LPL Financial LLC increased its stake in Comerica Incorporated (NYSE:CMA – Free Report) by 16.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 46,620 shares of the financial services provider’s stock after buying an additional 6,699 shares during the quarter. LPL Financial LLC’s holdings in Comerica were worth $2,883,000 as of its most recent filing with the SEC.
Several other hedge funds have also modified their holdings of CMA. PL Capital Advisors LLC increased its stake in Comerica by 6,085.0% during the 4th quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider’s stock worth $109,981,000 after buying an additional 1,749,438 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in shares of Comerica during the fourth quarter valued at about $82,419,000. JPMorgan Chase & Co. increased its position in shares of Comerica by 134.0% during the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock worth $51,309,000 after acquiring an additional 490,468 shares during the last quarter. Retirement Systems of Alabama acquired a new position in shares of Comerica in the fourth quarter worth about $9,890,000. Finally, Raymond James Financial Inc. purchased a new position in Comerica in the fourth quarter valued at about $7,787,000. 80.74% of the stock is currently owned by hedge funds and other institutional investors.
Comerica Price Performance
Shares of NYSE CMA opened at $50.83 on Friday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The firm has a market capitalization of $6.67 billion, a PE ratio of 10.13 and a beta of 0.96. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. The business’s fifty day moving average price is $60.35 and its two-hundred day moving average price is $63.12.
Comerica (NYSE:CMA – Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter in the prior year, the business posted $1.46 EPS. On average, research analysts expect that Comerica Incorporated will post 5.28 EPS for the current year.
Comerica Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.59%. Comerica’s dividend payout ratio (DPR) is presently 56.57%.
Wall Street Analysts Forecast Growth
Several equities research analysts have issued reports on the company. Wells Fargo & Company dropped their price objective on Comerica from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. Raymond James dropped their price target on shares of Comerica from $72.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. Royal Bank of Canada reduced their price objective on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. JPMorgan Chase & Co. dropped their target price on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Finally, Morgan Stanley lowered shares of Comerica from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $63.00 to $55.00 in a research note on Monday, April 7th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, Comerica presently has an average rating of “Hold” and an average target price of $68.16.
Get Our Latest Stock Report on Comerica
Comerica Profile
(Free Report)
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.
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