Quantinno Capital Management LP Has $2.72 Million Position in Comerica Incorporated (NYSE:CMA)

Quantinno Capital Management LP grew its position in Comerica Incorporated (NYSE:CMA) by 27.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 44,028 shares of the financial services provider’s stock after purchasing an additional 9,521 shares during the period. Quantinno Capital Management LP’s holdings in Comerica were worth $2,723,000 as of its most recent filing with the SEC.

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

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on CMA shares. The Goldman Sachs Group cut their target price on Comerica from $66.00 to $57.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Raymond James reduced their target price on Comerica from $72.00 to $67.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. Evercore ISI cut shares of Comerica from an “in-line” rating to an “underperform” rating and dropped their price target for the company from $65.00 to $50.00 in a research report on Tuesday, April 22nd. Stephens cut shares of Comerica from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $66.00 to $64.00 in a research report on Monday, March 31st. Finally, JPMorgan Chase & Co. lowered shares of Comerica from a “neutral” rating to an “underweight” rating and decreased their price target for the stock from $64.00 to $52.00 in a research note on Tuesday, April 22nd. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $63.22.

Comerica Stock Performance

Comerica stock opened at $58.09 on Wednesday. The company has a market capitalization of $7.63 billion, a PE ratio of 11.57 and a beta of 0.92. The firm has a fifty day simple moving average of $55.60 and a two-hundred day simple moving average of $61.96. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica Incorporated has a twelve month low of $45.32 and a twelve month high of $73.45.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.11. The company had revenue of $829.00 million for the quarter, compared to analysts’ expectations of $839.31 million. Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same quarter in the previous year, the company earned $1.29 earnings per share. Research analysts expect that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The company also recently announced 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 4.89%. Comerica’s dividend payout ratio is presently 53.69%.

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.