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. raised its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 480.5% during the first quarter, according to its most recent 13F filing 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 large investors have also recently made changes to their positions in the company. Salzhauer Michael raised its stake in Comerica by 39.2% in the fourth quarter. Salzhauer Michael now owns 165,971 shares of the financial services provider's stock valued at $10,265,000 after buying an additional 46,700 shares in the last quarter. LPL Financial LLC lifted its stake in Comerica by 16.8% during the fourth quarter. LPL Financial LLC now owns 46,620 shares of the financial services provider's stock worth $2,883,000 after purchasing an additional 6,699 shares during the last quarter. Norges Bank purchased a new position in Comerica in the fourth quarter valued at approximately $64,150,000. Schroder Investment Management Group acquired a new stake in Comerica during the fourth quarter worth approximately $706,000. Finally, O Shaughnessy Asset Management LLC grew its position in shares of Comerica by 7.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 30,599 shares of the financial services provider's stock valued at $1,893,000 after buying an additional 2,202 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Comerica Stock Up 1.1%

NYSE CMA traded up $0.77 during trading hours on Monday, hitting $67.38. The company had a trading volume of 1,369,010 shares, compared to its average volume of 2,960,071. The firm's 50 day moving average is $60.89 and its 200 day moving average is $59.87. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.96 and a quick ratio of 0.96. Comerica Incorporated has a fifty-two week low of $48.12 and a fifty-two week high of $73.45. The company has a market capitalization of $8.66 billion, a price-to-earnings ratio of 12.91, a P/E/G ratio of 12.02 and a beta of 0.94.

Comerica (NYSE:CMA - Get Free Report) last posted its earnings results on Friday, July 18th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.19. The business had revenue of $849.00 million during the quarter, compared to analyst estimates of $844.39 million. Comerica had a return on equity of 10.92% and a net margin of 14.92%. During the same quarter last year, the firm earned $1.49 earnings per share. Sell-side analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend is Monday, September 15th. Comerica's dividend payout ratio (DPR) is presently 54.41%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CMA shares. Morgan Stanley lowered Comerica from an "equal weight" rating to an "underweight" rating and dropped their price objective for the stock from $63.00 to $55.00 in a report on Monday, April 7th. Robert W. Baird decreased their price target on shares of Comerica from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Royal Bank Of Canada dropped their price objective on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. JPMorgan Chase & Co. increased their target price 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. Finally, Truist Financial boosted their price target on Comerica from $61.00 to $68.00 and gave the company a "hold" rating in a research report on Thursday, July 24th. Six investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, Comerica currently has an average rating of "Hold" and a consensus target price of $63.25.

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.