Comerica Incorporated (NYSE:CMA) Holdings Raised by Plan Group Financial LLC

Key Points

• Plan Group Financial LLC increased its holdings in Comerica Incorporated by 45.3% during the first quarter, owning 21,688 shares valued at $1,281,000.
• Comerica reported $1.42 earnings per share for the latest quarter, exceeding analysts' expectations of $1.23, with revenues reaching $849 million.
• The company will pay a quarterly dividend of $0.71 per share on October 1st, indicating a 4.2% yield and a payout ratio of 54.41%.

Plan Group Financial LLC lifted its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 45.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,688 shares of the financial services provider's stock after purchasing an additional 6,759 shares during the period. Plan Group Financial LLC's holdings in Comerica were worth $1,281,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Westfield Capital Management Co. LP acquired a new stake in shares of Comerica in the 1st quarter valued at $506,000. NewEdge Wealth LLC lifted its position in Comerica by 22.8% during the 1st quarter. NewEdge Wealth LLC now owns 570,735 shares of the financial services provider's stock worth $33,708,000 after acquiring an additional 105,886 shares during the last quarter. Jefferies Financial Group Inc. lifted its position in Comerica by 480.5% during the 1st quarter. Jefferies Financial Group Inc. now owns 75,465 shares of the financial services provider's stock worth $4,457,000 after acquiring an additional 62,465 shares during the last quarter. Lyell Wealth Management LP acquired a new position in Comerica during the 1st quarter worth $1,251,000. Finally, Meeder Asset Management Inc. lifted its position in Comerica by 0.3% during the 1st quarter. Meeder Asset Management Inc. now owns 84,408 shares of the financial services provider's stock worth $4,985,000 after acquiring an additional 221 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Comerica Trading Up 1.1%

Shares of NYSE CMA opened at $67.38 on Tuesday. Comerica Incorporated has a twelve month low of $48.12 and a twelve month high of $73.45. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.84. The company's fifty day moving average is $61.11 and its 200-day moving average is $59.88. The stock has a market cap of $8.66 billion, a price-to-earnings ratio of 12.91, a P/E/G ratio of 12.02 and a beta of 0.94.

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

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 15th will be paid a $0.71 dividend. The ex-dividend date is Monday, September 15th. This represents a $2.84 annualized dividend and a yield of 4.2%. Comerica's payout ratio is 54.41%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CMA. JPMorgan Chase & Co. boosted their target price on shares of Comerica from $52.00 to $60.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 1st. Evercore ISI lowered shares of Comerica from an "in-line" rating to an "underperform" rating and cut their price objective for the company from $65.00 to $50.00 in a research report on Tuesday, April 22nd. Keefe, Bruyette & Woods increased their price target on shares of Comerica from $69.00 to $73.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Citigroup increased their price target on shares of Comerica from $54.00 to $61.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 2nd. Finally, Royal Bank Of Canada decreased their price objective on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Six research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $63.25.

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.

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