Comerica Incorporated (NYSE:CMA) Shares Purchased by Fiduciary Alliance LLC

Fiduciary Alliance LLC increased its position in shares of Comerica Incorporated (NYSE:CMA) by 3.1% during the first quarter, Holdings Channel.com reports. The fund owned 9,784 shares of the financial services provider’s stock after acquiring an additional 298 shares during the quarter. Fiduciary Alliance LLC’s holdings in Comerica were worth $578,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CMA. Blue Trust Inc. boosted its position in 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 during the period. Bessemer Group Inc. raised its stake in shares of Comerica by 2.0% in the 4th quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider’s stock valued at $672,000 after acquiring an additional 211 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Comerica by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 221 shares in the last quarter. US Bancorp DE raised its stake in shares of Comerica by 2.0% in the 4th quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock valued at $731,000 after acquiring an additional 227 shares in the last quarter. Finally, Townsquare Capital LLC increased its position in Comerica by 4.6% in the 4th quarter. Townsquare Capital LLC now owns 5,811 shares of the financial services provider’s stock worth $359,000 after buying an additional 256 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Price Performance

NYSE CMA opened at $57.95 on Wednesday. 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 Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45. The company has a market capitalization of $7.61 billion, a PE ratio of 11.54 and a beta of 0.92. The firm’s 50 day moving average is $55.11 and its 200-day moving average is $61.16.

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

Comerica Announces Dividend

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 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 4.90%. Comerica’s dividend payout ratio (DPR) is 53.69%.

Wall Street Analyst Weigh In

Several brokerages have commented on CMA. Evercore ISI downgraded Comerica from an “in-line” rating to an “underperform” rating and dropped their price target for the stock from $65.00 to $50.00 in a research report on Tuesday, April 22nd. The Goldman Sachs Group reduced their price objective on Comerica from $66.00 to $57.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. UBS Group raised Comerica from a “sell” rating to a “neutral” rating and set a $59.00 price objective on the stock in a research note on Thursday, April 10th. JPMorgan Chase & Co. lowered Comerica from a “neutral” rating to an “underweight” rating and cut their price target for the company from $64.00 to $52.00 in a research note on Tuesday, April 22nd. Finally, Robert W. Baird cut their price target on Comerica from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Six analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company presently has an average 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.