Wellington Management Group LLP Purchases New Position in Comerica Incorporated (NYSE:CMA)

Wellington Management Group LLP acquired a new position in shares of Comerica Incorporated (NYSE:CMA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 224,329 shares of the financial services provider's stock, valued at approximately $13,875,000. Wellington Management Group LLP owned approximately 0.17% of Comerica at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wedmont Private Capital lifted its holdings in Comerica by 2.4% in the 4th quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider's stock worth $474,000 after buying an additional 186 shares in the last quarter. Blue Trust Inc. boosted its holdings in Comerica by 5.2% in the fourth quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider's stock valued at $242,000 after purchasing an additional 200 shares during the last quarter. V Square Quantitative Management LLC increased its holdings 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 worth $51,000 after purchasing an additional 221 shares during the last quarter. US Bancorp DE boosted its stake in shares of Comerica by 2.0% during the 4th quarter. US Bancorp DE now owns 11,823 shares of the financial services provider's stock valued at $731,000 after buying an additional 227 shares during the last quarter. Finally, MCF Advisors LLC raised its holdings in 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 acquiring an additional 228 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

A number of equities analysts have commented on CMA shares. The Goldman Sachs Group downgraded shares of Comerica from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $85.00 to $71.00 in a report on Tuesday, January 7th. Robert W. Baird boosted their price objective on shares of Comerica from $75.00 to $80.00 and gave the company an "outperform" rating in a research report on Tuesday, February 11th. Barclays raised 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. JPMorgan Chase & Co. lowered their target price on Comerica from $73.00 to $70.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, Morgan Stanley downgraded Comerica from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $63.00 to $55.00 in a report on Monday, April 7th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $68.16.

Comerica Stock Performance

Shares of NYSE CMA traded up $0.97 during trading on Monday, reaching $52.01. 37,713 shares of the stock traded hands, compared to its average volume of 2,199,173. The stock has a market capitalization of $6.82 billion, a P/E ratio of 10.37 and a beta of 0.96. Comerica Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The company has a 50-day moving average of $60.35 and a 200-day moving average of $63.14.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 period in the prior year, the firm earned $1.46 EPS. Analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders 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 yield of 5.46%. Comerica's dividend payout ratio (DPR) is presently 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.