Marshall Wace LLP Makes New $9.29 Million Investment in Comerica Incorporated (NYSE:CMA)

Marshall Wace LLP bought a new stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 150,210 shares of the financial services provider's stock, valued at approximately $9,290,000. Marshall Wace LLP owned approximately 0.11% of Comerica at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Sanctuary Advisors LLC raised its stake in Comerica by 17.0% during the third quarter. Sanctuary Advisors LLC now owns 10,095 shares of the financial services provider's stock valued at $605,000 after buying an additional 1,467 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Comerica during the 3rd quarter valued at approximately $42,000. Tidal Investments LLC boosted its holdings in Comerica by 96.2% in the third quarter. Tidal Investments LLC now owns 32,138 shares of the financial services provider's stock worth $1,925,000 after purchasing an additional 15,758 shares during the period. Franklin Resources Inc. increased its stake in Comerica by 9.3% during the third quarter. Franklin Resources Inc. now owns 14,690 shares of the financial services provider's stock valued at $901,000 after purchasing an additional 1,255 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of 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 period. Institutional investors and hedge funds own 80.74% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Stephens downgraded shares of Comerica from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $66.00 to $64.00 in a research report on Monday, March 31st. JPMorgan Chase & Co. cut Comerica from a "neutral" rating to an "underweight" rating and dropped their price target for the stock from $64.00 to $52.00 in a research report on Tuesday, April 22nd. Raymond James reduced their price objective on Comerica from $72.00 to $67.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Robert W. Baird dropped their target price on Comerica from $80.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, The Goldman Sachs Group reduced their price target on shares of Comerica from $66.00 to $57.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Five analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $62.84.

Comerica Price Performance

CMA stock traded down $0.25 during trading hours on Friday, hitting $53.12. 725,340 shares of the stock traded hands, compared to its average volume of 2,218,706. The stock has a 50-day simple moving average of $57.38 and a 200 day simple moving average of $62.70. The company has a market cap of $6.97 billion, a P/E ratio of 10.58 and a beta of 0.96. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.11. The company 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 previous year, the company posted $1.29 EPS. Equities analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 5.35%. The ex-dividend date of this dividend was Friday, March 14th. 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.