NorthRock Partners LLC Makes New Investment in Comerica Incorporated (NYSE:CMA)

NorthRock Partners LLC purchased a new position in Comerica Incorporated (NYSE:CMA - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,597 shares of the financial services provider's stock, valued at approximately $408,000.

A number of other institutional investors have also recently made changes to their positions in CMA. Blue Trust Inc. increased its holdings in shares of Comerica by 5.2% in the fourth quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider's stock valued at $242,000 after purchasing an additional 200 shares during the last quarter. Bessemer Group Inc. increased its holdings in shares of Comerica by 2.0% in the fourth quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider's stock valued at $672,000 after purchasing an additional 211 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Comerica by 36.7% in 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. US Bancorp DE grew its position in Comerica by 2.0% in the fourth quarter. US Bancorp DE now owns 11,823 shares of the financial services provider's stock worth $731,000 after acquiring an additional 227 shares during the period. Finally, MCF Advisors LLC grew its position in Comerica by 56.3% in 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 during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Stock Performance

Shares of NYSE:CMA traded down $0.51 during trading hours on Tuesday, hitting $58.09. The stock had a trading volume of 822,239 shares, compared to its average volume of 2,194,054. The stock's fifty day simple moving average is $55.58 and its 200 day simple moving average is $61.99. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. The firm has a market capitalization of $7.63 billion, a price-to-earnings ratio of 11.57 and a beta of 0.92. 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 announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, beating the consensus estimate of $1.14 by $0.11. The company had revenue of $829.00 million for the quarter, compared to analyst estimates of $839.31 million. Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same quarter last year, the business earned $1.29 earnings per share. Sell-side analysts anticipate that Comerica Incorporated will post 5.28 earnings per share 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 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 of this dividend is Friday, June 13th. Comerica's payout ratio is 53.69%.

Analyst Ratings Changes

CMA has been the subject of several analyst reports. Wells Fargo & Company lowered 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. Morgan Stanley lowered Comerica from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $63.00 to $55.00 in a research report on Monday, April 7th. UBS Group upgraded Comerica from a "sell" rating to a "neutral" rating and set a $59.00 price objective for the company in a research report on Thursday, April 10th. Argus upgraded Comerica to a "hold" rating in a research report on Friday, January 31st. Finally, Evercore ISI lowered Comerica from an "in-line" rating to an "underperform" rating and lowered their price objective for the stock from $65.00 to $50.00 in a research 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 assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $63.22.

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.