Algert Global LLC Raises Stock Holdings in Comerica Incorporated (NYSE:CMA)

Algert Global LLC raised its position in Comerica Incorporated (NYSE:CMA - Free Report) by 54.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 122,258 shares of the financial services provider's stock after acquiring an additional 42,952 shares during the quarter. Algert Global LLC owned approximately 0.09% of Comerica worth $7,562,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Alpha Family Trust purchased a new stake in shares of Comerica during the 4th quarter valued at about $208,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in Comerica during the fourth quarter valued at approximately $15,462,000. Schonfeld Strategic Advisors LLC grew its position in Comerica by 49.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 60,399 shares of the financial services provider's stock valued at $3,736,000 after buying an additional 19,946 shares during the period. AQR Capital Management LLC increased its holdings in Comerica by 102.7% during the fourth quarter. AQR Capital Management LLC now owns 464,879 shares of the financial services provider's stock valued at $28,753,000 after buying an additional 235,482 shares during the last quarter. Finally, Northern Trust Corp raised its position in Comerica by 26.9% in the fourth quarter. Northern Trust Corp now owns 1,900,261 shares of the financial services provider's stock worth $117,531,000 after acquiring an additional 402,992 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Wells Fargo & Company reduced their price objective on Comerica from $67.00 to $55.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Keefe, Bruyette & Woods reduced their price target on Comerica from $77.00 to $68.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. JPMorgan Chase & Co. cut Comerica from a "neutral" rating to an "underweight" rating and lowered their price objective for the company from $64.00 to $52.00 in a research report on Tuesday, April 22nd. UBS Group raised shares of Comerica from a "sell" rating to a "neutral" rating and set a $59.00 target price for the company in a report on Thursday, April 10th. Finally, Stephens cut shares of Comerica from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $66.00 to $64.00 in a research note on Monday, March 31st. Five analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $63.22.

Comerica Price Performance

Comerica stock traded down $0.06 during midday trading on Friday, reaching $55.98. 652,161 shares of the stock traded hands, compared to its average volume of 2,208,004. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45. The stock's fifty day moving average is $55.51 and its 200-day moving average is $62.19. The stock has a market cap of $7.36 billion, a P/E ratio of 11.15 and a beta of 0.92.

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

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, June 13th. This represents a $2.84 annualized dividend and a yield of 5.07%. Comerica's payout ratio is currently 53.69%.

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.