GKV Capital Management Co. Inc. Purchases Shares of 4,400 Comerica Incorporated (NYSE:CMA)

GKV Capital Management Co. Inc. purchased a new stake in Comerica Incorporated (NYSE:CMA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,400 shares of the financial services provider’s stock, valued at approximately $272,000.

Other hedge funds also recently made changes to their positions in the company. Trust Co. of Vermont increased its position 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 purchasing an additional 321 shares during the period. Luken Investment Analytics LLC acquired a new stake in shares of Comerica during the fourth quarter worth $31,000. MCF Advisors LLC increased 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 worth $39,000 after buying an additional 228 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Comerica during the third quarter worth $42,000. Finally, V Square Quantitative Management LLC lifted its holdings in Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after buying an additional 221 shares during the period. 80.74% of the stock is currently owned by institutional investors.

Comerica Stock Performance

Shares of CMA opened at $52.59 on Thursday. The stock has a 50 day moving average of $59.43 and a 200 day moving average of $62.95. 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. The company has a market capitalization of $6.90 billion, a price-to-earnings ratio of 10.48 and a beta of 0.96.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing the consensus estimate 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 quarter in the prior year, the business posted $1.46 EPS. As a group, sell-side analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 5.40%. The ex-dividend date was Friday, March 14th. Comerica’s dividend payout ratio (DPR) is 56.57%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on CMA. Stephens lowered Comerica from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $66.00 to $64.00 in a research report on Monday, March 31st. Robert W. Baird lifted their target price on Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Raymond James cut their price target on Comerica from $72.00 to $67.00 and set an “outperform” rating on the stock in a report on Wednesday, April 2nd. Argus upgraded shares of Comerica to a “hold” rating in a research note on Friday, January 31st. Finally, UBS Group raised shares of Comerica from a “sell” rating to a “neutral” rating and set a $59.00 target price on the stock in a research note on Thursday, April 10th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Comerica presently has an average rating of “Hold” and a consensus price target of $68.16.

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.