Comerica Incorporated (NYSE:CMA) Shares Acquired by LSV Asset Management

LSV Asset Management increased its position in Comerica Incorporated (NYSE:CMA - Free Report) by 8.3% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 735,200 shares of the financial services provider's stock after acquiring an additional 56,224 shares during the quarter. LSV Asset Management owned about 0.56% of Comerica worth $41,032,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Raymond James & Associates boosted its position in shares of Comerica by 18.1% during the 4th quarter. Raymond James & Associates now owns 203,324 shares of the financial services provider's stock valued at $11,348,000 after acquiring an additional 31,125 shares during the last quarter. Avaii Wealth Management LLC bought a new stake in shares of Comerica during the 4th quarter valued at about $679,000. NewEdge Wealth LLC bought a new stake in shares of Comerica during the 4th quarter valued at about $10,068,000. Mirae Asset Global Investments Co. Ltd. lifted its position in Comerica by 73.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,771 shares of the financial services provider's stock worth $3,168,000 after buying an additional 23,947 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its position in Comerica by 607.3% in the 3rd quarter. Mackenzie Financial Corp now owns 303,143 shares of the financial services provider's stock worth $12,007,000 after buying an additional 260,286 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Comerica Stock Up 1.6 %

CMA stock traded up $0.86 on Monday, hitting $53.93. 1,836,764 shares of the company's stock were exchanged, compared to its average volume of 2,072,336. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a 50 day moving average price of $51.69 and a two-hundred day moving average price of $50.12. The stock has a market cap of $7.15 billion, a P/E ratio of 10.56 and a beta of 1.27. Comerica Incorporated has a 12-month low of $30.98 and a 12-month high of $57.39.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.16. The business had revenue of $1.26 billion during the quarter, compared to analysts' expectations of $807.57 million. Comerica had a return on equity of 16.51% and a net margin of 13.11%. During the same quarter in the previous year, the firm posted $2.39 EPS. As a group, equities research analysts expect that Comerica Incorporated will post 5.16 EPS for the current fiscal year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.71 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.84 dividend on an annualized basis and a yield of 5.27%. Comerica's payout ratio is 56.46%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CMA shares. Stephens reiterated an "overweight" rating and issued a $64.00 price objective on shares of Comerica in a research report on Friday, April 19th. Morgan Stanley reissued an "equal weight" rating and issued a $53.00 target price on shares of Comerica in a research note on Monday, April 22nd. Keefe, Bruyette & Woods lowered their price target on Comerica from $60.00 to $58.00 and set a "market perform" rating on the stock in a report on Monday, January 22nd. DA Davidson reaffirmed a "neutral" rating and issued a $56.00 price objective on shares of Comerica in a research note on Wednesday, March 6th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Comerica in a research report on Wednesday, April 10th. They set a "hold" rating and a $59.00 target price for the company. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Comerica has an average rating of "Hold" and an average target price of $56.89.

Insiders Place Their Bets

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

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.