Point72 Hong Kong Ltd Buys 55,319 Shares of Comerica Incorporated (NYSE:CMA)

Point72 Hong Kong Ltd increased its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 865.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,712 shares of the financial services provider's stock after buying an additional 55,319 shares during the quarter. Point72 Hong Kong Ltd's holdings in Comerica were worth $3,817,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of CMA. Franklin Resources Inc. lifted its position in shares of Comerica by 9.3% during the 3rd quarter. Franklin Resources Inc. now owns 14,690 shares of the financial services provider's stock worth $901,000 after buying an additional 1,255 shares during the period. Wedmont Private Capital lifted its position in shares of Comerica by 2.4% during the 4th quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider's stock worth $474,000 after buying an additional 186 shares during the period. Trust Co. of Vermont lifted its position in shares of Comerica by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock worth $26,000 after buying an additional 321 shares during the period. HB Wealth Management LLC lifted its position in shares of Comerica by 6.8% during the 4th quarter. HB Wealth Management LLC now owns 6,750 shares of the financial services provider's stock worth $417,000 after buying an additional 430 shares during the period. Finally, UMB Bank n.a. lifted its position in shares of Comerica by 74.2% during the 4th quarter. UMB Bank n.a. now owns 1,488 shares of the financial services provider's stock worth $92,000 after buying an additional 634 shares during the period. Institutional investors own 80.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. UBS Group upgraded Comerica from a "sell" rating to a "neutral" rating and set a $59.00 target price for the company in a research report on Thursday, April 10th. Robert W. Baird cut their price objective on Comerica from $80.00 to $75.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Keefe, Bruyette & Woods cut their price objective on Comerica from $77.00 to $68.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley downgraded Comerica from an "equal weight" rating to an "underweight" rating and cut their price objective for the company from $63.00 to $55.00 in a research report on Monday, April 7th. Finally, The Goldman Sachs Group cut their price objective on Comerica from $66.00 to $57.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Comerica has an average rating of "Hold" and an average target price of $63.22.

Comerica Trading Down 0.3%

Shares of Comerica stock traded down $0.17 during trading on Tuesday, reaching $58.43. 263,641 shares of the company were exchanged, compared to its average volume of 2,191,890. Comerica Incorporated has a twelve month low of $45.32 and a twelve month high of $73.45. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of 11.64 and a beta of 0.92. The business has a 50-day moving average price of $55.58 and a 200-day moving average price of $61.99.

Comerica (NYSE:CMA - Get Free Report) last posted its 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 return on equity of 12.04% and a net margin of 13.98%. 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 previous year, the firm earned $1.29 earnings per share. Sell-side analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be issued a $0.71 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.86%. Comerica's dividend payout ratio (DPR) is 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.