Assenagon Asset Management S.A. Acquires Shares of 165,577 Comerica Incorporated (NYSE:CMA)

Assenagon Asset Management S.A. purchased a new stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 165,577 shares of the financial services provider's stock, valued at approximately $9,779,000. Assenagon Asset Management S.A. owned 0.13% of Comerica as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. V Square Quantitative Management LLC grew its position 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 during the period. Quarry LP boosted its stake in Comerica by 152.0% during the 4th quarter. Quarry LP now owns 867 shares of the financial services provider's stock worth $54,000 after acquiring an additional 523 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in Comerica by 64.3% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,362 shares of the financial services provider's stock valued at $84,000 after purchasing an additional 533 shares during the period. Deseret Mutual Benefit Administrators grew its holdings in Comerica by 38.9% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,453 shares of the financial services provider's stock valued at $90,000 after purchasing an additional 407 shares during the period. Finally, UMB Bank n.a. increased its stake in Comerica by 19.4% in the first quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider's stock valued at $105,000 after purchasing an additional 289 shares in the last quarter. Institutional investors own 80.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on CMA shares. Robert W. Baird decreased their price target on shares of Comerica from $80.00 to $75.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. UBS Group upgraded Comerica from a "sell" rating to a "neutral" rating and set a $59.00 target price on the stock in a report on Thursday, April 10th. JPMorgan Chase & Co. downgraded Comerica from a "neutral" rating to an "underweight" rating and lowered their price target for the stock from $64.00 to $52.00 in a report on Tuesday, April 22nd. Stephens lowered Comerica from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $66.00 to $64.00 in a research report on Monday, March 31st. Finally, The Goldman Sachs Group decreased 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. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $61.95.

Comerica Stock Down 0.8%

Shares of NYSE:CMA traded down $0.46 during midday trading on Tuesday, reaching $55.01. The company had a trading volume of 1,050,271 shares, compared to its average volume of 2,153,210. Comerica Incorporated has a 1-year low of $46.61 and a 1-year high of $73.45. The stock has a market cap of $7.23 billion, a PE ratio of 10.40 and a beta of 0.92. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.86. The business's 50 day moving average price is $55.61 and its 200 day moving average price is $60.23.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings results 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. The firm had revenue of $829.00 million for the quarter, compared to analyst estimates of $839.31 million. Comerica had a return on equity of 11.59% and a net margin of 14.89%. During the same quarter in the previous year, the firm earned $1.29 EPS. Research analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.16%. The ex-dividend date is Friday, June 13th. Comerica's dividend payout ratio (DPR) is presently 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.