First Trust Advisors LP Grows Position in Comerica Incorporated $CMA

First Trust Advisors LP lifted its position in Comerica Incorporated (NYSE:CMA) by 11.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 654,103 shares of the financial services provider’s stock after purchasing an additional 69,392 shares during the period. First Trust Advisors LP owned about 0.51% of Comerica worth $39,017,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CMA. Lynx Investment Advisory grew its holdings in Comerica by 3.3% in the 2nd quarter. Lynx Investment Advisory now owns 5,135 shares of the financial services provider’s stock worth $306,000 after acquiring an additional 163 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Comerica by 41.8% during the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 176 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Comerica by 19.6% during the second quarter. Parallel Advisors LLC now owns 1,152 shares of the financial services provider’s stock worth $69,000 after purchasing an additional 189 shares during the period. Louisiana State Employees Retirement System grew its stake in shares of Comerica by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 37,000 shares of the financial services provider’s stock worth $2,207,000 after purchasing an additional 200 shares during the last quarter. Finally, MAI Capital Management increased its holdings in Comerica by 21.7% during the 2nd quarter. MAI Capital Management now owns 1,146 shares of the financial services provider’s stock valued at $68,000 after purchasing an additional 204 shares during the period. 80.74% of the stock is currently owned by institutional investors.

Comerica Stock Performance

Shares of CMA stock opened at $83.81 on Wednesday. The company’s fifty day moving average price is $78.17 and its 200-day moving average price is $69.32. The stock has a market cap of $10.71 billion, a PE ratio of 15.99 and a beta of 1.07. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. Comerica Incorporated has a 12 month low of $48.12 and a 12 month high of $85.32.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Monday, December 9th. The financial services provider reported $1.53 earnings per share (EPS) for the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. The company had revenue of $824.00 million during the quarter. On average, equities analysts expect that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Monday, December 15th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.4%. The ex-dividend date is Monday, December 15th. Comerica’s dividend payout ratio (DPR) is presently 54.20%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CMA shares. Royal Bank Of Canada increased their price objective on Comerica from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Evercore ISI set a $88.00 price target on Comerica and gave the stock an “in-line” rating in a research note on Thursday, October 30th. Cowen began coverage on shares of Comerica in a report on Wednesday, September 24th. They issued a “hold” rating on the stock. TD Cowen began coverage on shares of Comerica in a report on Thursday, September 25th. They issued a “hold” rating and a $75.00 price objective for the company. Finally, Wells Fargo & Company raised their target price on shares of Comerica from $65.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Monday, October 20th. Two research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $74.26.

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.