Tounjian Advisory Partners LLC Acquires Shares of 10,078 Comerica Incorporated (NYSE:CMA)

Tounjian Advisory Partners LLC acquired a new position in Comerica Incorporated (NYSE:CMA - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 10,078 shares of the financial services provider's stock, valued at approximately $595,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. V Square Quantitative Management LLC lifted its stake in Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock valued at $51,000 after buying an additional 221 shares during the period. Quarry LP lifted its stake 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 lifted its stake in Comerica by 64.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,362 shares of the financial services provider's stock valued at $84,000 after buying an additional 533 shares during the period. Deseret Mutual Benefit Administrators lifted its stake in Comerica by 38.9% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,453 shares of the financial services provider's stock valued at $90,000 after buying an additional 407 shares during the period. Finally, UMB Bank n.a. lifted its stake 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 buying an additional 289 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on CMA shares. Truist Financial boosted their price target on Comerica from $60.00 to $61.00 and gave the company a "hold" rating in a research note on Friday. Keefe, Bruyette & Woods dropped their price target on Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Raymond James dropped their price target on Comerica from $72.00 to $67.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. JPMorgan Chase & Co. lowered Comerica from a "neutral" rating to an "underweight" rating and lowered their target price for the stock from $64.00 to $52.00 in a research report on Tuesday, April 22nd. Finally, Robert W. Baird lowered their target price on Comerica from $80.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $61.95.

Comerica Stock Down 4.5%

Comerica stock traded down $2.61 during trading on Friday, hitting $54.90. 1,683,925 shares of the company were exchanged, compared to its average volume of 2,156,208. The business's 50 day moving average is $55.51 and its 200 day moving average is $60.55. Comerica Incorporated has a 52 week low of $45.86 and a 52 week high of $73.45. The company has a market capitalization of $7.21 billion, a P/E ratio of 10.94 and a beta of 0.92. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly 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 during the quarter, compared to the consensus estimate of $839.31 million. During the same quarter in the prior year, the company posted $1.29 earnings per share. Analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a yield of 5.17%. Comerica's dividend payout ratio (DPR) is presently 53.69%.

About Comerica

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.