111,572 Shares in Comerica Incorporated (NYSE:CMA) Acquired by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new position in shares of Comerica Incorporated (NYSE:CMA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 111,572 shares of the financial services provider’s stock, valued at approximately $6,901,000. Proficio Capital Partners LLC owned about 0.08% of Comerica at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Trust Co. of Vermont boosted its position in Comerica by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after buying an additional 321 shares during the last quarter. Luken Investment Analytics LLC bought a new position in Comerica in the 4th quarter valued at $31,000. MCF Advisors LLC boosted its position in Comerica by 56.3% in the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after buying an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Comerica in the 3rd quarter valued at $42,000. Finally, V Square Quantitative Management LLC boosted its position in 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 buying an additional 221 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Comerica Price Performance

NYSE:CMA opened at $62.66 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The stock’s 50-day simple moving average is $64.53 and its 200 day simple moving average is $63.28. The company has a market cap of $8.23 billion, a P/E ratio of 12.48 and a beta of 1.25. Comerica Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45.

Comerica (NYSE:CMA) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same period last year, the company posted $1.46 earnings per share. As a group, sell-side analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date is Friday, March 14th. Comerica’s dividend payout ratio is currently 56.57%.

Comerica announced that its board has initiated a share repurchase plan on Tuesday, November 5th that authorizes the company to repurchase 10,000,000 outstanding shares. This repurchase authorization authorizes the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

CMA has been the topic of several recent research reports. Compass Point raised their price target on Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Wells Fargo & Company upgraded Comerica from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $51.00 to $73.00 in a research report on Friday, November 15th. JPMorgan Chase & Co. reduced their price target on Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. UBS Group began coverage on Comerica in a research note on Tuesday, December 17th. They set a “sell” rating and a $64.00 price objective on the stock. Finally, DA Davidson dropped their price objective on Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Comerica currently has a consensus rating of “Hold” and a consensus target price of $68.57.

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.