Cubist Systematic Strategies LLC Acquires Shares of 192,322 Comerica Incorporated (NYSE:CMA)

Cubist Systematic Strategies LLC bought a new stake in Comerica Incorporated (NYSE:CMA - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 192,322 shares of the financial services provider's stock, valued at approximately $11,895,000. Cubist Systematic Strategies LLC owned about 0.15% of Comerica at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in CMA. Trust Co. of Vermont grew its position in Comerica by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock valued at $26,000 after buying an additional 321 shares during the last quarter. Luken Investment Analytics LLC acquired a new position in shares of Comerica during the fourth quarter worth about $31,000. MCF Advisors LLC raised its holdings in Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock worth $39,000 after purchasing an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Comerica in the 3rd quarter valued at approximately $42,000. Finally, V Square Quantitative Management LLC raised its stake in shares of Comerica by 36.7% during the 4th 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 in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CMA. Royal Bank of Canada cut their price objective on Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley downgraded shares of Comerica from an "equal weight" rating to an "underweight" rating and cut their price target for the company from $63.00 to $55.00 in a report on Monday, April 7th. JPMorgan Chase & Co. cut shares of Comerica from a "neutral" rating to an "underweight" rating and dropped their target price for the company from $64.00 to $52.00 in a report on Tuesday, April 22nd. The Goldman Sachs Group decreased their price target on Comerica from $66.00 to $57.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Finally, Robert W. Baird decreased 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. Five investment 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 data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $63.22.

Comerica Trading Up 3.9%

Shares of NYSE:CMA traded up $2.16 during midday trading on Monday, reaching $58.14. The company's stock had a trading volume of 519,202 shares, compared to its average volume of 2,201,299. The firm has a market cap of $7.64 billion, a price-to-earnings ratio of 11.60 and a beta of 0.92. The business has a 50 day moving average price of $55.51 and a 200 day moving average price of $62.18. Comerica Incorporated has a 1 year low of $45.32 and a 1 year 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.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $829.00 million during the quarter, compared to the consensus estimate 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 prior year, the company posted $1.29 EPS. Research analysts forecast that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.84 annualized dividend and a yield of 4.88%. Comerica's dividend payout ratio is currently 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.