Comerica Incorporated (NYSE:CMA) Shares Bought by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp raised its holdings in shares of Comerica Incorporated (NYSE:CMA) by 1.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 27,398 shares of the financial services provider’s stock after buying an additional 287 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Comerica were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in Comerica by 4.9% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,688 shares of the financial services provider’s stock valued at $333,000 after acquiring an additional 221 shares during the period. Parallel Advisors LLC lifted its stake in Comerica by 12.0% during the 2nd quarter. Parallel Advisors LLC now owns 2,135 shares of the financial services provider’s stock valued at $90,000 after acquiring an additional 229 shares during the period. Advisory Services Network LLC lifted its stake in Comerica by 3.5% during the 1st quarter. Advisory Services Network LLC now owns 7,266 shares of the financial services provider’s stock valued at $657,000 after acquiring an additional 246 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in shares of Comerica by 12.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,262 shares of the financial services provider’s stock valued at $151,000 after purchasing an additional 247 shares during the period. Finally, Covestor Ltd lifted its stake in shares of Comerica by 28.7% in the 1st quarter. Covestor Ltd now owns 1,147 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 256 shares during the period. 81.94% of the stock is currently owned by institutional investors and hedge funds.

Comerica Trading Up 2.0 %

Shares of CMA stock opened at $45.23 on Friday. The company’s 50-day moving average price is $41.54 and its 200-day moving average price is $43.43. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 1.32. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 5.13, a PEG ratio of 1.39 and a beta of 1.25. Comerica Incorporated has a twelve month low of $28.40 and a twelve month high of $77.34.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Friday, October 20th. The financial services provider reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.15. The firm had revenue of $1.40 billion for the quarter, compared to analysts’ expectations of $880.88 million. Comerica had a net margin of 23.12% and a return on equity of 23.66%. During the same quarter in the previous year, the company posted $2.60 EPS. As a group, equities analysts predict that Comerica Incorporated will post 7.6 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 15th will be given a dividend of $0.71 per share. The ex-dividend date is Thursday, December 14th. This represents a $2.84 annualized dividend and a dividend yield of 6.28%. Comerica’s payout ratio is 32.20%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on CMA shares. Royal Bank of Canada decreased their target price on shares of Comerica from $54.00 to $50.00 and set an “outperform” rating for the company in a research note on Monday, October 23rd. Odeon Capital Group cut shares of Comerica from a “buy” rating to a “hold” rating and set a $46.00 target price for the company. in a research note on Tuesday, September 26th. Jefferies Financial Group decreased their target price on shares of Comerica from $59.00 to $45.00 in a research note on Tuesday, October 10th. JPMorgan Chase & Co. cut their price target on shares of Comerica from $58.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, October 5th. Finally, Citigroup reissued a “buy” rating and issued a $58.00 price target on shares of Comerica in a report on Tuesday, September 19th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $54.19.

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, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services, as well as payment and card services for small and middle market businesses, multinational corporations, and governmental entities.