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

Point72 Hong Kong Ltd increased its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 865.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 61,712 shares of the financial services provider's stock after buying an additional 55,319 shares during the period. Point72 Hong Kong Ltd's holdings in Comerica were worth $3,817,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Independent Advisor Alliance bought a new position in shares of Comerica during the fourth quarter worth approximately $206,000. Bank of Nova Scotia bought a new stake in shares of Comerica during the 4th quarter valued at $1,320,000. Jupiter Asset Management Ltd. bought a new position in Comerica in the 4th quarter valued at about $82,419,000. Franklin Resources Inc. increased its holdings in Comerica by 251.1% in 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 period. Finally, Jones Financial Companies Lllp increased its holdings in Comerica by 220.9% in 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 period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have weighed in on CMA. Stephens cut Comerica from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $66.00 to $64.00 in a research note on Monday, March 31st. Wells Fargo & Company dropped their price objective on shares of 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 lowered their price target on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Evercore ISI cut shares of Comerica from an "in-line" rating to an "underperform" rating and decreased their price target for the company from $65.00 to $50.00 in a research report on Tuesday, April 22nd. Finally, DA Davidson cut their target price on Comerica from $71.00 to $67.00 and set a "neutral" rating on the stock in a report on Thursday, January 23rd. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $63.22.

Comerica Stock Performance

Shares of NYSE CMA traded down $0.20 during mid-day trading on Monday, reaching $58.59. 1,000,737 shares of the company's stock were exchanged, compared to its average volume of 2,199,540. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45. The firm has a 50-day moving average price of $55.56 and a two-hundred day moving average price of $62.02. The firm has a market capitalization of $7.70 billion, a price-to-earnings ratio of 11.67 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.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 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 analysts' expectations of $839.31 million. During the same period in the prior year, the company posted $1.29 EPS. Analysts predict that Comerica Incorporated will post 5.28 EPS for the current 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 given a dividend of $0.71 per share. The ex-dividend date is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.85%. Comerica's dividend payout ratio (DPR) 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.