Black Maple Capital Management LP Purchases Shares of 51,654 Comerica Incorporated (NYSE:CMA)

Black Maple Capital Management LP purchased a new stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 51,654 shares of the financial services provider's stock, valued at approximately $3,195,000. Comerica accounts for about 1.7% of Black Maple Capital Management LP's investment portfolio, making the stock its 7th biggest position.

A number of other hedge funds and other institutional investors also recently modified their holdings of CMA. Trust Co. of Vermont raised its position in Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock worth $26,000 after acquiring an additional 321 shares in the last quarter. Luken Investment Analytics LLC bought a new stake in shares of Comerica in the 4th quarter worth approximately $31,000. MCF Advisors LLC lifted its stake in Comerica by 56.3% during the fourth 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 bought a new stake in Comerica during the third quarter worth approximately $42,000. Finally, V Square Quantitative Management LLC grew its position in Comerica by 36.7% in 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. Institutional investors own 80.74% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CMA. Royal Bank of Canada decreased their target price on Comerica from $75.00 to $65.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Barclays boosted their price objective on Comerica from $66.00 to $68.00 and gave the stock an "underweight" rating in a report on Monday, January 6th. Argus upgraded shares of Comerica to a "hold" rating in a report on Friday, January 31st. Keefe, Bruyette & Woods dropped their target price on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Evercore ISI downgraded shares of Comerica from an "in-line" rating to an "underperform" rating and reduced their price target for the company from $65.00 to $50.00 in a research report on Tuesday, April 22nd. Five equities 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.com, Comerica has a consensus rating of "Hold" and an average price target of $62.84.

Comerica Price Performance

NYSE CMA opened at $56.44 on Friday. The company has a 50 day moving average price of $56.24 and a two-hundred day moving average price of $62.44. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45. The stock has a market capitalization of $7.41 billion, a PE ratio of 11.24 and a beta of 0.96. 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 (NYSE:CMA - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $829.00 million during the quarter, compared to analysts' expectations of $839.31 million. During the same period in the prior year, the company posted $1.29 earnings per share. As a group, equities analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date is Friday, June 13th. Comerica's payout ratio is 53.69%.

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.

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