Comerica Incorporated (NYSE:CMA) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 26.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,990 shares of the financial services provider's stock after buying an additional 7,665 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Comerica were worth $2,288,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Trust Co. of Vermont raised its stake in 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 purchasing an additional 321 shares during the last quarter. Luken Investment Analytics LLC acquired a new position in Comerica in the 4th quarter valued at $31,000. MCF Advisors LLC raised its stake in Comerica by 56.3% in the 4th 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 last quarter. Wilmington Savings Fund Society FSB acquired a new position in Comerica in the 3rd quarter valued at $42,000. Finally, V Square Quantitative Management LLC raised its stake in Comerica by 36.7% in 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 last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Trading Down 0.1 %

Comerica stock traded down $0.06 during midday trading on Thursday, reaching $59.04. 1,165,490 shares of the stock traded hands, compared to its average volume of 2,037,590. The company has a 50-day simple moving average of $63.56 and a two-hundred day simple moving average of $63.39. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45. The firm has a market cap of $7.75 billion, a PE ratio of 11.76 and a beta of 1.23. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.

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Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings results 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 last year, the business posted $1.46 earnings per share. Research analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend is Friday, March 14th. Comerica's dividend payout ratio is currently 56.57%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Compass Point increased their price objective on Comerica from $64.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Barclays raised their target price on Comerica from $66.00 to $68.00 and gave the stock an "underweight" rating in a research note on Monday, January 6th. DA Davidson cut their target price on Comerica from $71.00 to $67.00 and set a "neutral" rating for the company in a research note on Thursday, January 23rd. Argus raised Comerica to a "hold" rating in a research note on Friday, January 31st. Finally, Robert W. Baird raised their target price on Comerica from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $68.29.

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.