Comerica Incorporated (NYSE:CMA) Position Increased by First Trust Advisors LP

First Trust Advisors LP grew its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 19.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,813,377 shares of the financial services provider's stock after purchasing an additional 298,974 shares during the quarter. First Trust Advisors LP owned approximately 1.38% of Comerica worth $112,157,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CMA. JPMorgan Chase & Co. boosted its holdings in Comerica by 134.0% during the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider's stock worth $51,309,000 after purchasing an additional 490,468 shares during the last quarter. Independent Advisor Alliance acquired a new position in Comerica in the 4th quarter valued at $206,000. Jupiter Asset Management Ltd. acquired a new stake in Comerica in the 4th quarter worth about $82,419,000. Bank of Nova Scotia bought a new stake in shares of Comerica in the fourth quarter valued at approximately $1,320,000. Finally, Franklin Resources Inc. grew its holdings 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 worth $3,190,000 after purchasing an additional 36,883 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on CMA shares. Evercore ISI cut Comerica from an "in-line" rating to an "underperform" rating and lowered their target price for the stock from $65.00 to $50.00 in a report on Tuesday. JPMorgan Chase & Co. lowered Comerica from a "neutral" rating to an "underweight" rating and cut their target price for the company from $64.00 to $52.00 in a research report on Tuesday. Argus raised Comerica to a "hold" rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods cut their target price on Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a research report on Tuesday. Finally, UBS Group raised Comerica from a "sell" rating to a "neutral" rating and set a $59.00 target price for the company in a research report on Thursday, April 10th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Comerica currently has an average rating of "Hold" and a consensus target price of $62.84.

Comerica Stock Performance

Shares of NYSE:CMA traded down $0.25 during trading on Friday, reaching $53.12. The company had a trading volume of 725,340 shares, compared to its average volume of 2,213,733. The firm has a market capitalization of $6.97 billion, a price-to-earnings ratio of 10.58 and a beta of 0.96. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The stock's fifty day moving average price is $57.38 and its 200 day moving average price is $62.65. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97.

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

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.71 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.84 annualized dividend and a yield of 5.35%. Comerica's dividend payout ratio is currently 56.57%.

Comerica Company 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.