Two Sigma Advisers LP Grows Position in Comerica Incorporated (NYSE:CMA)

Two Sigma Advisers LP boosted its stake in Comerica Incorporated (NYSE:CMA) by 12.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,074,800 shares of the financial services provider’s stock after buying an additional 118,900 shares during the period. Two Sigma Advisers LP’s holdings in Comerica were worth $66,476,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its position in shares of Comerica by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,035,820 shares of the financial services provider’s stock valued at $311,464,000 after acquiring an additional 114,072 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Comerica by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider’s stock valued at $274,092,000 after purchasing an additional 125,514 shares during the last quarter. North Reef Capital Management LP grew its stake in shares of Comerica by 15.7% in the fourth quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider’s stock valued at $250,492,000 after buying an additional 550,000 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Comerica by 3.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider’s stock valued at $153,462,000 after buying an additional 72,391 shares during the period. Finally, Geode Capital Management LLC lifted its stake in Comerica by 4.9% during the 4th quarter. Geode Capital Management LLC now owns 2,214,963 shares of the financial services provider’s stock worth $137,039,000 after acquiring an additional 103,118 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Wells Fargo & Company cut their price target on shares of Comerica from $67.00 to $55.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. The Goldman Sachs Group cut their target price on shares of Comerica from $66.00 to $57.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Stephens cut shares of Comerica from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $66.00 to $64.00 in a research report on Monday, March 31st. Robert W. Baird cut their price objective on Comerica from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 22nd. Finally, Argus upgraded Comerica to a “hold” rating in a report on Friday, January 31st. Five analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Comerica currently has a consensus rating of “Hold” and a consensus price target of $63.22.

Comerica Stock Down 0.3%

CMA stock opened at $58.59 on Tuesday. The stock has a market cap of $7.70 billion, a P/E ratio of 11.67 and a beta of 0.92. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica Incorporated has a twelve month low of $45.32 and a twelve month high of $73.45. The company’s 50 day moving average is $55.58 and its two-hundred day moving average is $61.99.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $839.31 million. During the same period last year, the business earned $1.29 EPS. Research analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date is Friday, June 13th. Comerica’s dividend payout ratio (DPR) is currently 53.69%.

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.