Zacks Investment Management Grows Stake in Comerica Incorporated (NYSE:CMA)

Zacks Investment Management lifted its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 43.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,590 shares of the financial services provider's stock after purchasing an additional 5,629 shares during the quarter. Zacks Investment Management's holdings in Comerica were worth $1,150,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Trust Co. of Vermont grew its holdings in Comerica by 300.0% during 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 in the last quarter. Luken Investment Analytics LLC purchased a new stake in shares of Comerica during the 4th quarter valued at $31,000. MCF Advisors LLC raised its stake in shares of Comerica by 56.3% during the 4th 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 position in Comerica during the third quarter valued at about $42,000. Finally, V Square Quantitative Management LLC increased its holdings in Comerica by 36.7% during the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock worth $51,000 after buying an additional 221 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Royal Bank of Canada lowered their price objective on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating on the stock in a research report on Tuesday. Barclays boosted their price target on shares of Comerica from $66.00 to $68.00 and gave the company an "underweight" rating in a research report on Monday, January 6th. Stephens downgraded Comerica from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $66.00 to $64.00 in a research report on Monday, March 31st. UBS Group upgraded Comerica from a "sell" rating to a "neutral" rating and set a $59.00 price target for the company in a research report on Thursday, April 10th. Finally, Evercore ISI cut Comerica from an "in-line" rating to an "underperform" rating and dropped their price objective for the stock from $65.00 to $50.00 in a report on Tuesday. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $62.84.

Comerica Stock Up 2.0 %

Shares of Comerica stock traded up $1.06 during midday trading on Thursday, hitting $53.37. The company had a trading volume of 516,423 shares, compared to its average volume of 2,201,484. 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 quick ratio of 0.97 and a current ratio of 0.97. The stock has a market capitalization of $7.00 billion, a P/E ratio of 10.63 and a beta of 0.96. The company has a 50 day moving average of $57.95 and a 200 day moving average of $62.72.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, beating analysts' consensus estimates of $1.14 by $0.11. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The company had revenue of $829.00 million during the quarter, compared to analyst estimates of $839.31 million. During the same quarter last year, the company earned $1.29 EPS. On average, equities analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The firm 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. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.32%. The ex-dividend date of this dividend was Friday, March 14th. Comerica's payout ratio is 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.