Tower Research Capital LLC TRC Increases Stock Position in Comerica Incorporated (NYSE:CMA)

Tower Research Capital LLC TRC increased its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 396.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,800 shares of the financial services provider's stock after purchasing an additional 12,618 shares during the period. Tower Research Capital LLC TRC's holdings in Comerica were worth $977,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of CMA. Trust Co. of Vermont grew its stake in 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 acquiring an additional 321 shares in the last quarter. Luken Investment Analytics LLC acquired a new position in shares of Comerica in the 4th quarter valued at $31,000. 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 valued at $39,000 after acquiring an additional 228 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Comerica during the 3rd quarter worth about $42,000. Finally, V Square Quantitative Management LLC boosted its holdings in shares of Comerica by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock worth $51,000 after acquiring an additional 221 shares in the last quarter. Institutional investors own 80.74% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wells Fargo & Company cut their target price on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 22nd. DA Davidson dropped their target price on shares of Comerica from $71.00 to $67.00 and set a "neutral" rating on the stock in a report on Thursday, January 23rd. Royal Bank of Canada cut their target price on Comerica from $75.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. UBS Group raised shares of Comerica from a "sell" rating to a "neutral" rating and set a $59.00 target price for the company in a report on Thursday, April 10th. Finally, Truist Financial reduced their price target on Comerica from $65.00 to $57.00 and set a "hold" rating for the company in a research note on Tuesday, April 22nd. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Comerica presently has a consensus rating of "Hold" and an average price target of $62.84.

Comerica Trading Up 1.4 %

NYSE:CMA traded up $0.76 during midday trading on Thursday, reaching $54.51. 191,559 shares of the stock traded hands, compared to its average volume of 2,202,657. The company has a fifty day moving average of $56.61 and a 200 day moving average of $62.53. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45. The stock has a market capitalization of $7.15 billion, a P/E ratio of 10.88 and a beta of 0.96. 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 earnings per share (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 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 company earned $1.29 earnings per share. On average, research analysts predict that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 5.21%. The ex-dividend date of this dividend is Friday, June 13th. Comerica's payout ratio is 53.69%.

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.