Wellington Management Group LLP Acquires Shares of 224,329 Comerica Incorporated (NYSE:CMA)

Wellington Management Group LLP purchased a new stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 224,329 shares of the financial services provider's stock, valued at approximately $13,875,000. Wellington Management Group LLP owned 0.17% of Comerica as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently bought and sold shares of CMA. Blue Trust Inc. increased its holdings in shares of Comerica by 5.2% during the fourth quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider's stock valued at $242,000 after purchasing an additional 200 shares during the period. KBC Group NV boosted its holdings in Comerica by 45.9% during the fourth quarter. KBC Group NV now owns 5,772 shares of the financial services provider's stock worth $357,000 after buying an additional 1,817 shares in the last quarter. Pacer Advisors Inc. acquired a new position in shares of Comerica in the 4th quarter worth $1,184,000. Sylvest Advisors LLC purchased a new position in Comerica in the 4th quarter worth about $614,000. Finally, Boston Trust Walden Corp acquired a new stake in shares of Comerica during the fourth quarter valued at approximately $204,000. 80.74% of the stock is currently owned by institutional investors.

Comerica Trading Up 2.2%

NYSE CMA traded up $1.23 on Tuesday, hitting $57.95. The company's stock had a trading volume of 1,173,824 shares, compared to its average volume of 2,186,759. The company's 50-day moving average is $55.14 and its 200 day moving average is $61.19. The firm has a market cap of $7.61 billion, a PE ratio of 11.54 and a beta of 0.92. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.11. The business had revenue of $829.00 million for the quarter, compared to analysts' expectations of $839.31 million. Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same quarter in the prior year, the firm posted $1.29 earnings per share. As a group, analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current fiscal 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 issued a dividend of $0.71 per share. The ex-dividend date is Friday, June 13th. This represents a $2.84 annualized dividend and a dividend yield of 4.90%. Comerica's dividend payout ratio is currently 53.69%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on CMA shares. Jefferies Financial Group assumed coverage on Comerica in a report on Wednesday, May 21st. They issued an "underperform" rating and a $47.00 target price on the stock. The Goldman Sachs Group reduced their price target on Comerica from $66.00 to $57.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley cut shares of Comerica from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $63.00 to $55.00 in a research note on Monday, April 7th. Robert W. Baird decreased their target price on Comerica from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Finally, Raymond James decreased their price target on shares of Comerica from $72.00 to $67.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $62.37.

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.