Fifth Third Wealth Advisors LLC Buys Shares of 4,465 Comerica Incorporated (NYSE:CMA)

Fifth Third Wealth Advisors LLC bought a new stake in shares of Comerica Incorporated (NYSE:CMA) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 4,465 shares of the financial services provider’s stock, valued at approximately $228,000.

Several other hedge funds have also bought and sold shares of CMA. International Assets Investment Management LLC lifted its position in Comerica by 17.4% during the fourth quarter. International Assets Investment Management LLC now owns 6,385 shares of the financial services provider’s stock valued at $356,000 after purchasing an additional 945 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Comerica in the 4th quarter worth approximately $446,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Comerica by 8.6% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,923 shares of the financial services provider’s stock worth $1,614,000 after acquiring an additional 2,295 shares during the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Comerica by 13.6% in the 4th quarter. Daiwa Securities Group Inc. now owns 3,534 shares of the financial services provider’s stock worth $197,000 after acquiring an additional 423 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Comerica by 6.3% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,982 shares of the financial services provider’s stock worth $1,283,000 after acquiring an additional 1,357 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Comerica Stock Down 0.6 %

NYSE:CMA opened at $54.91 on Friday. The firm’s 50-day moving average price is $51.98 and its 200-day moving average price is $51.60. The company has a market capitalization of $7.28 billion, a PE ratio of 10.92 and a beta of 1.25. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.95. Comerica Incorporated has a 1-year low of $37.40 and a 1-year high of $58.50.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 EPS for the quarter, beating the consensus estimate of $1.19 by $0.30. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $812.79 million. During the same period in the prior year, the firm posted $2.01 EPS. On average, equities analysts predict that Comerica Incorporated will post 5.05 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 5.17%. The ex-dividend date of this dividend is Friday, September 13th. Comerica’s dividend payout ratio is currently 56.46%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Comerica from $50.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Raymond James upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price target for the company in a report on Tuesday, July 2nd. Barclays lowered their price target on shares of Comerica from $59.00 to $56.00 and set an “underweight” rating for the company in a report on Monday, July 22nd. Wells Fargo & Company lowered their price target on shares of Comerica from $48.00 to $45.00 and set an “underweight” rating for the company in a report on Wednesday, June 12th. Finally, Evercore ISI lowered their price target on shares of Comerica from $58.00 to $54.00 and set an “in-line” rating for the company in a report on Tuesday, June 25th. Three analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $55.45.

Comerica 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.