Jones Financial Companies Lllp Buys 7,408 Shares of Comerica Incorporated (NYSE:CMA)

Jones Financial Companies Lllp lifted its stake in shares of Comerica Incorporated (NYSE:CMA) by 220.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,762 shares of the financial services provider’s stock after acquiring an additional 7,408 shares during the period. Jones Financial Companies Lllp’s holdings in Comerica were worth $666,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Comerica by 134.0% during the 3rd 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. Oppenheimer & Co. Inc. lifted its holdings in shares of Comerica by 158.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 20,324 shares of the financial services provider’s stock worth $1,218,000 after acquiring an additional 12,454 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Comerica by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,306,042 shares of the financial services provider’s stock worth $257,975,000 after acquiring an additional 226,285 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Comerica by 390.6% during the 3rd quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider’s stock worth $45,628,000 after acquiring an additional 606,375 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new stake in Comerica in the third quarter worth $1,905,000. 80.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on CMA shares. Barclays boosted their price target on shares of Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. UBS Group started coverage on shares of Comerica in a research note on Tuesday, December 17th. They issued a “sell” rating and a $64.00 price target for the company. Stephens reissued an “overweight” rating and issued a $72.00 price target on shares of Comerica in a research note on Wednesday, March 5th. JPMorgan Chase & Co. lowered their price target on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, Argus raised shares of Comerica to a “hold” rating in a research note on Friday, January 31st. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $68.67.

Comerica Price Performance

Shares of NYSE CMA opened at $58.34 on Monday. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. 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 company’s 50-day moving average is $64.27 and its 200 day moving average is $63.37. The stock has a market capitalization of $7.66 billion, a P/E ratio of 11.62 and a beta of 1.23.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.05). 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 firm posted $1.46 EPS. On average, sell-side analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.87%. The ex-dividend date is Friday, March 14th. Comerica’s dividend payout ratio (DPR) is presently 56.57%.

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.