Comerica Incorporated (NYSE:CMA) Shares Acquired by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its position in shares of Comerica Incorporated (NYSE:CMA) by 31.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,322 shares of the financial services provider’s stock after acquiring an additional 26,415 shares during the period. Wells Fargo & Company MN’s holdings in Comerica were worth $6,762,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Prudential PLC bought a new stake in shares of Comerica in the 4th quarter worth approximately $1,875,000. ExodusPoint Capital Management LP boosted its holdings in shares of Comerica by 244.5% during the fourth quarter. ExodusPoint Capital Management LP now owns 257,184 shares of the financial services provider’s stock valued at $15,907,000 after acquiring an additional 182,538 shares during the period. Arete Wealth Advisors LLC bought a new position in shares of Comerica during the fourth quarter worth about $296,000. Geode Capital Management LLC grew its position in shares of Comerica by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 2,214,963 shares of the financial services provider’s stock worth $137,039,000 after acquiring an additional 103,118 shares during the last quarter. Finally, Diametric Capital LP bought a new stake in Comerica in the 4th quarter valued at about $204,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Price Performance

NYSE CMA opened at $52.89 on Friday. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The company has a fifty day simple moving average of $58.88 and a 200 day simple moving average of $62.86. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The company has a market cap of $6.94 billion, a P/E ratio of 10.54 and a beta of 0.96.

Comerica (NYSE:CMA) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 prior year, the firm earned $1.46 EPS. On average, sell-side analysts predict 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. Shareholders of record on Friday, March 14th were given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 5.37%. The ex-dividend date of this dividend was Friday, March 14th. Comerica’s dividend payout ratio is currently 56.57%.

Wall Street Analyst Weigh In

Several research firms have commented on CMA. Royal Bank of Canada decreased their target price on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Argus upgraded Comerica to a “hold” rating in a research report on Friday, January 31st. UBS Group upgraded Comerica from a “sell” rating to a “neutral” rating and set a $59.00 price target for the company in a research report on Thursday, April 10th. DA Davidson lowered their price target on Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Finally, The Goldman Sachs Group downgraded shares of Comerica from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $71.00 in a report on Tuesday, January 7th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Comerica has an average rating of “Hold” and an average price target of $68.16.

Comerica Company 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.