BNP Paribas Financial Markets Boosts Stock Holdings in Comerica Incorporated (NYSE:CMA)

BNP Paribas Financial Markets raised its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 359.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,426 shares of the financial services provider's stock after purchasing an additional 72,306 shares during the period. BNP Paribas Financial Markets owned 0.07% of Comerica worth $5,717,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Independent Advisor Alliance bought a new stake in Comerica during the 4th quarter valued at $206,000. Bank of Nova Scotia purchased a new position in Comerica in the 4th quarter worth $1,320,000. Jupiter Asset Management Ltd. purchased a new position in shares of Comerica during the 4th quarter valued at about $82,419,000. Franklin Resources Inc. raised its stake in shares of Comerica by 251.1% during the 4th quarter. Franklin Resources Inc. now owns 51,573 shares of the financial services provider's stock valued at $3,190,000 after buying an additional 36,883 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Comerica by 220.9% during the 4th quarter. Jones Financial Companies Lllp now owns 10,762 shares of the financial services provider's stock valued at $666,000 after buying an additional 7,408 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on CMA. Robert W. Baird dropped their target price on Comerica from $80.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Raymond James dropped their target price on Comerica from $72.00 to $67.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Wells Fargo & Company dropped their target price on Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. Evercore ISI cut Comerica from an "in-line" rating to an "underperform" rating and dropped their target price for the company from $65.00 to $50.00 in a research report on Tuesday, April 22nd. Finally, Truist Financial dropped their target price on Comerica from $65.00 to $57.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $63.22.

Comerica Trading Up 1.3%

Shares of CMA stock traded up $0.73 during trading on Friday, hitting $58.81. 1,297,202 shares of the stock traded hands, compared to its average volume of 2,204,356. The firm has a market capitalization of $7.73 billion, a P/E ratio of 11.71 and a beta of 0.92. 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 firm's fifty day moving average price is $55.56 and its 200-day moving average price is $62.02. Comerica Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45.

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

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date of this dividend is Friday, June 13th. Comerica's payout ratio is 53.69%.

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.