Comerica Incorporated (NYSE:CMA) Shares Bought by Allianz Asset Management GmbH

Allianz Asset Management GmbH boosted its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 2.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 321,743 shares of the financial services provider's stock after acquiring an additional 6,684 shares during the period. Allianz Asset Management GmbH owned 0.25% of Comerica worth $19,002,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Comerica in the 4th quarter worth about $64,150,000. North Reef Capital Management LP raised 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 purchasing an additional 550,000 shares in the last quarter. Canada Pension Plan Investment Board boosted its holdings in shares of Comerica by 548.9% in 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 buying an additional 543,400 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in Comerica by 29.7% during the fourth 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 acquiring an additional 492,381 shares during the last quarter. Finally, Mackenzie Financial Corp purchased a new stake in Comerica during the fourth quarter valued at approximately $25,692,000. Hedge funds and other institutional investors own 80.74% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CMA shares. DA Davidson set a $60.00 price target on Comerica and gave the stock a "neutral" rating in a report on Monday. UBS Group set a $64.00 price objective on shares of Comerica and gave the stock a "neutral" rating in a research note on Monday. Keefe, Bruyette & Woods upped their target price on Comerica from $69.00 to $73.00 and gave the company an "outperform" rating in a research report on Monday. Royal Bank Of Canada dropped their price target on Comerica from $75.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company decreased their target price on Comerica from $67.00 to $55.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Six investment analysts have rated the stock with a sell rating, eleven have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $63.25.

Comerica Trading Up 0.7%

NYSE:CMA traded up $0.51 during trading hours on Friday, reaching $67.99. 3,551,749 shares of the stock were exchanged, compared to its average volume of 2,510,828. 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 business has a 50-day moving average of $59.76 and a two-hundred day moving average of $59.71. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 13.02 and a beta of 0.92.

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 the consensus estimate of $1.23 by $0.19. The company had revenue of $849.00 million during the quarter, compared to the consensus estimate of $844.39 million. Comerica had a return on equity of 10.92% and a net margin of 14.92%. During the same period in the previous year, the company posted $1.49 EPS. On average, equities analysts predict that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be given a $0.71 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.84 annualized dividend and a yield of 4.18%. Comerica's dividend payout ratio is presently 54.41%.

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.