Wellington Management Group LLP Takes Position in Comerica Incorporated (NYSE:CMA)

Wellington Management Group LLP bought a new position in Comerica Incorporated (NYSE:CMA) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 224,329 shares of the financial services provider’s stock, valued at approximately $13,875,000. Wellington Management Group LLP owned about 0.17% of Comerica at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CMA. Trust Co. of Vermont grew its position in shares of Comerica by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after buying an additional 321 shares during the last quarter. Luken Investment Analytics LLC bought a new stake in Comerica in the fourth quarter valued at $31,000. MCF Advisors LLC increased its position in Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 228 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Comerica during the 3rd quarter valued at $42,000. Finally, V Square Quantitative Management LLC raised its holdings 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 worth $51,000 after purchasing an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CMA shares. Keefe, Bruyette & Woods cut their target price on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Compass Point lifted their price objective on Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Barclays increased their target price on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Wells Fargo & Company dropped their price target on Comerica from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Friday, March 28th. Finally, Royal Bank of Canada decreased their price objective on Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Comerica currently has a consensus rating of “Hold” and an average target price of $67.95.

Comerica Stock Performance

CMA stock opened at $50.25 on Wednesday. The stock’s 50 day simple moving average is $61.48 and its 200 day simple moving average is $63.33. The company has a current ratio of 0.97, a quick 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 stock has a market capitalization of $6.59 billion, a PE ratio of 10.01 and a beta of 0.96.

Comerica (NYSE:CMA) last announced its quarterly 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 in the prior year, the company earned $1.46 EPS. As a group, research analysts forecast 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 paid a $0.71 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.65%. Comerica’s dividend payout ratio is presently 56.57%.

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.