Comerica Incorporated (NYSE:CMA) Shares Bought by Man Group plc

Man Group plc grew its position in Comerica Incorporated (NYSE:CMA) by 17.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,008 shares of the financial services provider’s stock after acquiring an additional 6,132 shares during the period. Man Group plc’s holdings in Comerica were worth $2,536,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Nomura Holdings Inc. acquired a new position in shares of Comerica in the fourth quarter worth about $1,079,000. NorthRock Partners LLC acquired a new position in shares of Comerica in the fourth quarter worth about $408,000. Laurion Capital Management LP acquired a new position in shares of Comerica in the fourth quarter worth about $229,000. Jacobs Levy Equity Management Inc. raised its position in shares of Comerica by 39.2% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,396,095 shares of the financial services provider’s stock worth $86,348,000 after acquiring an additional 393,507 shares during the period. Finally, Jefferies Financial Group Inc. raised its position in shares of Comerica by 27.2% in the fourth quarter. Jefferies Financial Group Inc. now owns 13,000 shares of the financial services provider’s stock worth $804,000 after acquiring an additional 2,782 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Stock Performance

Comerica stock opened at $56.28 on Friday. The firm has a 50 day simple moving average of $55.53 and a 200-day simple moving average of $61.88. 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 stock has a market cap of $7.40 billion, a price-to-earnings ratio of 11.21 and a beta of 0.92.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, beating 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 business had revenue of $829.00 million during the quarter, compared to analysts’ expectations of $839.31 million. During the same quarter in the prior year, the company posted $1.29 EPS. On average, analysts expect that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.84 annualized dividend and a dividend yield of 5.05%. Comerica’s dividend payout ratio (DPR) is 53.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Comerica from $67.00 to $55.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 22nd. Keefe, Bruyette & Woods reduced their price target on shares of Comerica from $77.00 to $68.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Jefferies Financial Group initiated coverage on shares of Comerica in a research report on Wednesday. They set an “underperform” rating and a $47.00 price target for the company. Evercore ISI downgraded shares of Comerica from an “in-line” rating to an “underperform” rating and reduced their price target for the stock from $65.00 to $50.00 in a research report on Tuesday, April 22nd. Finally, Robert W. Baird reduced their price target on shares of Comerica from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Six equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Comerica currently has a consensus rating of “Hold” and an average target price of $62.37.

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.