Wedbush Securities Inc. Has $372,000 Stake in Comerica Incorporated (NYSE:CMA)

Wedbush Securities Inc. raised its stake in Comerica Incorporated (NYSE:CMA) by 39.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,015 shares of the financial services provider’s stock after purchasing an additional 1,690 shares during the quarter. Wedbush Securities Inc.’s holdings in Comerica were worth $372,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. Trust Co. of Vermont lifted its stake in Comerica by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 321 shares in the last quarter. Luken Investment Analytics LLC purchased a new stake in shares of Comerica in the fourth quarter valued at about $31,000. MCF Advisors LLC lifted its position in shares of Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Comerica during the third quarter worth about $42,000. Finally, V Square Quantitative Management LLC grew its position in Comerica by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 221 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CMA. Stephens lowered Comerica from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $66.00 to $64.00 in a report on Monday, March 31st. Royal Bank of Canada lowered their target price on Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Compass Point increased their price target on shares of Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Keefe, Bruyette & Woods lowered their price objective on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Finally, Argus raised shares of Comerica to a “hold” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Comerica has an average rating of “Hold” and a consensus price target of $67.95.

Comerica Stock Down 2.0 %

Shares of NYSE:CMA opened at $50.25 on Wednesday. The stock has a market capitalization of $6.59 billion, a P/E ratio of 10.01 and a beta of 0.96. The stock’s 50-day moving average price is $61.48 and its 200-day moving average price is $63.33. 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 Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45.

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

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 5.65%. The ex-dividend date was Friday, March 14th. Comerica’s payout ratio is 56.57%.

Comerica 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.