NorthRock Partners LLC acquired a new stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,597 shares of the financial services provider's stock, valued at approximately $408,000.
Other large investors also recently added to or reduced their stakes in the company. Trust Co. of Vermont raised its holdings in shares of Comerica by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock valued at $26,000 after acquiring an additional 321 shares in the last quarter. Luken Investment Analytics LLC purchased a new stake in Comerica in the fourth quarter valued at approximately $31,000. MCF Advisors LLC raised its stake in Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 228 shares in the last quarter. V Square Quantitative Management LLC lifted its position in Comerica by 36.7% during the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 221 shares during the last quarter. Finally, Quarry LP grew its stake in Comerica by 152.0% in the 4th quarter. Quarry LP now owns 867 shares of the financial services provider's stock worth $54,000 after buying an additional 523 shares in the last quarter. Institutional investors own 80.74% of the company's stock.
Comerica Trading Up 0.8%
Shares of NYSE CMA traded up $0.43 during midday trading on Thursday, hitting $56.32. 414,431 shares of the company traded hands, compared to its average volume of 2,197,909. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45. The firm has a market cap of $7.40 billion, a P/E ratio of 11.22 and a beta of 0.92. The stock has a 50-day moving average price of $55.56 and a 200 day moving average price of $61.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current 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 for the quarter, topping analysts' consensus estimates of $1.14 by $0.11. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The firm had revenue of $829.00 million for the quarter, compared to the consensus estimate of $839.31 million. During the same quarter in the prior year, the business earned $1.29 EPS. As a group, analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.
Comerica Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be paid a $0.71 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.84 annualized dividend and a yield of 5.04%. Comerica's payout ratio is 53.69%.
Wall Street Analyst Weigh In
CMA has been the topic of several recent research reports. Stephens lowered Comerica from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $66.00 to $64.00 in a research report on Monday, March 31st. JPMorgan Chase & Co. lowered Comerica from a "neutral" rating to an "underweight" rating and cut their target price for the stock from $64.00 to $52.00 in a research note on Tuesday, April 22nd. DA Davidson decreased their price target on shares of Comerica from $71.00 to $67.00 and set a "neutral" rating on the stock in a research note on Thursday, January 23rd. Robert W. Baird lowered their price objective on shares of Comerica from $80.00 to $75.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Finally, Wells Fargo & Company cut their price objective on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 22nd. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $62.37.
Check Out Our Latest Research Report on CMA
About Comerica
(
Free Report)
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.
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