LifeWealth Investments LLC Invests $224,000 in Comerica Incorporated (NYSE:CMA)

LifeWealth Investments LLC acquired a new position in shares of Comerica Incorporated (NYSE:CMA) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,615 shares of the financial services provider’s stock, valued at approximately $224,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Blue Trust Inc. boosted its position in Comerica by 5.2% during the fourth quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 200 shares during the last quarter. Bessemer Group Inc. boosted its position in Comerica by 2.0% during 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 boosted its position in Comerica by 36.7% during the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 221 shares during the last quarter. US Bancorp DE boosted its position in Comerica by 2.0% during the fourth quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock valued at $731,000 after purchasing an additional 227 shares during the last quarter. Finally, Townsquare Capital LLC boosted its position in Comerica by 4.6% during the fourth quarter. Townsquare Capital LLC now owns 5,811 shares of the financial services provider’s stock valued at $359,000 after purchasing an additional 256 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Price Performance

Shares of NYSE CMA opened at $56.22 on Tuesday. The firm has a market cap of $7.39 billion, a P/E ratio of 11.20 and a beta of 0.92. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. The business’s 50 day moving average is $55.43 and its 200-day moving average is $61.64.

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

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a yield of 5.05%. Comerica’s dividend payout ratio (DPR) is presently 53.69%.

Wall Street Analyst Weigh In

Several research analysts recently commented on CMA shares. Robert W. Baird reduced their price target on Comerica from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. UBS Group raised Comerica from a “sell” rating to a “neutral” rating and set a $59.00 price target for the company in a research report on Thursday, April 10th. Argus upgraded Comerica to a “hold” rating in a research note on Friday, January 31st. Evercore ISI lowered Comerica from an “in-line” rating to an “underperform” rating and dropped their price objective for the company from $65.00 to $50.00 in a research note on Tuesday, April 22nd. Finally, Morgan Stanley lowered Comerica from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $63.00 to $55.00 in a research note on Monday, April 7th. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $62.37.

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.