Jefferies Financial Group Inc. Has $4.46 Million Stock Holdings in Comerica Incorporated (NYSE:CMA)

Key Points

• Jefferies Financial Group Inc. significantly increased its holdings in Comerica Incorporated by 480.5%, acquiring 62,465 shares during the 1st quarter, now owning 75,465 shares worth approximately $4.46 million.
• Comerica recently reported earnings of $1.42 per share, surpassing analysts' expectations of $1.23, with a revenue of $849 million for the quarter.
• The company's quarterly dividend of $0.71 per share reflects an annualized dividend yield of 4.3%, with a payout ratio of 54.41%.

Jefferies Financial Group Inc. lifted its position in Comerica Incorporated (NYSE:CMA - Free Report) by 480.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,465 shares of the financial services provider's stock after purchasing an additional 62,465 shares during the period. Jefferies Financial Group Inc. owned about 0.06% of Comerica worth $4,457,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. MorganRosel Wealth Management LLC bought a new stake in shares of Comerica during the first quarter valued at approximately $33,000. Quarry LP boosted its stake in Comerica by 152.0% during the fourth quarter. Quarry LP now owns 867 shares of the financial services provider's stock worth $54,000 after buying an additional 523 shares during the period. UMB Bank n.a. boosted its stake in shares of Comerica by 19.4% during the first quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider's stock valued at $105,000 after purchasing an additional 289 shares during the period. Point72 Europe London LLP purchased a new stake in shares of Comerica during the fourth quarter valued at $130,000. Finally, MGO One Seven LLC purchased a new stake in Comerica in the fourth quarter worth about $200,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Stock Performance

CMA traded down $0.55 on Wednesday, hitting $67.05. 1,055,231 shares of the stock traded hands, compared to its average volume of 2,008,635. Comerica Incorporated has a 52 week low of $48.12 and a 52 week high of $73.45. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $8.62 billion, a PE ratio of 12.85, a P/E/G ratio of 12.16 and a beta of 0.94. The business has a fifty day moving average price of $61.31 and a two-hundred day moving average price of $59.93.

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

Comerica Dividend Announcement

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

Analyst Upgrades and Downgrades

CMA has been the topic of several recent analyst reports. Raymond James Financial restated a "market perform" rating on shares of Comerica in a report on Tuesday, July 8th. Truist Financial raised their price objective on Comerica from $61.00 to $68.00 and gave the company a "hold" rating in a report on Thursday, July 24th. Wells Fargo & Company cut their price objective on Comerica from $67.00 to $55.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group upgraded Comerica from an "underperform" rating to a "hold" rating and raised their target price for the company from $50.00 to $70.00 in a report on Wednesday. Finally, Robert W. Baird decreased their target price on Comerica from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Five analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently 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.