Oak Thistle LLC Purchases New Position in Comerica Incorporated (NYSE:CMA)

Oak Thistle LLC bought a new position in shares of Comerica Incorporated (NYSE:CMA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,039 shares of the financial services provider's stock, valued at approximately $652,000.

Several other large investors also recently made changes to their positions in CMA. MorganRosel Wealth Management LLC bought a new position in Comerica in the first quarter valued at about $33,000. Quarry LP boosted its holdings in Comerica by 152.0% in the fourth quarter. Quarry LP now owns 867 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 523 shares during the last quarter. UMB Bank n.a. boosted its holdings in Comerica by 19.4% in the first quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider's stock valued at $105,000 after acquiring an additional 289 shares during the last quarter. Point72 Europe London LLP bought a new position in Comerica in the fourth quarter valued at about $130,000. Finally, MGO One Seven LLC bought a new position in Comerica in the fourth quarter valued at about $200,000. Institutional investors own 80.74% of the company's stock.

Comerica Stock Up 0.7%

Shares of CMA stock traded up $0.51 during trading hours on Friday, reaching $67.99. The company had a trading volume of 3,551,749 shares, compared to its average volume of 2,510,828. Comerica Incorporated has a 12 month low of $48.12 and a 12 month high of $73.45. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.96 and a quick ratio of 0.96. The business has a fifty day simple moving average of $59.76 and a 200-day simple moving average of $59.71. The company has a market cap of $8.93 billion, a price-to-earnings ratio of 13.02 and a beta of 0.92.

Comerica (NYSE:CMA - Get Free Report) last released its earnings results 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. The business had revenue of $849.00 million during the quarter, compared to the consensus estimate of $844.39 million. Comerica had a return on equity of 10.92% and a net margin of 14.92%. During the same period last year, the business posted $1.49 earnings per share. On average, research analysts expect 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 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 annualized dividend and a yield of 4.18%. The ex-dividend date is Friday, June 13th. Comerica's dividend payout ratio (DPR) is currently 54.41%.

Analysts Set New Price Targets

CMA has been the topic of several recent research reports. Jefferies Financial Group initiated coverage on Comerica in a report on Wednesday, May 21st. They issued an "underperform" rating and a $47.00 price target on the stock. Robert W. Baird reduced their target price on Comerica from $80.00 to $75.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods raised their target price on Comerica from $69.00 to $73.00 and gave the stock an "outperform" rating in a report on Monday. UBS Group set a $64.00 target price on Comerica and gave the stock a "neutral" rating in a report on Monday. Finally, Wells Fargo & Company reduced their target price on Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. 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. Based on data from MarketBeat.com, Comerica currently has a consensus 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.