Renaissance Technologies LLC Boosts Position in Comerica Incorporated (NYSE:CMA)

Renaissance Technologies LLC lifted its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 168.8% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 252,647 shares of the financial services provider's stock after purchasing an additional 158,647 shares during the quarter. Renaissance Technologies LLC owned about 0.19% of Comerica worth $15,626,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of CMA. Trust Co. of Vermont raised its holdings in shares of Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock worth $26,000 after buying an additional 321 shares during the last quarter. Luken Investment Analytics LLC acquired a new stake in Comerica during the 4th quarter worth about $31,000. MCF Advisors LLC increased its holdings in shares of Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 228 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Comerica during the third quarter worth about $42,000. Finally, V Square Quantitative Management LLC boosted its position in Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock valued at $51,000 after buying an additional 221 shares during 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 equities analysts have issued reports on CMA shares. Stephens lowered shares of Comerica from an "overweight" rating to an "equal weight" rating and reduced their price target for the stock from $66.00 to $64.00 in a research report on Monday, March 31st. Royal Bank of Canada reduced their target price on shares of Comerica from $78.00 to $76.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. The Goldman Sachs Group lowered shares of Comerica from a "buy" rating to a "neutral" rating and lowered their price target for the company from $85.00 to $71.00 in a report on Tuesday, January 7th. JPMorgan Chase & Co. reduced their price objective on Comerica from $73.00 to $70.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Finally, UBS Group raised Comerica from a "sell" rating to a "neutral" rating and set a $59.00 target price on the stock in a report on Thursday, April 10th. Three research 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. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $68.16.

Comerica Price Performance

NYSE:CMA traded up $0.35 during trading hours on Friday, hitting $52.89. 3,293,448 shares of the stock were exchanged, compared to its average volume of 2,206,163. The company has a market cap of $6.94 billion, a P/E ratio of 10.54 and a beta of 0.96. The firm's fifty day moving average price is $58.88 and its 200 day moving average price is $62.93. Comerica Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.

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 return on equity of 12.04% and a net margin of 13.98%. During the same period in the previous year, the firm earned $1.46 EPS. As a group, equities research analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.37%. The ex-dividend date was Friday, March 14th. Comerica's dividend payout ratio (DPR) is 56.57%.

Comerica 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.