Graham Capital Management L.P. Buys 49,179 Shares of Comerica Incorporated (NYSE:CMA)

Graham Capital Management L.P. raised its holdings 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 & Exchange Commission. The fund owned 56,748 shares of the financial services provider's stock after buying an additional 49,179 shares during the quarter. Graham Capital Management L.P.'s holdings in Comerica were worth $3,510,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of CMA. Independent Advisor Alliance bought a new position in shares of Comerica during the 4th quarter worth about $206,000. Bank of Nova Scotia acquired a new stake in Comerica during the fourth quarter worth about $1,320,000. Jupiter Asset Management Ltd. bought a new position in Comerica during the fourth quarter valued at about $82,419,000. Franklin Resources Inc. raised its holdings in Comerica by 251.1% in the 4th quarter. Franklin Resources Inc. now owns 51,573 shares of the financial services provider's stock valued at $3,190,000 after acquiring an additional 36,883 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its position in shares of Comerica by 220.9% in the 4th quarter. Jones Financial Companies Lllp now owns 10,762 shares of the financial services provider's stock worth $666,000 after acquiring an additional 7,408 shares during the period. 80.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CMA shares. UBS Group upgraded Comerica from a "sell" rating to a "neutral" rating and set a $59.00 target price for the company in a research note on Thursday, April 10th. Argus raised shares of Comerica to a "hold" rating in a report on Friday, January 31st. Raymond James reduced their price objective on shares of Comerica from $72.00 to $67.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Truist Financial lowered their target price on shares of Comerica from $65.00 to $57.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Finally, Morgan Stanley lowered shares of Comerica from an "equal weight" rating to an "underweight" rating and dropped their price target for the stock from $63.00 to $55.00 in a research report on Monday, April 7th. Five research 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 data from MarketBeat.com, Comerica has an average rating of "Hold" and a consensus price target of $63.22.

Comerica Trading Down 0.2%

CMA stock traded down $0.14 during midday trading on Thursday, hitting $58.08. 706,817 shares of the company's stock were exchanged, compared to its average volume of 2,044,438. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market cap of $7.63 billion, a PE ratio of 11.57 and a beta of 0.92. The stock's fifty day moving average price is $55.49 and its 200-day moving average price is $62.11.

Comerica (NYSE:CMA - Get Free Report) last released its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, beating the consensus estimate 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 return on equity of 12.04% and a net margin of 13.98%. During the same quarter in the previous year, the business posted $1.29 EPS. Research analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company 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 4.89%. The ex-dividend date is Friday, June 13th. 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.