Comerica Incorporated (NYSE:CMA) Shares Bought by Two Sigma Investments LP

Two Sigma Investments LP grew its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 32.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,055,793 shares of the financial services provider's stock after purchasing an additional 261,418 shares during the quarter. Two Sigma Investments LP owned approximately 0.80% of Comerica worth $65,301,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. PL Capital Advisors LLC grew its stake in Comerica by 6,085.0% during the 4th quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider's stock worth $109,981,000 after buying an additional 1,749,438 shares during the last quarter. Jupiter Asset Management Ltd. bought a new position in shares of Comerica during the fourth quarter worth about $82,419,000. Norges Bank acquired a new stake in shares of Comerica in the 4th quarter worth about $64,150,000. North Reef Capital Management LP lifted its position in 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 during the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in 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 purchasing an additional 543,400 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CMA has been the subject of a number of recent analyst reports. Raymond James decreased their price objective on Comerica from $72.00 to $67.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Argus upgraded Comerica to a "hold" rating in a research report on Friday, January 31st. Wells Fargo & Company lowered their price target on Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods cut their price objective on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Finally, Royal Bank of Canada reduced their price objective on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $63.22.

Comerica Price Performance

CMA stock opened at $58.59 on Tuesday. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45. The firm has a 50-day moving average of $55.58 and a two-hundred day moving average of $61.99. The firm has a market capitalization of $7.70 billion, a PE ratio of 11.67 and a beta of 0.92. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.14 by $0.11. Comerica had a net margin of 13.98% and a return on equity of 12.04%. The business had revenue of $829.00 million during the quarter, compared to the consensus estimate of $839.31 million. During the same quarter in the prior year, the firm earned $1.29 EPS. On average, analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.84 annualized dividend and a dividend yield of 4.85%. 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.

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