Comerica Incorporated $CMA Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in Comerica Incorporated (NYSE:CMA) by 3.0% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 2,579,763 shares of the financial services provider’s stock after buying an additional 73,971 shares during the quarter. Geode Capital Management LLC owned 2.01% of Comerica worth $153,905,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Allianz Asset Management GmbH raised its holdings in Comerica by 2.1% in the first quarter. Allianz Asset Management GmbH now owns 321,743 shares of the financial services provider’s stock valued at $19,002,000 after acquiring an additional 6,684 shares in the last quarter. Oak Thistle LLC purchased a new stake in shares of Comerica in the 1st quarter valued at approximately $652,000. Avantax Advisory Services Inc. raised its holdings in shares of Comerica by 5.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 4,654 shares of the financial services provider’s stock valued at $275,000 after purchasing an additional 257 shares in the last quarter. LPL Financial LLC lifted its position in shares of Comerica by 6.5% during the 1st quarter. LPL Financial LLC now owns 49,654 shares of the financial services provider’s stock worth $2,933,000 after purchasing an additional 3,034 shares during the last quarter. Finally, TCW Group Inc. grew its stake in shares of Comerica by 30.1% during the first quarter. TCW Group Inc. now owns 23,031 shares of the financial services provider’s stock worth $1,360,000 after purchasing an additional 5,330 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Cowen began coverage on Comerica in a report on Wednesday, September 24th. They set a “hold” rating for the company. Keefe, Bruyette & Woods restated a “market perform” rating and set a $93.00 target price (up previously from $73.00) on shares of Comerica in a research note on Friday, October 10th. Cantor Fitzgerald started coverage on shares of Comerica in a research note on Wednesday, September 10th. They issued a “neutral” rating and a $72.00 price target on the stock. Jefferies Financial Group raised their price objective on shares of Comerica from $75.00 to $85.00 and gave the stock a “hold” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings cut shares of Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. Three analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $74.55.

Comerica Price Performance

Shares of NYSE CMA opened at $76.15 on Wednesday. The stock has a market cap of $9.73 billion, a P/E ratio of 14.53 and a beta of 1.04. Comerica Incorporated has a twelve month low of $48.12 and a twelve month high of $83.22. The stock has a 50 day moving average of $74.72 and a two-hundred day moving average of $66.81. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77.

Comerica (NYSE:CMA) last announced its earnings results on Monday, December 9th. The financial services provider reported $1.53 EPS for the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. The business had revenue of $824.00 million for the quarter. On average, research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Monday, December 15th will be paid a $0.71 dividend. The ex-dividend date is Monday, December 15th. This represents a $2.84 dividend on an annualized basis and a yield of 3.7%. Comerica’s payout ratio is currently 54.20%.

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.