Quantinno Capital Management LP Grows Position in Comerica Incorporated (NYSE:CMA)

Quantinno Capital Management LP raised its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 27.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,028 shares of the financial services provider's stock after acquiring an additional 9,521 shares during the quarter. Quantinno Capital Management LP's holdings in Comerica were worth $2,723,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Independent Advisor Alliance bought a new position in shares of Comerica in the fourth quarter worth $206,000. Bank of Nova Scotia bought a new stake in Comerica during the fourth quarter valued at approximately $1,320,000. Jupiter Asset Management Ltd. bought a new position in Comerica in the fourth quarter valued at $82,419,000. Franklin Resources Inc. increased its position in shares of Comerica by 251.1% during the 4th quarter. Franklin Resources Inc. now owns 51,573 shares of the financial services provider's stock valued at $3,190,000 after purchasing an additional 36,883 shares during the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Comerica by 220.9% in the 4th quarter. Jones Financial Companies Lllp now owns 10,762 shares of the financial services provider's stock worth $666,000 after acquiring an additional 7,408 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Analyst Upgrades and Downgrades

CMA has been the topic of a number of research analyst reports. Raymond James reduced their price target on Comerica from $72.00 to $67.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Argus raised shares of Comerica to a "hold" rating in a research note on Friday, January 31st. Evercore ISI downgraded 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. Morgan Stanley cut Comerica from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $63.00 to $55.00 in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. downgraded Comerica from a "neutral" rating to an "underweight" rating and cut their price target for the stock from $64.00 to $52.00 in a research note on Tuesday, April 22nd. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Comerica presently has a consensus rating of "Hold" and an average target price of $62.37.

Comerica Stock Performance

Shares of CMA stock traded down $0.14 on Monday, reaching $56.22. The stock had a trading volume of 1,514,231 shares, compared to its average volume of 2,192,477. 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 stock has a market cap of $7.39 billion, a P/E ratio of 11.20 and a beta of 0.92. The company has a 50 day simple moving average of $55.49 and a 200 day simple moving average of $61.73.

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

Comerica Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Friday, June 13th. This represents a $2.84 annualized dividend and a dividend yield of 5.05%. Comerica's dividend payout ratio (DPR) is 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.