Sciencast Management LP purchased a new stake in Comerica Incorporated (NYSE:CMA) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 27,300 shares of the financial services provider’s stock, valued at approximately $2,119,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Trust Department MB Financial Bank N A raised its holdings in shares of Comerica by 64.3% in the first quarter. Trust Department MB Financial Bank N A now owns 345 shares of the financial services provider’s stock valued at $25,000 after buying an additional 135 shares during the last quarter. First Manhattan Co. raised its holdings in shares of Comerica by 4.2% in the first quarter. First Manhattan Co. now owns 3,777 shares of the financial services provider’s stock valued at $276,000 after buying an additional 152 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Comerica by 7.3% in the fourth quarter. Parallel Advisors LLC now owns 2,292 shares of the financial services provider’s stock valued at $157,000 after buying an additional 155 shares during the last quarter. Simmons Bank increased its stake in shares of Comerica by 1.3% during the fourth quarter. Simmons Bank now owns 13,283 shares of the financial services provider’s stock worth $913,000 after acquiring an additional 165 shares during the period. Finally, Pier 88 Investment Partners LLC increased its stake in shares of Comerica by 56.7% during the fourth quarter. Pier 88 Investment Partners LLC now owns 470 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 170 shares during the period. 84.41% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE CMA traded down $1.33 on Monday, hitting $79.00. The company’s stock had a trading volume of 103,276 shares, compared to its average volume of 2,178,733. Comerica Incorporated has a 12-month low of $63.69 and a 12-month high of $101.05. The company has a market capitalization of $12.33 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 1.13 and a beta of 1.43. The company has a debt-to-equity ratio of 0.86, a current ratio of 1.03 and a quick ratio of 1.03.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Wednesday, January 16th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.87 by $0.08. Comerica had a net margin of 34.24% and a return on equity of 15.84%. The company had revenue of $864.00 million for the quarter, compared to the consensus estimate of $863.43 million. During the same quarter in the prior year, the firm earned $1.28 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, analysts forecast that Comerica Incorporated will post 8.11 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Friday, March 15th were issued a $0.67 dividend. This represents a $2.68 annualized dividend and a dividend yield of 3.39%. The ex-dividend date was Thursday, March 14th. This is an increase from Comerica’s previous quarterly dividend of $0.60. Comerica’s dividend payout ratio is 37.02%.

Comerica declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, January 22nd that permits the company to buyback 15,000,000 outstanding shares. This buyback authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.

A number of research analysts have recently issued reports on the stock. Goldman Sachs Group lowered shares of Comerica from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $89.00 to $84.00 in a research note on Thursday, April 4th. Zacks Investment Research upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research note on Tuesday, March 12th. B. Riley dropped their price target on shares of Comerica from $87.00 to $80.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 26th. ValuEngine upgraded shares of Comerica from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 2nd. Finally, Wedbush lowered shares of Comerica from an “outperform” rating to a “neutral” rating and dropped their price target for the stock from $86.00 to $85.00 in a research note on Wednesday, March 13th. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Comerica presently has an average rating of “Hold” and an average target price of $92.38.

In related news, insider Paul R. Obermeyer sold 8,200 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $86.75, for a total transaction of $711,350.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Megan D. Burkhart sold 7,443 shares of the company’s stock in a transaction that occurred on Wednesday, February 27th. The shares were sold at an average price of $87.55, for a total transaction of $651,634.65. The disclosure for this sale can be found here. Insiders sold 18,565 shares of company stock worth $1,603,348 in the last ninety days. Insiders own 0.98% of the company’s stock.

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Comerica Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services middle market businesses, multinational corporations, and governmental entities.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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