New York State Common Retirement Fund Buys 5,300 Shares of Comerica Incorporated (NYSE:CMA)

New York State Common Retirement Fund increased its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 5.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 94,464 shares of the financial services provider's stock after purchasing an additional 5,300 shares during the period. New York State Common Retirement Fund owned approximately 0.07% of Comerica worth $5,579,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in CMA. Salzhauer Michael boosted its position in Comerica by 39.2% during the 4th quarter. Salzhauer Michael now owns 165,971 shares of the financial services provider's stock worth $10,265,000 after acquiring an additional 46,700 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Comerica during the fourth quarter worth $7,787,000. Avantax Advisory Services Inc. acquired a new stake in Comerica in the 4th quarter valued at $272,000. Commonwealth Equity Services LLC lifted its position in Comerica by 10.1% during the 4th quarter. Commonwealth Equity Services LLC now owns 84,011 shares of the financial services provider's stock worth $5,196,000 after buying an additional 7,741 shares in the last quarter. Finally, Xponance Inc. boosted its stake in shares of Comerica by 200.4% during the 4th quarter. Xponance Inc. now owns 15,108 shares of the financial services provider's stock worth $934,000 after buying an additional 10,079 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Comerica Price Performance

Shares of NYSE:CMA traded up $0.89 during trading on Thursday, reaching $67.52. 3,430,161 shares of the company traded hands, compared to its average volume of 2,400,308. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.84. Comerica Incorporated has a 52 week low of $48.12 and a 52 week high of $73.45. The firm has a market capitalization of $8.87 billion, a PE ratio of 12.94 and a beta of 0.92. The company's 50 day moving average is $59.58 and its two-hundred day moving average is $59.68.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings data on Friday, July 18th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.19. Comerica had a net margin of 14.92% and a return on equity of 10.92%. The firm had revenue of $849.00 million for the quarter, compared to the consensus estimate of $844.39 million. During the same period in the prior year, the company posted $1.49 earnings per share. As a group, sell-side analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.84 annualized dividend and a yield of 4.21%. Comerica's dividend payout ratio is currently 54.41%.

Analyst Ratings Changes

CMA has been the topic of a number of recent research reports. Stephens reaffirmed an "equal weight" rating on shares of Comerica in a research report on Monday. Wells Fargo & Company decreased their price target on Comerica from $67.00 to $55.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. The Goldman Sachs Group dropped their price objective on Comerica from $66.00 to $57.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Evercore ISI cut shares of Comerica from an "in-line" rating to an "underperform" rating and decreased their target price for the company from $65.00 to $50.00 in a research note on Tuesday, April 22nd. Finally, Citigroup boosted their target price on shares of Comerica from $54.00 to $61.00 and gave the stock a "neutral" rating in a report on Wednesday, July 2nd. Six investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Comerica has an average rating of "Hold" and a consensus price target of $63.25.

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.