Raymond James Financial Services Advisors Inc. Has $630,000 Stock Position in Comerica Incorporated (NYSE:CMA)

Raymond James Financial Services Advisors Inc. lifted its stake in Comerica Incorporated (NYSE:CMA) by 3.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,285 shares of the financial services provider’s stock after acquiring an additional 354 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Comerica were worth $630,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. CVA Family Office LLC acquired a new stake in shares of Comerica in the fourth quarter worth $56,000. Raymond James & Associates boosted its stake in Comerica by 18.1% during the fourth quarter. Raymond James & Associates now owns 203,324 shares of the financial services provider’s stock worth $11,348,000 after buying an additional 31,125 shares in the last quarter. CoreCap Advisors LLC acquired a new stake in Comerica during the fourth quarter worth $258,000. HB Wealth Management LLC acquired a new stake in Comerica during the fourth quarter worth $266,000. Finally, FNY Investment Advisers LLC acquired a new stake in Comerica during the fourth quarter worth $50,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Stock Performance

Shares of NYSE:CMA opened at $49.82 on Thursday. The stock has a market capitalization of $6.60 billion, a P/E ratio of 7.74 and a beta of 1.27. Comerica Incorporated has a 1-year low of $28.40 and a 1-year high of $57.39. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.03. The business has a 50-day moving average price of $51.39 and a two-hundred day moving average price of $49.14.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Friday, January 19th. The financial services provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.08. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $826.07 million. Comerica had a return on equity of 19.41% and a net margin of 16.71%. During the same period in the previous year, the business posted $2.58 EPS. Equities analysts predict that Comerica Incorporated will post 5.09 earnings per share for the current year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 15th were paid a $0.71 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.70%. Comerica’s dividend payout ratio (DPR) is presently 44.10%.

Insider Activity

In other news, EVP Cassandra M. Mckinney sold 1,616 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the completion of the sale, the executive vice president now directly owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.74, for a total value of $160,013.16. Following the completion of the sale, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Cassandra M. Mckinney sold 1,616 shares of the business’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 value 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 $454,276.96. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Evercore ISI lifted their price target on shares of Comerica from $55.00 to $58.00 and gave the stock an “in-line” rating in a research note on Thursday, March 28th. Stephens reiterated an “overweight” rating and set a $64.00 price target on shares of Comerica in a research note on Wednesday, March 6th. The Goldman Sachs Group upgraded shares of Comerica from a “neutral” rating to a “buy” rating and set a $70.50 price target on the stock in a research note on Thursday, January 4th. Bank Of America (Bofa) lifted their price target on shares of Comerica from $52.00 to $55.00 and gave the stock a “neutral” rating in a research note on Thursday, January 18th. Finally, Royal Bank of Canada reduced their target price on shares of Comerica from $63.00 to $61.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 9th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $57.67.

About Comerica

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.