6,888 Shares in Comerica Incorporated (NYSE:CMA) Bought by Focus Partners Wealth

Focus Partners Wealth purchased a new stake in Comerica Incorporated (NYSE:CMA - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 6,888 shares of the financial services provider's stock, valued at approximately $426,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CMA. Blue Trust Inc. boosted its position in shares of Comerica by 5.2% during the 4th quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider's stock worth $242,000 after purchasing an additional 200 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Comerica by 2.0% during the 4th quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider's stock worth $672,000 after acquiring an additional 211 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in shares of Comerica by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock worth $51,000 after acquiring an additional 221 shares during the period. US Bancorp DE increased its stake in Comerica by 2.0% in the 4th quarter. US Bancorp DE now owns 11,823 shares of the financial services provider's stock valued at $731,000 after purchasing an additional 227 shares in the last quarter. Finally, MCF Advisors LLC raised its holdings in Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock worth $39,000 after purchasing an additional 228 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Wall Street Analyst Weigh In

CMA has been the topic of several research reports. JPMorgan Chase & Co. lowered Comerica from a "neutral" rating to an "underweight" rating and lowered their target price for the company from $64.00 to $52.00 in a report on Tuesday, April 22nd. Robert W. Baird lowered their price objective on shares of Comerica from $80.00 to $75.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley cut shares of Comerica from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $63.00 to $55.00 in a research report on Monday, April 7th. Evercore ISI downgraded shares of Comerica from an "in-line" rating to an "underperform" rating and reduced their price target for the company from $65.00 to $50.00 in a report on Tuesday, April 22nd. Finally, Stephens cut shares of Comerica from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $66.00 to $64.00 in a research note on Monday, March 31st. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $62.37.

Comerica Trading Down 0.3%

Comerica stock traded down $0.14 during trading on Friday, hitting $56.22. The company's stock had a trading volume of 1,514,231 shares, compared to its average volume of 2,191,509. The stock's fifty day moving average is $55.53 and its 200 day moving average is $61.88. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. The stock has a market capitalization of $7.39 billion, a price-to-earnings ratio of 11.20 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $839.31 million. During the same period in the prior year, the firm posted $1.29 EPS. As a group, equities research analysts predict that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date is Friday, June 13th. Comerica's dividend payout ratio is currently 53.69%.

About Comerica

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.