17,635 Shares in Comerica Incorporated (NYSE:CMA) Acquired by Fermata Advisors LLC

Fermata Advisors LLC acquired a new position in shares of Comerica Incorporated (NYSE:CMA - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 17,635 shares of the financial services provider's stock, valued at approximately $1,042,000.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CMA. Stephens lowered Comerica from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $66.00 to $64.00 in a report on Monday, March 31st. Wells Fargo & Company lowered their target price on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Robert W. Baird dropped their price target on shares of Comerica from $80.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. The Goldman Sachs Group decreased their price objective on shares of Comerica from $66.00 to $57.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Finally, Morgan Stanley lowered shares of Comerica from an "equal weight" rating to an "underweight" rating and lowered their price objective for the company from $63.00 to $55.00 in a research note on Monday, April 7th. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $62.37.

Comerica Trading Down 0.0%

Shares of Comerica stock traded down $0.03 during trading on Thursday, hitting $57.44. The stock had a trading volume of 807,119 shares, compared to its average volume of 2,185,934. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The stock has a 50 day simple moving average of $55.05 and a 200 day simple moving average of $61.06. 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 company has a market capitalization of $7.55 billion, a PE ratio of 11.44 and a beta of 0.92.

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

Comerica Dividend Announcement

The firm 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 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 4.94%. Comerica's dividend payout ratio 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.