UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 53,039 Shares of Comerica Incorporated (NYSE:CMA)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Comerica Incorporated (NYSE:CMA) by 12.6% during the 4th quarter, Holdings Channel reports. The firm owned 472,724 shares of the financial services provider’s stock after acquiring an additional 53,039 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Comerica were worth $29,238,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Luken Investment Analytics LLC bought a new position in shares of Comerica in the fourth quarter worth approximately $31,000. V Square Quantitative Management LLC grew its holdings 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 during the last quarter. Quarry LP grew its holdings in shares of Comerica by 152.0% in the fourth quarter. Quarry LP now owns 867 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 523 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Comerica by 64.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,362 shares of the financial services provider’s stock worth $84,000 after purchasing an additional 533 shares during the last quarter. Finally, Deseret Mutual Benefit Administrators grew its holdings in shares of Comerica by 38.9% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,453 shares of the financial services provider’s stock worth $90,000 after purchasing an additional 407 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Comerica Stock Performance

Shares of CMA stock opened at $56.22 on Tuesday. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45. The stock has a market cap of $7.39 billion, a PE 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. The company’s fifty day moving average price is $55.43 and its 200-day moving average price is $61.64.

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

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 5.05%. 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

Several research analysts have recently issued reports on CMA shares. Stephens cut shares of Comerica from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $66.00 to $64.00 in a report on Monday, March 31st. Evercore ISI cut shares of Comerica from an “in-line” rating to an “underperform” rating and cut their price target for the company from $65.00 to $50.00 in a report on Tuesday, April 22nd. Wells Fargo & Company cut their price target on shares of Comerica from $67.00 to $55.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Argus upgraded shares of Comerica to a “hold” rating in a report on Friday, January 31st. Finally, The Goldman Sachs Group cut their price target 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. Six analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $62.37.

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.