Arete Wealth Advisors LLC Buys New Shares in Comerica Incorporated (NYSE:CMA)

Arete Wealth Advisors LLC purchased a new position in shares of Comerica Incorporated (NYSE:CMA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,786 shares of the financial services provider’s stock, valued at approximately $296,000.

Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. increased its stake in shares of Comerica by 134.0% during the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock worth $51,309,000 after buying an additional 490,468 shares during the period. Independent Advisor Alliance purchased a new stake in shares of Comerica in the 4th quarter valued at approximately $206,000. Jupiter Asset Management Ltd. acquired a new stake in shares of Comerica in the 4th quarter valued at $82,419,000. Jones Financial Companies Lllp lifted its position in shares of Comerica by 220.9% during the 4th quarter. Jones Financial Companies Lllp now owns 10,762 shares of the financial services provider’s stock worth $666,000 after purchasing an additional 7,408 shares during the last quarter. Finally, New England Research & Management Inc. acquired a new position in shares of Comerica during the fourth quarter worth $784,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on the company. JPMorgan Chase & Co. decreased their price target on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. UBS Group began coverage on Comerica in a research note on Tuesday, December 17th. They set a “sell” rating and a $64.00 target price for the company. Royal Bank of Canada dropped their price target on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Wells Fargo & Company reduced their price objective on shares of Comerica from $70.00 to $67.00 and set an “equal weight” rating for the company in a research report on Friday, March 28th. Finally, Stephens downgraded shares of Comerica from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $66.00 to $64.00 in a research report on Monday, March 31st. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $67.95.

Comerica Stock Performance

Shares of CMA stock opened at $51.48 on Monday. The company has a market cap of $6.75 billion, a price-to-earnings ratio of 10.26 and a beta of 0.96. The stock has a 50 day simple moving average of $62.28 and a 200-day simple moving average of $63.57. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same period last year, the company posted $1.46 earnings per share. On average, equities analysts forecast that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.71 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 5.52%. Comerica’s dividend payout ratio (DPR) is presently 56.57%.

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.