 million for the quarter, compared to analyst estimates of $839.31 million. During the same period in the previous year, the company earned $1.29 earnings per share. As a group, equities research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 5.35%. The ex-dividend date of this dividend was Friday, March 14th. Comerica's dividend payout ratio is currently 56.57%.

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.