The Manufacturers Life Insurance Company Increases Holdings in Comerica Incorporated (NYSE:CMA)

The Manufacturers Life Insurance Company raised its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 30.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 315,625 shares of the financial services provider's stock after purchasing an additional 74,095 shares during the quarter. The Manufacturers Life Insurance Company owned 0.24% of Comerica worth $19,521,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Trust Co. of Vermont lifted its stake in shares of Comerica by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock valued at $26,000 after buying an additional 321 shares in the last quarter. Luken Investment Analytics LLC bought a new stake in Comerica during the fourth quarter valued at about $31,000. MCF Advisors LLC lifted its position in shares of 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 acquiring an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Comerica in the third quarter worth about $42,000. Finally, V Square Quantitative Management LLC grew its position in shares of Comerica by 36.7% during the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock worth $51,000 after purchasing an additional 221 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CMA has been the subject of several recent analyst reports. Royal Bank of Canada dropped their price target on Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. The Goldman Sachs Group cut their target price on shares of Comerica from $66.00 to $57.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Morgan Stanley downgraded shares of Comerica from an "equal weight" rating to an "underweight" rating and reduced their price target for the company from $63.00 to $55.00 in a report on Monday, April 7th. Wells Fargo & Company dropped their price objective on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Finally, Raymond James reduced their target price on Comerica from $72.00 to $67.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $62.84.

Comerica Trading Down 1.2 %

Comerica stock traded down $0.66 during midday trading on Monday, reaching $55.78. The stock had a trading volume of 1,401,919 shares, compared to its average volume of 2,204,509. Comerica Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45. The company has a fifty day moving average of $56.09 and a 200 day moving average of $62.38. The firm has a market cap of $7.32 billion, a price-to-earnings ratio of 11.11 and a beta of 0.96. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.11. The firm had revenue of $829.00 million during the quarter, compared to analyst estimates of $839.31 million. Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same period last year, the company earned $1.29 EPS. On average, analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date of this dividend is Friday, June 13th. Comerica's payout ratio is presently 53.69%.

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.