Raymond James Financial Services Advisors Inc. Has $630,000 Stock Holdings in Comerica Incorporated (NYSE:CMA)

Raymond James Financial Services Advisors Inc. grew its position in shares of Comerica Incorporated (NYSE:CMA) by 3.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 11,285 shares of the financial services provider’s stock after purchasing an additional 354 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Comerica were worth $630,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in CMA. Private Advisor Group LLC raised its position in shares of Comerica by 9.3% during the first quarter. Private Advisor Group LLC now owns 6,692 shares of the financial services provider’s stock worth $605,000 after acquiring an additional 568 shares during the last quarter. MetLife Investment Management LLC raised its position in shares of Comerica by 22.7% during the first quarter. MetLife Investment Management LLC now owns 35,565 shares of the financial services provider’s stock worth $3,216,000 after acquiring an additional 6,590 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Comerica by 6.2% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,486 shares of the financial services provider’s stock worth $1,581,000 after acquiring an additional 1,024 shares during the last quarter. Great West Life Assurance Co. Can raised its position in shares of Comerica by 8.4% during the first quarter. Great West Life Assurance Co. Can now owns 27,966 shares of the financial services provider’s stock worth $2,626,000 after acquiring an additional 2,163 shares during the last quarter. Finally, Yousif Capital Management LLC raised its position in shares of Comerica by 119.2% during the first quarter. Yousif Capital Management LLC now owns 7,659 shares of the financial services provider’s stock worth $693,000 after acquiring an additional 4,165 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Cassandra M. Mckinney sold 1,616 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $54.64, for a total transaction of $88,298.24. Following the sale, the executive vice president now owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Comerica news, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the sale, the executive vice president now owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.74, for a total value of $160,013.16. Following the completion of the sale, the executive vice president now directly owns 17,460 shares in the company, valued at approximately $920,840.40. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CMA shares. Jefferies Financial Group lowered their price objective on Comerica from $65.00 to $60.00 and set a “buy” rating for the company in a research report on Monday, April 8th. Royal Bank of Canada lowered their target price on Comerica from $63.00 to $61.00 and set an “outperform” rating for the company in a report on Tuesday, April 9th. The Goldman Sachs Group upgraded Comerica from a “neutral” rating to a “buy” rating and set a $70.50 target price for the company in a report on Thursday, January 4th. Raymond James downgraded Comerica from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Finally, UBS Group reissued a “neutral” rating and issued a $59.00 price objective (down previously from $66.00) on shares of Comerica in a research note on Thursday, April 4th. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $57.67.

Comerica Stock Down 0.4 %

Shares of NYSE CMA opened at $49.82 on Thursday. Comerica Incorporated has a one year low of $28.40 and a one year high of $57.39. The company has a debt-to-equity ratio of 1.03, a current ratio of 0.94 and a quick ratio of 0.94. The business’s fifty day moving average price is $51.39 and its 200-day moving average price is $49.14. The stock has a market capitalization of $6.60 billion, a PE ratio of 7.74 and a beta of 1.27.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Friday, January 19th. The financial services provider reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.08. Comerica had a return on equity of 19.41% and a net margin of 16.71%. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $826.07 million. During the same quarter in the prior year, the firm earned $2.58 EPS. On average, equities research analysts anticipate that Comerica Incorporated will post 5.09 EPS for the current year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 5.70%. Comerica’s dividend payout ratio (DPR) is 44.10%.

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.