Caisse DE Depot ET Placement DU Quebec Acquires New Stake in Comerica Incorporated (NYSE:CMA)

Caisse DE Depot ET Placement DU Quebec bought a new position in Comerica Incorporated (NYSE:CMA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 250,000 shares of the financial services provider’s stock, valued at approximately $15,462,000. Caisse DE Depot ET Placement DU Quebec owned 0.19% of Comerica at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the company. Wedmont Private Capital grew its holdings in shares of Comerica by 2.4% during the fourth quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock worth $474,000 after buying an additional 186 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Comerica by 5.2% during the 4th quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock worth $242,000 after acquiring an additional 200 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of Comerica by 2.0% in the fourth quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider’s stock valued at $672,000 after purchasing an additional 211 shares during the last quarter. V Square Quantitative Management LLC lifted its position 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 purchasing an additional 221 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in Comerica by 2.0% during the fourth quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock worth $731,000 after purchasing an additional 227 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Comerica Price Performance

Shares of Comerica stock opened at $56.44 on Friday. The company has a 50-day simple moving average of $56.24 and a two-hundred day simple moving average of $62.44. Comerica Incorporated has a twelve month low of $45.32 and a twelve month high of $73.45. The stock has a market capitalization of $7.41 billion, a price-to-earnings ratio of 11.24 and a beta of 0.96. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) 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 analysts’ expectations of $839.31 million. During the same period in the previous year, the company posted $1.29 earnings per share. Analysts forecast that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date is Friday, June 13th. Comerica’s dividend payout ratio (DPR) is presently 53.69%.

Wall Street Analyst Weigh In

CMA has been the subject of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of Comerica from a “neutral” rating to an “underweight” rating and reduced their price objective for the stock from $64.00 to $52.00 in a research note on Tuesday, April 22nd. Royal Bank of Canada decreased their price target on Comerica from $75.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Wells Fargo & Company dropped their price objective on Comerica from $67.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley cut shares of Comerica from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $63.00 to $55.00 in a research note on Monday, April 7th. Finally, Keefe, Bruyette & Woods dropped their price target on shares of Comerica from $77.00 to $68.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $62.84.

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.