Sterling Capital Management LLC Buys 8,103 Shares of Comerica Incorporated (NYSE:CMA)

Sterling Capital Management LLC increased its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 160.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,157 shares of the financial services provider's stock after purchasing an additional 8,103 shares during the quarter. Sterling Capital Management LLC's holdings in Comerica were worth $814,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Trust Co. of Vermont increased its stake in shares of Comerica by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock valued at $26,000 after buying an additional 321 shares during the period. Luken Investment Analytics LLC bought a new position in Comerica in the fourth quarter valued at about $31,000. MCF Advisors LLC increased its position in Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock worth $39,000 after purchasing an additional 228 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Comerica during the 3rd quarter worth about $42,000. Finally, V Square Quantitative Management LLC lifted its position in Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 221 shares during the period. Institutional investors and hedge funds own 80.74% of the company's stock.

Comerica Stock Up 1.8 %

Shares of Comerica stock traded up $0.91 during trading on Tuesday, reaching $51.51. The stock had a trading volume of 3,415,301 shares, compared to its average volume of 2,216,334. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $6.76 billion, a price-to-earnings ratio of 10.26 and a beta of 0.96. The stock has a fifty day moving average price of $58.25 and a two-hundred day moving average price of $62.79. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last released its earnings results 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 firm had revenue of $829.00 million for the quarter, compared to analysts' expectations of $839.31 million. Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter in the previous year, the business posted $1.29 EPS. Sell-side analysts predict that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors 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 5.51%. The ex-dividend date of this dividend was Friday, March 14th. Comerica's dividend payout ratio (DPR) is currently 56.57%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on CMA shares. Argus raised shares of Comerica to a "hold" rating in a research note on Friday, January 31st. Stephens cut shares of Comerica from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $66.00 to $64.00 in a research report on Monday, March 31st. Morgan Stanley downgraded Comerica from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $63.00 to $55.00 in a research note on Monday, April 7th. Robert W. Baird decreased their price objective on Comerica from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday. Finally, Barclays increased their target price on Comerica from $66.00 to $68.00 and gave the company an "underweight" rating in a research note on Monday, January 6th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $62.84.

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.