ProShare Advisors LLC Makes New $381,000 Investment in Comerica Incorporated (NYSE:CMA)

ProShare Advisors LLC acquired a new stake in Comerica Incorporated (NYSE:CMA - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 6,153 shares of the financial services provider's stock, valued at approximately $381,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Luken Investment Analytics LLC acquired a new stake in Comerica during the 4th quarter valued at $31,000. V Square Quantitative Management LLC increased its stake in Comerica by 36.7% during the fourth 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 last quarter. Quarry LP raised 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 buying an additional 523 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of Comerica by 64.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,362 shares of the financial services provider's stock valued at $84,000 after acquiring an additional 533 shares during the period. Finally, Deseret Mutual Benefit Administrators lifted its stake in shares of Comerica by 38.9% during the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,453 shares of the financial services provider's stock worth $90,000 after purchasing an additional 407 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CMA shares. UBS Group upgraded shares of Comerica from a "sell" rating to a "neutral" rating and set a $59.00 target price for the company in a research note on Thursday, April 10th. Royal Bank of Canada decreased their price objective on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group initiated coverage on Comerica in a report on Wednesday, May 21st. They set an "underperform" rating and a $47.00 target price for the company. Raymond James dropped their price objective on shares of Comerica from $72.00 to $67.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Finally, Stephens cut Comerica from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $66.00 to $64.00 in a research report on Monday, March 31st. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $62.37.

Comerica Trading Down 0.6%

Shares of NYSE:CMA traded down $0.35 during midday trading on Friday, reaching $57.13. The company had a trading volume of 2,020,657 shares, compared to its average volume of 2,192,582. 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 Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. The firm has a market cap of $7.51 billion, a price-to-earnings ratio of 11.38 and a beta of 0.92. The company has a fifty day simple moving average of $55.22 and a two-hundred day simple moving average of $61.39.

Comerica (NYSE:CMA - Get Free Report) last issued its earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, topping the consensus estimate of $1.14 by $0.11. The business had revenue of $829.00 million during the quarter, compared to analysts' expectations of $839.31 million. Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter last year, the firm posted $1.29 earnings per share. Research analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.97%. The ex-dividend date is Friday, June 13th. Comerica's dividend payout ratio (DPR) is presently 53.69%.

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.