Schonfeld Strategic Advisors LLC Boosts Holdings in Comerica Incorporated (NYSE:CMA)

Schonfeld Strategic Advisors LLC grew its holdings in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 49.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 60,399 shares of the financial services provider's stock after purchasing an additional 19,946 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Comerica were worth $3,736,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. PL Capital Advisors LLC boosted its holdings in shares of Comerica by 6,085.0% in the 4th quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider's stock valued at $109,981,000 after acquiring an additional 1,749,438 shares during the last quarter. Jupiter Asset Management Ltd. acquired a new stake in Comerica during the 4th quarter worth about $82,419,000. Norges Bank acquired a new position in shares of Comerica in the 4th quarter valued at about $64,150,000. North Reef Capital Management LP raised its position in Comerica by 15.7% during the fourth quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider's stock valued at $250,492,000 after acquiring an additional 550,000 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Comerica by 548.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 642,400 shares of the financial services provider's stock worth $39,732,000 after buying an additional 543,400 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Comerica Trading Down 0.2 %

CMA stock traded down $0.11 during midday trading on Wednesday, hitting $54.69. 1,540,720 shares of the company's stock were exchanged, compared to its average volume of 2,201,115. Comerica Incorporated has a 1-year low of $45.32 and a 1-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. The stock has a market capitalization of $7.19 billion, a PE ratio of 10.89 and a beta of 0.92. The business has a 50-day simple moving average of $55.91 and a two-hundred day simple moving average of $62.32.

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 for the quarter, beating analysts' consensus estimates of $1.14 by $0.11. The firm had revenue of $829.00 million during 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 business posted $1.29 earnings per share. On average, sell-side analysts predict that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.19%. The ex-dividend date is Friday, June 13th. Comerica's dividend payout ratio is presently 53.69%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CMA shares. JPMorgan Chase & Co. downgraded Comerica from a "neutral" rating to an "underweight" rating and lowered their price target for the stock from $64.00 to $52.00 in a research report on Tuesday, April 22nd. The Goldman Sachs Group dropped their target price on shares of Comerica from $66.00 to $57.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Robert W. Baird reduced their price target on shares of Comerica from $80.00 to $75.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Evercore ISI lowered Comerica from an "in-line" rating to an "underperform" rating and cut their price objective for the stock from $65.00 to $50.00 in a research note on Tuesday, April 22nd. Finally, Argus upgraded Comerica to a "hold" rating in a research report on Friday, January 31st. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $63.22.

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.