Comerica Incorporated (NYSE:CMA) Shares Acquired by Sterling Capital Management LLC

Sterling Capital Management LLC increased its position in shares of Comerica Incorporated (NYSE:CMA) by 160.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,157 shares of the financial services provider’s stock after acquiring an additional 8,103 shares during the quarter. Sterling Capital Management LLC’s holdings in Comerica were worth $814,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Trust Co. of Vermont boosted its stake in Comerica by 300.0% during the fourth 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 period. Luken Investment Analytics LLC purchased a new position in shares of Comerica during the 4th quarter worth approximately $31,000. MCF Advisors LLC increased its holdings 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 purchasing an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Comerica in the third quarter valued at approximately $42,000. Finally, V Square Quantitative Management LLC lifted its stake in Comerica by 36.7% during the fourth 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.

Comerica Price Performance

CMA opened at $52.59 on Thursday. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The company’s 50 day simple moving average is $59.43 and its 200 day simple moving average is $62.95. The stock has a market capitalization of $6.90 billion, a PE ratio of 10.48 and a beta of 0.96. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97.

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

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.84 annualized dividend and a dividend yield of 5.40%. Comerica’s payout ratio is currently 56.57%.

Analyst Ratings Changes

Several research firms recently issued reports on CMA. Stephens downgraded Comerica from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $66.00 to $64.00 in a report on Monday, March 31st. Barclays boosted their price target on shares of Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. Wells Fargo & Company dropped their price objective on shares of Comerica from $70.00 to $67.00 and set an “equal weight” rating for the company in a report on Friday, March 28th. Raymond James decreased their price target on shares of Comerica from $72.00 to $67.00 and set an “outperform” rating for the company in a research report on Wednesday, April 2nd. Finally, Royal Bank of Canada decreased their target price on Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Comerica presently has an average rating of “Hold” and a consensus price target of $68.16.

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.