State of Tennessee Department of Treasury Has $3.58 Million Stake in Comerica Incorporated (NYSE:CMA)

State of Tennessee Department of Treasury lifted its holdings in Comerica Incorporated (NYSE:CMA) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,917 shares of the financial services provider’s stock after acquiring an additional 940 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Comerica were worth $3,582,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Comerica during the third quarter worth $42,000. Tidal Investments LLC grew its holdings in Comerica by 96.2% during the 3rd quarter. Tidal Investments LLC now owns 32,138 shares of the financial services provider’s stock worth $1,925,000 after acquiring an additional 15,758 shares during the last quarter. Franklin Resources Inc. grew its holdings in Comerica by 9.3% during the 3rd quarter. Franklin Resources Inc. now owns 14,690 shares of the financial services provider’s stock worth $901,000 after acquiring an additional 1,255 shares during the last quarter. JPMorgan Chase & Co. increased its position in Comerica by 134.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock valued at $51,309,000 after acquiring an additional 490,468 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Comerica by 8.9% during the fourth quarter. GAMMA Investing LLC now owns 6,084 shares of the financial services provider’s stock worth $376,000 after purchasing an additional 499 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CMA shares. Royal Bank of Canada lowered their target price on Comerica from $75.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Barclays raised their target price on shares of Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. Morgan Stanley cut shares of Comerica from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $63.00 to $55.00 in a research note on Monday, April 7th. Keefe, Bruyette & Woods reduced their price target on Comerica from $77.00 to $68.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Finally, Robert W. Baird dropped their price objective on Comerica from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Comerica presently has a consensus rating of “Hold” and an average price target of $62.84.

Comerica Stock Down 0.5 %

Comerica stock opened at $53.12 on Friday. The company has a fifty day simple moving average of $57.38 and a 200 day simple moving average of $62.67. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. The company has a market cap of $6.97 billion, a P/E ratio of 10.58 and a beta of 0.96.

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

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 5.35%. The ex-dividend date of this dividend was Friday, March 14th. Comerica’s dividend payout ratio (DPR) is currently 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.