Nomura Holdings Inc. Invests $1.08 Million in Comerica Incorporated (NYSE:CMA)

Nomura Holdings Inc. purchased a new position in shares of Comerica Incorporated (NYSE:CMA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 17,450 shares of the financial services provider’s stock, valued at approximately $1,079,000.

A number of other institutional investors and hedge funds have also made changes to their positions in CMA. PL Capital Advisors LLC grew its stake in shares of Comerica by 6,085.0% during the 4th quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider’s stock worth $109,981,000 after purchasing an additional 1,749,438 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of Comerica during the 4th quarter worth $82,419,000. Norges Bank acquired a new position in shares of Comerica during the 4th quarter worth $64,150,000. North Reef Capital Management LP grew its stake in shares of Comerica by 15.7% during the 4th quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider’s stock worth $250,492,000 after purchasing an additional 550,000 shares during the period. Finally, Canada Pension Plan Investment Board grew its stake in shares of Comerica by 548.9% during the 4th quarter. Canada Pension Plan Investment Board now owns 642,400 shares of the financial services provider’s stock worth $39,732,000 after purchasing an additional 543,400 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Trading Up 1.3%

Shares of CMA stock opened at $58.81 on Monday. The firm has a market cap of $7.73 billion, a P/E ratio of 11.71 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 $55.56 and its 200-day simple moving average is $62.02.

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

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.84 annualized dividend and a yield of 4.83%. Comerica’s payout ratio is 53.69%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on CMA. Robert W. Baird lowered their price target on shares of Comerica from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 22nd. Argus raised shares of Comerica to a “hold” rating in a research note on Friday, January 31st. UBS Group raised shares of Comerica from a “sell” rating to a “neutral” rating and set a $59.00 price objective on the stock in a research note on Thursday, April 10th. Wells Fargo & Company lowered their price objective 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. Finally, Raymond James lowered their price objective on shares of Comerica from $72.00 to $67.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $63.22.

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.