Townsquare Capital LLC Acquires 256 Shares of Comerica Incorporated (NYSE:CMA)

Townsquare Capital LLC raised its holdings in shares of Comerica Incorporated (NYSE:CMA) by 4.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,811 shares of the financial services provider’s stock after buying an additional 256 shares during the period. Townsquare Capital LLC’s holdings in Comerica were worth $359,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Vermont lifted its holdings in Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 321 shares in the last quarter. Luken Investment Analytics LLC bought a new position in Comerica in the 4th quarter worth $31,000. MCF Advisors LLC increased its stake in Comerica by 56.3% in the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after buying an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Comerica during the third quarter valued at about $42,000. Finally, V Square Quantitative Management LLC boosted its stake in shares of Comerica by 36.7% in the fourth 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 during the period. 80.74% of the stock is currently owned by institutional investors.

Comerica Trading Down 4.2 %

NYSE CMA opened at $50.70 on Tuesday. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45. The company’s 50-day moving average price is $58.55 and its 200-day moving average price is $62.87. The stock has a market cap of $6.65 billion, a PE ratio of 10.10 and a beta of 0.96. 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 (NYSE:CMA) last issued its earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. Comerica had a net margin of 13.98% and a return on equity of 12.04%. The business had revenue of $829.00 million for the quarter, compared to analyst estimates of $839.31 million. During the same period last year, the company posted $1.29 earnings per share. Equities research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.71 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.84 annualized dividend and a dividend yield of 5.60%. Comerica’s payout ratio is currently 56.57%.

Wall Street Analysts Forecast Growth

CMA has been the topic of a number of research analyst reports. Stephens cut Comerica from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $66.00 to $64.00 in a report on Monday, March 31st. Barclays lifted their price target on shares of Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, January 6th. Wells Fargo & Company reduced their target price on Comerica from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. JPMorgan Chase & Co. reduced their price objective on Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Finally, DA Davidson cut their target price on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $68.16.

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.