Marshall Wace LLP Buys New Shares in Comerica Incorporated (NYSE:CMA)

Marshall Wace LLP purchased a new position in shares of Comerica Incorporated (NYSE:CMA - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 150,210 shares of the financial services provider's stock, valued at approximately $9,290,000. Marshall Wace LLP owned approximately 0.11% of Comerica at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. JPMorgan Chase & Co. grew its stake in Comerica by 134.0% in the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider's stock valued at $51,309,000 after purchasing an additional 490,468 shares in the last quarter. Independent Advisor Alliance acquired a new position in Comerica during the fourth quarter worth $206,000. Jupiter Asset Management Ltd. acquired a new stake in Comerica in the fourth quarter valued at $82,419,000. Bank of Nova Scotia bought a new position in shares of Comerica in the 4th quarter valued at about $1,320,000. Finally, Franklin Resources Inc. raised its holdings in shares of Comerica by 251.1% in the 4th quarter. Franklin Resources Inc. now owns 51,573 shares of the financial services provider's stock valued at $3,190,000 after purchasing an additional 36,883 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Barclays boosted their price target on Comerica from $66.00 to $68.00 and gave the stock an "underweight" rating in a research report on Monday, January 6th. UBS Group raised shares of Comerica from a "sell" rating to a "neutral" rating and set a $59.00 price objective for the company in a research report on Thursday, April 10th. Wells Fargo & Company cut their target price on shares of Comerica from $70.00 to $67.00 and set an "equal weight" rating for the company in a research note on Friday, March 28th. DA Davidson lowered their price target on shares of Comerica from $71.00 to $67.00 and set a "neutral" rating on the stock in a report on Thursday, January 23rd. Finally, Stephens downgraded Comerica from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $66.00 to $64.00 in a research report on Monday, March 31st. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $68.16.

Comerica Price Performance

CMA stock opened at $50.70 on Tuesday. The company's 50-day moving average price is $58.55 and its two-hundred day moving average price is $62.87. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm has a market cap of $6.65 billion, a P/E ratio of 10.10 and a beta of 0.96.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.14 by $0.11. The business had revenue of $829.00 million during the quarter, compared to the consensus estimate of $839.31 million. 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 business earned $1.29 earnings per share. On average, analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.60%. The ex-dividend date was Friday, March 14th. Comerica's dividend payout ratio is presently 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.

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