Focus Partners Wealth Takes $426,000 Position in Comerica Incorporated (NYSE:CMA)

Focus Partners Wealth bought a new position in Comerica Incorporated (NYSE:CMA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,888 shares of the financial services provider’s stock, valued at approximately $426,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Independent Advisor Alliance purchased a new position in shares of Comerica during the 4th quarter worth $206,000. Bank of Nova Scotia purchased a new position in shares of Comerica during the 4th quarter worth $1,320,000. Jupiter Asset Management Ltd. purchased a new position in shares of Comerica during the 4th quarter worth $82,419,000. Franklin Resources Inc. boosted its stake in shares of Comerica by 251.1% during the 4th quarter. Franklin Resources Inc. now owns 51,573 shares of the financial services provider’s stock worth $3,190,000 after acquiring an additional 36,883 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in shares of Comerica by 220.9% during the 4th quarter. Jones Financial Companies Lllp now owns 10,762 shares of the financial services provider’s stock worth $666,000 after acquiring an additional 7,408 shares during the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

CMA has been the topic of several recent analyst reports. Royal Bank of Canada decreased their price objective on shares of Comerica from $75.00 to $65.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Evercore ISI downgraded shares of Comerica from an “in-line” rating to an “underperform” rating and reduced their price target for the company from $65.00 to $50.00 in a report on Tuesday, April 22nd. Raymond James reduced their price target on shares of Comerica from $72.00 to $67.00 and set an “outperform” rating on the stock in a report on Wednesday, April 2nd. Wells Fargo & Company reduced their price target on shares of Comerica from $67.00 to $55.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 22nd. Finally, The Goldman Sachs Group reduced their price target on shares of Comerica from $66.00 to $57.00 and set a “neutral” rating on the stock in a report on Tuesday, April 22nd. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Comerica currently has a consensus rating of “Hold” and an average target price of $63.22.

Comerica Trading Down 0.9%

Shares of CMA stock opened at $58.09 on Wednesday. The firm has a market cap of $7.63 billion, a P/E ratio of 11.57 and a beta of 0.92. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The firm’s 50-day simple moving average is $55.60 and its 200-day simple moving average is $61.96.

Comerica (NYSE:CMA) last posted its earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. Comerica had a net margin of 13.98% and a return on equity of 12.04%. The firm had revenue of $829.00 million during the quarter, compared to the consensus estimate of $839.31 million. During the same quarter in the prior year, the company earned $1.29 EPS. As a group, equities analysts forecast that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 4.89%. The ex-dividend date is Friday, June 13th. Comerica’s dividend payout ratio (DPR) is currently 53.69%.

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.