National Bank of Canada FI Buys 20,481 Shares of Comerica Incorporated (NYSE:CMA)

National Bank of Canada FI raised its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 658.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 23,593 shares of the financial services provider's stock after purchasing an additional 20,481 shares during the period. National Bank of Canada FI's holdings in Comerica were worth $1,459,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC increased its stake in shares of Comerica by 11.5% in the third quarter. FMR LLC now owns 35,009 shares of the financial services provider's stock worth $2,097,000 after purchasing an additional 3,599 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Comerica by 19.1% in the 3rd quarter. Captrust Financial Advisors now owns 14,085 shares of the financial services provider's stock worth $844,000 after buying an additional 2,263 shares during the period. Benjamin Edwards Inc. purchased a new stake in Comerica in the 3rd quarter worth $348,000. HighTower Advisors LLC raised its holdings in Comerica by 6.8% during the third quarter. HighTower Advisors LLC now owns 40,915 shares of the financial services provider's stock valued at $2,450,000 after acquiring an additional 2,590 shares during the period. Finally, Quantinno Capital Management LP lifted its position in shares of Comerica by 8.2% in the third quarter. Quantinno Capital Management LP now owns 34,507 shares of the financial services provider's stock valued at $2,067,000 after acquiring an additional 2,615 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

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Analysts Set New Price Targets

CMA has been the subject of several research analyst reports. The Goldman Sachs Group cut Comerica from a "buy" rating to a "neutral" rating and cut their target price for the stock from $85.00 to $71.00 in a research report on Tuesday, January 7th. Argus raised shares of Comerica to a "hold" rating in a report on Friday, January 31st. Barclays boosted their target price on shares of Comerica from $66.00 to $68.00 and gave the stock an "underweight" rating in a report on Monday, January 6th. Royal Bank of Canada cut their target price on shares of Comerica from $78.00 to $76.00 and set an "outperform" rating for the company in a research note on Thursday, January 23rd. Finally, UBS Group upgraded shares of Comerica from a "sell" rating to a "neutral" rating and set a $59.00 price target on the stock in a research note on Thursday. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $68.16.

Comerica Trading Down 0.9 %

CMA stock traded down $0.47 during mid-day trading on Friday, reaching $50.83. 2,619,047 shares of the stock traded hands, compared to its average volume of 2,205,572. The business has a 50-day moving average price of $60.35 and a two-hundred day moving average price of $63.12. The stock has a market capitalization of $6.67 billion, a PE ratio of 10.13 and a beta of 0.96. 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 Incorporated has a one year low of $45.32 and a one year high of $73.45.

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 prior year, the company earned $1.46 EPS. Equities research analysts expect that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

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

Comerica Company 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.