Brevan Howard Capital Management LP Makes New $4.44 Million Investment in Comerica Incorporated (NYSE:CMA)

Brevan Howard Capital Management LP acquired a new stake in shares of Comerica Incorporated (NYSE:CMA) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 71,858 shares of the financial services provider’s stock, valued at approximately $4,444,000.

A number of other hedge funds also recently made changes to their positions in CMA. Dimensional Fund Advisors LP raised its position in Comerica by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,035,820 shares of the financial services provider’s stock valued at $311,464,000 after purchasing an additional 114,072 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Comerica by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider’s stock valued at $274,092,000 after buying an additional 125,514 shares in the last quarter. North Reef Capital Management LP lifted its position in Comerica by 15.7% in the 4th quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider’s stock worth $250,492,000 after buying an additional 550,000 shares during the last quarter. Vaughan Nelson Investment Management L.P. boosted its stake in Comerica by 3.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider’s stock worth $153,462,000 after buying an additional 72,391 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Comerica by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 2,214,963 shares of the financial services provider’s stock valued at $137,039,000 after acquiring an additional 103,118 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on CMA shares. Keefe, Bruyette & Woods lowered their price objective on shares of Comerica from $77.00 to $68.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. JPMorgan Chase & Co. downgraded shares of Comerica from a “neutral” rating to an “underweight” rating and lowered their price target for the stock from $64.00 to $52.00 in a research note on Tuesday, April 22nd. Barclays raised their price objective on Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a research note on Monday, January 6th. UBS Group raised Comerica from a “sell” rating to a “neutral” rating and set a $59.00 target price for the company in a research note on Thursday, April 10th. Finally, Stephens cut Comerica from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $66.00 to $64.00 in a report on Monday, March 31st. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $62.84.

Comerica Stock Performance

Comerica stock opened at $55.78 on Tuesday. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The stock has a market cap of $7.33 billion, a price-to-earnings ratio of 11.11 and a beta of 0.92. The stock’s 50 day simple moving average is $56.09 and its two-hundred day simple moving average is $62.38. 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 (NYSE:CMA) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.11. The company 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 period in the prior year, the firm earned $1.29 earnings per share. As a group, analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a yield of 5.09%. Comerica’s dividend payout ratio (DPR) is currently 53.69%.

Comerica 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.