UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Has $28.59 Million Position in Comerica Incorporated $CMA

Key Points

• UBS Asset Management increased its stake in Comerica Incorporated by 2.4%, owning a total of 483,992 shares valued at approximately $28.6 million as of the latest SEC filing.
• Comerica reported $1.42 earnings per share in its latest quarterly earnings, exceeding analysts' expectations of $1.23, along with revenues of $849 million for the quarter.
• The company declared a $0.71 per share dividend to be paid on October 1st, representing a yield of 4.1% based on its current payout ratio of 54.41%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 2.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 483,992 shares of the financial services provider's stock after buying an additional 11,268 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.37% of Comerica worth $28,585,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. MorganRosel Wealth Management LLC acquired a new position in Comerica in the first quarter worth $33,000. Gen Wealth Partners Inc acquired a new position in shares of Comerica during the first quarter valued at $34,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of Comerica during the first quarter valued at $55,000. MAI Capital Management boosted its holdings in shares of Comerica by 32.1% during the first quarter. MAI Capital Management now owns 942 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 229 shares during the period. Finally, Quarry LP boosted its holdings in shares of Comerica by 38.9% during the first quarter. Quarry LP now owns 1,204 shares of the financial services provider's stock valued at $71,000 after acquiring an additional 337 shares during the period. Institutional investors own 80.74% of the company's stock.

Insiders Place Their Bets

In other Comerica news, insider James Mcgregor Carr sold 4,000 shares of Comerica stock in a transaction on Friday, August 8th. The stock was sold at an average price of $67.28, for a total transaction of $269,120.00. Following the completion of the transaction, the insider directly owned 33,471 shares of the company's stock, valued at approximately $2,251,928.88. This trade represents a 10.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Allysun C. Fleming sold 2,100 shares of Comerica stock in a transaction on Friday, August 8th. The shares were sold at an average price of $67.03, for a total value of $140,763.00. Following the transaction, the executive vice president directly owned 9,424 shares of the company's stock, valued at approximately $631,690.72. The trade was a 18.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

CMA has been the topic of a number of recent analyst reports. UBS Group set a $64.00 price objective on shares of Comerica and gave the company a "neutral" rating in a research note on Monday, July 21st. Cantor Fitzgerald initiated coverage on shares of Comerica in a research note on Wednesday, September 10th. They set a "neutral" rating and a $72.00 price objective on the stock. Keefe, Bruyette & Woods lifted their price objective on shares of Comerica from $69.00 to $73.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Jefferies Financial Group lifted their price objective on shares of Comerica from $70.00 to $75.00 and gave the company a "hold" rating in a research note on Wednesday, September 3rd. Finally, Stephens restated an "equal weight" rating on shares of Comerica in a research note on Monday, July 21st. Five equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and five have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $65.10.

Comerica Stock Performance

Shares of Comerica stock traded down $0.53 during midday trading on Friday, hitting $69.81. The company had a trading volume of 2,603,481 shares, compared to its average volume of 1,661,226. The business's 50 day simple moving average is $67.89 and its two-hundred day simple moving average is $60.73. The stock has a market cap of $8.97 billion, a PE ratio of 13.37, a P/E/G ratio of 12.63 and a beta of 0.97. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.96 and a quick ratio of 0.96. Comerica Incorporated has a 1-year low of $48.12 and a 1-year high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last issued its earnings results on Friday, July 18th. The financial services provider reported $1.42 EPS for the quarter, topping the consensus estimate of $1.23 by $0.19. The firm had revenue of $849.00 million during the quarter, compared to analysts' expectations of $844.39 million. Comerica had a return on equity of 10.92% and a net margin of 14.92%.During the same period last year, the business earned $1.49 earnings per share. As a group, equities analysts predict that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.1%. Comerica's dividend payout ratio (DPR) is presently 54.41%.

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.