Tudor Investment Corp ET AL Boosts Stock Position in Comerica Incorporated (NYSE:CMA)

Tudor Investment Corp ET AL raised its holdings in Comerica Incorporated (NYSE:CMA) by 74.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 133,344 shares of the financial services provider’s stock after buying an additional 56,788 shares during the period. Tudor Investment Corp ET AL’s holdings in Comerica were worth $8,247,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. JPMorgan Chase & Co. raised its holdings in Comerica by 134.0% in the third 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. Independent Advisor Alliance bought a new stake in shares of Comerica in the 4th quarter worth about $206,000. Bank of Nova Scotia bought a new stake in shares of Comerica in the 4th quarter worth about $1,320,000. Jupiter Asset Management Ltd. acquired a new stake in shares of Comerica in the 4th quarter valued at about $82,419,000. Finally, Franklin Resources Inc. lifted its position in shares of Comerica by 251.1% during the fourth quarter. Franklin Resources Inc. now owns 51,573 shares of the financial services provider’s stock worth $3,190,000 after purchasing an additional 36,883 shares during the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Comerica Price Performance

NYSE CMA opened at $54.18 on Wednesday. The firm has a market capitalization of $7.11 billion, a PE ratio of 10.79 and a beta of 0.96. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45. The company’s 50 day simple moving average is $56.84 and its 200 day simple moving average is $62.59.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, beating 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 business had revenue of $829.00 million during the quarter, compared to analyst estimates of $839.31 million. During the same quarter in the prior year, the firm posted $1.29 earnings per share. As a group, equities research analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend is Friday, June 13th. Comerica’s dividend payout ratio is presently 53.69%.

Wall Street Analysts Forecast Growth

CMA has been the topic of a number of research analyst reports. Robert W. Baird reduced their target price on Comerica from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Argus upgraded Comerica to a “hold” rating in a research note on Friday, January 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. The Goldman Sachs Group cut their target price on shares of Comerica from $66.00 to $57.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Finally, UBS Group raised Comerica from a “sell” rating to a “neutral” rating and set a $59.00 target price for the company in a report on Thursday, April 10th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Comerica presently has an average rating of “Hold” and an average target price of $62.84.

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.