UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Grows Stock Position in Comerica Incorporated (NYSE:CMA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 12.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 472,724 shares of the financial services provider's stock after acquiring an additional 53,039 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.36% of Comerica worth $29,238,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the company. Luken Investment Analytics LLC bought a new stake in shares of Comerica during the fourth quarter worth approximately $31,000. V Square Quantitative Management LLC raised its position in shares of Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 221 shares during the last quarter. Quarry LP lifted its stake in shares of Comerica by 152.0% in the 4th quarter. Quarry LP now owns 867 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 523 shares during the period. Steward Partners Investment Advisory LLC lifted 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 purchasing an additional 533 shares during the period. Finally, Deseret Mutual Benefit Administrators boosted its position in shares of Comerica by 38.9% in the 4th 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 during the last quarter. Institutional investors own 80.74% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CMA. JPMorgan Chase & Co. cut shares of Comerica from a "neutral" rating to an "underweight" rating and lowered their price objective for the company from $64.00 to $52.00 in a research report on Tuesday, April 22nd. Wells Fargo & Company lowered their price objective on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 22nd. Argus raised shares of Comerica to a "hold" rating in a research report on Friday, January 31st. Raymond James decreased their target price on Comerica from $72.00 to $67.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Finally, Stephens lowered shares of Comerica from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $66.00 to $64.00 in a research note on Monday, March 31st. Six analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $62.37.

Comerica Price Performance

Shares of NYSE:CMA traded down $0.35 during trading on Friday, hitting $57.13. 2,003,008 shares of the company were exchanged, compared to its average volume of 2,186,706. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. The company has a market capitalization of $7.51 billion, a P/E ratio of 11.38 and a beta of 0.92. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The business's 50 day moving average is $55.29 and its 200-day moving average is $61.48.

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

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date is Friday, June 13th. Comerica's payout ratio is 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.