BNP Paribas Financial Markets Has $5.72 Million Stake in Comerica Incorporated (NYSE:CMA)

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PL Capital Advisors LLC boosted its holdings in Comerica by 6,085.0% in the fourth quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider's stock valued at $109,981,000 after purchasing an additional 1,749,438 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of Comerica during the 4th quarter valued at approximately $82,419,000. Norges Bank bought a new position in Comerica during the fourth quarter worth $64,150,000. North Reef Capital Management LP boosted its holdings in Comerica by 15.7% in the fourth quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider's stock worth $250,492,000 after purchasing an additional 550,000 shares during the period. Finally, Canada Pension Plan Investment Board increased its stake in Comerica by 548.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 642,400 shares of the financial services provider's stock valued at $39,732,000 after purchasing an additional 543,400 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Price Performance

Shares of NYSE CMA traded up $0.73 during midday trading on Friday, reaching $58.81. The company's stock had a trading volume of 1,297,202 shares, compared to its average volume of 2,194,499. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45. The company has a market cap of $7.73 billion, a price-to-earnings ratio of 11.71 and a beta of 0.92. The company has a 50 day moving average price of $55.53 and a 200 day moving average price of $62.08. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, topping 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 firm had revenue of $829.00 million for the quarter, compared to analysts' expectations of $839.31 million. During the same quarter last year, the business posted $1.29 EPS. On average, equities research analysts expect that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The company 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 yield of 4.83%. The ex-dividend date of this dividend is Friday, June 13th. Comerica's dividend payout ratio is 53.69%.

Wall Street Analyst Weigh In

CMA has been the subject of several research reports. JPMorgan Chase & Co. lowered shares of Comerica from a "neutral" rating to an "underweight" rating and decreased their price target for the company from $64.00 to $52.00 in a report on Tuesday, April 22nd. Robert W. Baird lowered their price objective on Comerica from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Argus upgraded Comerica to a "hold" rating in a research note on Friday, January 31st. Royal Bank of Canada lowered their price target on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Finally, Stephens downgraded shares of Comerica from an "overweight" rating to an "equal weight" rating and cut their price objective for the company from $66.00 to $64.00 in a research report on Monday, March 31st. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $63.22.

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.