Jacobs Levy Equity Management Inc. Grows Holdings in Comerica Incorporated (NYSE:CMA)

Jacobs Levy Equity Management Inc. boosted its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 39.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,396,095 shares of the financial services provider's stock after purchasing an additional 393,507 shares during the quarter. Jacobs Levy Equity Management Inc. owned about 1.06% of Comerica worth $86,348,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of CMA. Trust Co. of Vermont raised its stake in Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 321 shares in the last quarter. Luken Investment Analytics LLC purchased a new position in shares of Comerica during the fourth quarter worth approximately $31,000. MCF Advisors LLC raised its stake in shares of Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock worth $39,000 after acquiring an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Comerica during the third quarter worth approximately $42,000. Finally, V Square Quantitative Management LLC raised its stake in shares of Comerica by 36.7% during the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock worth $51,000 after acquiring an additional 221 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on CMA. Royal Bank of Canada decreased their price target on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley downgraded shares of Comerica from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $63.00 to $55.00 in a research note on Monday, April 7th. Wells Fargo & Company decreased their target price on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 22nd. Evercore ISI downgraded shares of Comerica from an "in-line" rating to an "underperform" rating and decreased their target price for the stock from $65.00 to $50.00 in a research note on Tuesday, April 22nd. Finally, Raymond James decreased their target price on shares of Comerica from $72.00 to $67.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Comerica presently has a consensus rating of "Hold" and a consensus price target of $63.22.

Comerica Trading Down 0.5%

Shares of CMA traded down $0.27 during trading hours on Wednesday, reaching $58.30. 1,133,482 shares of the company traded hands, compared to its average volume of 2,203,848. The company's fifty day moving average price is $55.49 and its two-hundred day moving average price is $62.11. The company has a market capitalization of $7.66 billion, a price-to-earnings ratio of 11.61 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. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45.

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

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.87%. The ex-dividend date is Friday, June 13th. Comerica's dividend payout ratio is presently 53.69%.

Comerica 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.