Arete Wealth Advisors LLC Buys Shares of 4,786 Comerica Incorporated (NYSE:CMA)

Arete Wealth Advisors LLC purchased a new stake in Comerica Incorporated (NYSE:CMA) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,786 shares of the financial services provider’s stock, valued at approximately $296,000.

Several other large investors have also modified their holdings of the business. Trust Co. of Vermont lifted its stake 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 in the last quarter. Luken Investment Analytics LLC acquired a new position in shares of Comerica in the fourth quarter worth $31,000. MCF Advisors LLC lifted its position in shares of Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Comerica during the third quarter valued at $42,000. Finally, V Square Quantitative Management LLC increased its position in Comerica by 36.7% during the 4th 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 in the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on CMA shares. Wells Fargo & Company reduced their target price on shares of Comerica from $70.00 to $67.00 and set an “equal weight” rating on the stock in a report on Friday, March 28th. JPMorgan Chase & Co. reduced their price objective on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods lowered their target price on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Stephens lowered Comerica from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $66.00 to $64.00 in a research note on Monday, March 31st. Finally, Raymond James lowered their price objective on Comerica from $72.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $67.95.

Comerica Stock Performance

Shares of CMA stock opened at $51.48 on Monday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The company’s fifty day moving average price is $62.28 and its two-hundred day moving average price is $63.57. The firm has a market capitalization of $6.75 billion, a P/E ratio of 10.26 and a beta of 0.96. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 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 in the previous year, the company posted $1.46 earnings per share. On average, research analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.52%. The ex-dividend date was Friday, March 14th. Comerica’s payout ratio is currently 56.57%.

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.