Schonfeld Strategic Advisors LLC Has $3.74 Million Holdings in Comerica Incorporated (NYSE:CMA)

Schonfeld Strategic Advisors LLC grew its holdings in Comerica Incorporated (NYSE:CMA) by 49.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,399 shares of the financial services provider’s stock after buying an additional 19,946 shares during the period. Schonfeld Strategic Advisors LLC’s holdings in Comerica were worth $3,736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new position in Comerica during the third quarter worth $42,000. Tidal Investments LLC lifted its stake in shares of Comerica by 96.2% during the 3rd quarter. Tidal Investments LLC now owns 32,138 shares of the financial services provider’s stock worth $1,925,000 after buying an additional 15,758 shares during the last quarter. Franklin Resources Inc. boosted its holdings in shares of Comerica by 9.3% during the 3rd quarter. Franklin Resources Inc. now owns 14,690 shares of the financial services provider’s stock worth $901,000 after buying an additional 1,255 shares during the period. JPMorgan Chase & Co. grew its stake in Comerica by 134.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock valued at $51,309,000 after buying an additional 490,468 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in Comerica by 8.9% in the 4th quarter. GAMMA Investing LLC now owns 6,084 shares of the financial services provider’s stock valued at $376,000 after acquiring an additional 499 shares during the period. 80.74% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CMA has been the topic of several research reports. Evercore ISI downgraded Comerica from an “in-line” rating to an “underperform” rating and decreased their target price for the company from $65.00 to $50.00 in a research report on Tuesday, April 22nd. Wells Fargo & Company decreased their price objective on Comerica from $67.00 to $55.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Barclays lifted their target price on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. UBS Group upgraded shares of Comerica from a “sell” rating to a “neutral” rating and set a $59.00 price target on the stock in a research note on Thursday, April 10th. Finally, JPMorgan Chase & Co. cut shares of Comerica from a “neutral” rating to an “underweight” rating and dropped their price objective for the stock from $64.00 to $52.00 in a research note on Tuesday, April 22nd. Five 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. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $62.84.

Comerica Trading Up 3.6 %

Shares of CMA stock opened at $56.44 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The company has a market cap of $7.41 billion, a PE ratio of 11.24 and a beta of 0.96. The stock’s fifty day moving average price is $56.24 and its two-hundred day moving average price is $62.44.

Comerica (NYSE:CMA) last released its earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.11. The firm had revenue of $829.00 million for the quarter, compared to analysts’ expectations of $839.31 million. Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter in the previous year, the business posted $1.29 earnings per share. Equities analysts predict that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 5.03%. The ex-dividend date of this dividend is Friday, June 13th. Comerica’s payout ratio is 53.69%.

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.