Meeder Asset Management Inc. Raises Stock Holdings in Comerica Incorporated (NYSE:CMA)

Meeder Asset Management Inc. boosted its holdings in Comerica Incorporated (NYSE:CMA) by 5.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,776 shares of the financial services provider’s stock after buying an additional 491 shares during the quarter. Meeder Asset Management Inc.’s holdings in Comerica were worth $638,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. CWM LLC raised its position in Comerica by 47,467.0% in the 2nd quarter. CWM LLC now owns 201,684 shares of the financial services provider’s stock worth $14,650,000 after buying an additional 201,260 shares during the last quarter. Hancock Whitney Corp raised its position in Comerica by 43.6% in the 1st quarter. Hancock Whitney Corp now owns 132,341 shares of the financial services provider’s stock worth $9,703,000 after buying an additional 40,168 shares during the last quarter. IFM Investors Pty Ltd raised its position in Comerica by 6.5% in the 1st quarter. IFM Investors Pty Ltd now owns 11,240 shares of the financial services provider’s stock worth $824,000 after buying an additional 684 shares during the last quarter. Stephens Inc. AR raised its position in Comerica by 71.8% in the 1st quarter. Stephens Inc. AR now owns 50,469 shares of the financial services provider’s stock worth $3,700,000 after buying an additional 21,098 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. raised its position in Comerica by 0.7% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 840,101 shares of the financial services provider’s stock worth $61,596,000 after buying an additional 5,625 shares during the last quarter. 85.32% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have weighed in on CMA shares. Citigroup lowered Comerica from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $80.00 to $66.00 in a research report on Friday, July 12th. Piper Jaffray Companies set a $91.00 target price on Comerica and gave the stock a “buy” rating in a research report on Tuesday, June 11th. BMO Capital Markets decreased their target price on Comerica to $78.00 and set a “market perform” rating for the company in a research report on Thursday, July 18th. Bank of America lowered Comerica from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $85.00 to $71.00 in a research report on Thursday, July 11th. Finally, Goldman Sachs Group lowered Comerica from a “neutral” rating to a “sell” rating and set a $70.00 target price for the company. in a research report on Tuesday, July 2nd. Six investment analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the stock. Comerica has an average rating of “Hold” and a consensus target price of $84.38.

Comerica stock opened at $62.41 on Thursday. The business has a 50-day simple moving average of $68.27 and a two-hundred day simple moving average of $75.00. The company has a market cap of $9.27 billion, a P/E ratio of 8.62, a P/E/G ratio of 0.55 and a beta of 1.45. Comerica Incorporated has a 52-week low of $59.00 and a 52-week high of $99.77. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.90.

Comerica (NYSE:CMA) last released its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.01 by ($0.07). The firm had revenue of $853.00 million for the quarter, compared to the consensus estimate of $859.09 million. Comerica had a net margin of 33.29% and a return on equity of 16.92%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.87 earnings per share. Research analysts anticipate that Comerica Incorporated will post 7.92 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a dividend of $0.67 per share. The ex-dividend date is Thursday, September 12th. This represents a $2.68 dividend on an annualized basis and a dividend yield of 4.29%. Comerica’s dividend payout ratio (DPR) is presently 37.02%.

Comerica Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services middle market businesses, multinational corporations, and governmental entities.

Further Reading: What is the Quick Ratio?

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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