Comerica Incorporated (NYSE:CMA) Shares Bought 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 grew its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 45.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,688 shares of the financial services provider's stock after purchasing an additional 6,759 shares during the quarter. Plan Group Financial LLC's holdings in Comerica were worth $1,281,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CMA. Dimensional Fund Advisors LP increased its holdings in shares of Comerica by 2.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 5,035,820 shares of the financial services provider's stock valued at $311,464,000 after acquiring an additional 114,072 shares during the period. North Reef Capital Management LP increased its holdings in shares of 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. Geode Capital Management LLC increased its holdings in shares of Comerica by 4.9% in the 4th quarter. Geode Capital Management LLC now owns 2,214,963 shares of the financial services provider's stock valued at $137,039,000 after acquiring an additional 103,118 shares during the period. Barrow Hanley Mewhinney & Strauss LLC increased its stake in Comerica by 29.7% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,149,591 shares of the financial services provider's stock valued at $132,952,000 after buying an additional 492,381 shares during the period. Finally, Northern Trust Corp raised its position in Comerica by 26.9% during the 4th quarter. Northern Trust Corp now owns 1,900,261 shares of the financial services provider's stock worth $117,531,000 after buying an additional 402,992 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Comerica Trading Up 1.2%

NYSE:CMA traded up $0.79 on Friday, reaching $66.80. The stock had a trading volume of 1,249,938 shares, compared to its average volume of 2,893,904. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 12.80, a P/E/G ratio of 11.91 and a beta of 0.94. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.96 and a quick ratio of 0.96. The firm's fifty day moving average is $61.87 and its two-hundred day moving average is $59.98. Comerica Incorporated has a 12-month low of $48.12 and a 12-month high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.42 EPS 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 company had revenue of $849.00 million during the quarter, compared to the consensus estimate of $844.39 million. During the same quarter in the prior year, the company posted $1.49 EPS. Equities analysts expect that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 15th will be paid 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 4.3%. Comerica's dividend payout ratio is currently 54.41%.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Comerica from $52.00 to $60.00 and gave the stock an "underweight" rating in a research note on Tuesday, July 1st. Stephens reiterated an "equal weight" rating on shares of Comerica in a research note on Monday, July 21st. Wells Fargo & Company dropped their price target 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. UBS Group set a $64.00 price target on shares of Comerica and gave the stock a "neutral" rating in a research note on Monday, July 21st. Finally, Citigroup boosted their price target on shares of Comerica from $54.00 to $61.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 2nd. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $64.40.

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.