Sumitomo Mitsui DS Asset Management Company Ltd Has $1.28 Million Stock Position in Comerica Incorporated (NYSE:CMA)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Comerica Incorporated (NYSE:CMA) by 6.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,982 shares of the financial services provider’s stock after buying an additional 1,357 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Comerica were worth $1,283,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMA. Vaughan Nelson Investment Management L.P. grew its position in Comerica by 129.3% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock worth $107,716,000 after purchasing an additional 1,088,330 shares during the last quarter. North Reef Capital Management LP lifted its holdings in shares of Comerica by 43.0% during the 3rd quarter. North Reef Capital Management LP now owns 2,880,000 shares of the financial services provider’s stock worth $119,664,000 after acquiring an additional 865,870 shares during the period. rhino investment partners Inc lifted its holdings in shares of Comerica by 684.2% during the 3rd quarter. rhino investment partners Inc now owns 744,956 shares of the financial services provider’s stock worth $30,953,000 after acquiring an additional 649,956 shares during the period. Artemis Investment Management LLP bought a new position in shares of Comerica during the 4th quarter worth about $31,018,000. Finally, Adage Capital Partners GP L.L.C. lifted its holdings in shares of Comerica by 46.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,462,906 shares of the financial services provider’s stock worth $60,784,000 after acquiring an additional 461,741 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CMA has been the subject of a number of analyst reports. Royal Bank of Canada raised their price objective on shares of Comerica from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. Jefferies Financial Group reduced their price objective on shares of Comerica from $65.00 to $60.00 and set a “buy” rating for the company in a report on Monday, April 8th. Raymond James downgraded shares of Comerica from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Barclays lifted their price target on shares of Comerica from $49.00 to $59.00 and gave the company an “underweight” rating in a report on Tuesday, January 2nd. Finally, Morgan Stanley reissued an “equal weight” rating and set a $53.00 price target on shares of Comerica in a report on Monday. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Comerica currently has an average rating of “Hold” and an average price target of $56.89.

Insider Activity at Comerica

In other news, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 17,460 shares in the company, valued at $920,840.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 17,460 shares in the company, valued at $920,840.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following the completion of the transaction, the executive vice president now owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Comerica Stock Down 1.5 %

Shares of NYSE CMA opened at $52.16 on Friday. The stock has a market cap of $6.91 billion, a P/E ratio of 10.37 and a beta of 1.27. The firm has a 50 day moving average price of $51.51 and a 200 day moving average price of $49.58. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.94 and a current ratio of 0.95. Comerica Incorporated has a 52-week low of $28.40 and a 52-week high of $57.39.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. The firm had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same quarter in the previous year, the company earned $2.39 earnings per share. Analysts expect that Comerica Incorporated will post 5.15 EPS for the current year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 5.44%. The ex-dividend date of this dividend is Friday, June 14th. Comerica’s dividend payout ratio is currently 56.46%.

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.