Comerica Incorporated (NYSE:CMA) Shares Acquired by Graham Capital Management L.P.

Graham Capital Management L.P. raised its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 649.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,748 shares of the financial services provider's stock after acquiring an additional 49,179 shares during the period. Graham Capital Management L.P.'s holdings in Comerica were worth $3,510,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Independent Advisor Alliance acquired a new stake in Comerica during the fourth quarter valued at approximately $206,000. Bank of Nova Scotia acquired a new stake in shares of Comerica in the fourth quarter valued at approximately $1,320,000. Jupiter Asset Management Ltd. acquired a new stake in Comerica in the 4th quarter valued at approximately $82,419,000. Franklin Resources Inc. raised its stake in shares of Comerica by 251.1% during the fourth 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 in the last quarter. Finally, Jones Financial Companies Lllp grew its position in Comerica by 220.9% in the 4th quarter. Jones Financial Companies Lllp now owns 10,762 shares of the financial services provider's stock valued at $666,000 after buying an additional 7,408 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. JPMorgan Chase & Co. cut shares of Comerica from a "neutral" rating to an "underweight" rating and reduced their target price for the stock from $64.00 to $52.00 in a report on Tuesday, April 22nd. Argus upgraded Comerica to a "hold" rating in a research note on Friday, January 31st. DA Davidson decreased their target price on Comerica from $71.00 to $67.00 and set a "neutral" rating for the company in a research report on Thursday, January 23rd. Wells Fargo & Company cut their price objective on Comerica from $67.00 to $55.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 22nd. Finally, Truist Financial reduced their price target on shares of Comerica from $65.00 to $57.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $63.22.

Comerica Stock Performance

NYSE CMA traded up $0.79 during trading hours on Friday, hitting $58.87. The company's stock had a trading volume of 532,302 shares, compared to its average volume of 2,191,531. 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 Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45. The company has a market cap of $7.74 billion, a P/E ratio of 11.74 and a beta of 0.92. The company's 50 day simple moving average is $55.53 and its two-hundred day simple moving average is $62.08.

Comerica (NYSE:CMA - Get Free Report) last announced 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. Comerica had a net margin of 13.98% and a return on equity of 12.04%. The firm had revenue of $829.00 million during the quarter, compared to the consensus estimate of $839.31 million. During the same quarter last year, the firm earned $1.29 EPS. As a group, sell-side analysts expect that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a yield of 4.82%. Comerica's dividend payout ratio is presently 53.69%.

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.