108,763 Shares in Comerica Incorporated (NYSE:CMA) Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC purchased a new position in shares of Comerica Incorporated (NYSE:CMA - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 108,763 shares of the financial services provider's stock, valued at approximately $6,070,000. Los Angeles Capital Management LLC owned approximately 0.08% of Comerica as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CMA. Bison Wealth LLC increased its stake in Comerica by 1.7% in the fourth quarter. Bison Wealth LLC now owns 11,653 shares of the financial services provider's stock valued at $650,000 after purchasing an additional 196 shares in the last quarter. Fruth Investment Management raised its stake in Comerica by 1.6% during the 4th quarter. Fruth Investment Management now owns 13,090 shares of the financial services provider's stock worth $730,000 after buying an additional 200 shares during the period. Yousif Capital Management LLC boosted its holdings in Comerica by 2.8% in the fourth quarter. Yousif Capital Management LLC now owns 7,918 shares of the financial services provider's stock worth $442,000 after acquiring an additional 219 shares in the last quarter. Venturi Wealth Management LLC grew its stake in Comerica by 26.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,407 shares of the financial services provider's stock valued at $79,000 after acquiring an additional 296 shares during the period. Finally, D.A. Davidson & CO. increased its holdings in shares of Comerica by 2.5% during the third quarter. D.A. Davidson & CO. now owns 12,525 shares of the financial services provider's stock valued at $520,000 after acquiring an additional 300 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Comerica Stock Performance

Comerica stock traded up $1.20 during mid-day trading on Friday, reaching $53.07. The company's stock had a trading volume of 1,914,592 shares, compared to its average volume of 1,788,897. Comerica Incorporated has a 12-month low of $28.40 and a 12-month high of $57.39. The firm's fifty day moving average price is $51.69 and its two-hundred day moving average price is $50.06. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.94 and a current ratio of 0.95. The company has a market capitalization of $7.04 billion, a P/E ratio of 10.55 and a beta of 1.27.

Comerica (NYSE:CMA - Get Free Report) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.16. The company had revenue of $1.26 billion for the quarter, compared to analyst estimates of $807.57 million. Comerica had a return on equity of 16.51% and a net margin of 13.11%. During the same period in the previous year, the company posted $2.39 EPS. Sell-side analysts predict that Comerica Incorporated will post 5.16 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $0.71 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.35%. Comerica's dividend payout ratio (DPR) is currently 56.46%.

Insider Buying and Selling

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of the firm's stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total value of $382,381.89. Following the completion of the transaction, the executive vice president now directly owns 7,236 shares of the company's stock, valued at approximately $380,541.24. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, EVP Cassandra M. Mckinney sold 7,271 shares of Comerica stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total transaction of $382,381.89. Following the completion of the sale, the executive vice president now owns 7,236 shares in the company, valued at approximately $380,541.24. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Wendy Bridges sold 3,034 shares of the company's stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the transaction, the executive vice president now owns 17,460 shares in the company, valued at $920,840.40. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on the stock. Raymond James lowered shares of Comerica from an "outperform" rating to a "market perform" rating in a research note on Monday, January 22nd. Bank Of America (Bofa) raised their price target on shares of Comerica from $52.00 to $55.00 and gave the company a "neutral" rating in a research report on Thursday, January 18th. Stephens reissued an "overweight" rating and set a $64.00 price objective on shares of Comerica in a report on Friday, April 19th. Morgan Stanley reissued an "equal weight" rating and issued a $53.00 price objective on shares of Comerica in a research note on Monday, April 22nd. Finally, UBS Group dropped their price target on shares of Comerica from $59.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, April 19th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average price target of $56.98.

Comerica Company 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.