Natixis Investment Managers International Takes Position in Comerica Incorporated (NYSE:CMA)

Natixis Investment Managers International purchased a new position in shares of Comerica Incorporated (NYSE:CMAFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 19,845 shares of the financial services provider’s stock, valued at approximately $1,108,000.

Several other hedge funds also recently added to or reduced their stakes in CMA. Spire Wealth Management boosted its holdings in shares of Comerica by 95.9% in the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after purchasing an additional 235 shares during the period. Fortitude Family Office LLC purchased a new stake in shares of Comerica in the 4th quarter worth $36,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Comerica during the 4th quarter worth $36,000. FNY Investment Advisers LLC purchased a new position in shares of Comerica during the fourth quarter valued at $50,000. Finally, Cullen Frost Bankers Inc. bought a new stake in shares of Comerica in the fourth quarter valued at about $51,000. 80.74% of the stock is currently owned by institutional investors.

Comerica Trading Down 0.9 %

Shares of CMA traded down $0.45 during mid-day trading on Friday, reaching $48.05. The stock had a trading volume of 1,434,451 shares, compared to its average volume of 1,441,609. Comerica Incorporated has a 52-week low of $37.40 and a 52-week high of $57.39. The firm has a market cap of $6.37 billion, a price-to-earnings ratio of 9.55 and a beta of 1.25. The business’s fifty day moving average is $51.98 and its 200 day moving average is $51.82. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.95.

Comerica (NYSE:CMAGet Free Report) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. Comerica had a return on equity of 16.51% and a net margin of 13.11%. During the same period last year, the company earned $2.39 EPS. On average, sell-side analysts predict that Comerica Incorporated will post 5.19 EPS for the current fiscal year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.71 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.84 annualized dividend and a dividend yield of 5.91%. Comerica’s dividend payout ratio is presently 56.46%.

Wall Street Analyst Weigh In

A number of research firms have commented on CMA. Jefferies Financial Group cut their target price on shares of Comerica from $65.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, April 8th. The Goldman Sachs Group lowered their target price on shares of Comerica from $69.00 to $62.00 and set a “buy” rating for the company in a research note on Tuesday. DA Davidson reiterated a “neutral” rating and set a $56.00 price objective on shares of Comerica in a report on Wednesday, March 6th. Deutsche Bank Aktiengesellschaft started coverage on Comerica in a research report on Wednesday, April 10th. They set a “hold” rating and a $59.00 target price on the stock. Finally, Stephens reissued an “overweight” rating and issued a $64.00 price target on shares of Comerica in a report on Thursday, May 23rd. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $56.50.

View Our Latest Stock Analysis on CMA

Insider Buying and Selling

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of the business’s stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total value of $382,381.89. Following the completion of the transaction, the executive vice president now owns 7,236 shares in the company, valued at $380,541.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is owned by corporate insiders.

Comerica Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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