Point72 Asia Singapore Pte. Ltd. Buys 4,162 Shares of Comerica Incorporated (NYSE:CMA)

Point72 Asia Singapore Pte. Ltd. lifted its stake in Comerica Incorporated (NYSE:CMA) by 126.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,447 shares of the financial services provider’s stock after buying an additional 4,162 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in Comerica were worth $461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in Comerica by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,035,820 shares of the financial services provider’s stock worth $311,464,000 after acquiring an additional 114,072 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Comerica by 2.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider’s stock worth $274,092,000 after purchasing an additional 125,514 shares during the last quarter. North Reef Capital Management LP increased its position in shares of Comerica by 15.7% during the 4th quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider’s stock worth $250,492,000 after purchasing an additional 550,000 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its holdings in Comerica by 3.0% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider’s stock valued at $153,462,000 after purchasing an additional 72,391 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Comerica by 4.9% in the fourth quarter. Geode Capital Management LLC now owns 2,214,963 shares of the financial services provider’s stock valued at $137,039,000 after buying an additional 103,118 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on CMA shares. Stephens lowered shares of Comerica from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $66.00 to $64.00 in a report on Monday, March 31st. Robert W. Baird dropped their price target on Comerica from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods cut their price objective on Comerica from $77.00 to $68.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. The Goldman Sachs Group reduced their price objective on Comerica from $66.00 to $57.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 22nd. Finally, DA Davidson lowered their target price on Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Comerica currently has an average rating of “Hold” and an average price target of $63.22.

Comerica Trading Down 0.2%

Shares of NYSE CMA opened at $58.08 on Friday. The company’s 50 day simple moving average is $55.53 and its 200 day simple moving average is $62.08. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The firm has a market capitalization of $7.63 billion, a P/E ratio of 11.57 and a beta of 0.92.

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

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.89%. The ex-dividend date is Friday, June 13th. Comerica’s payout ratio is 53.69%.

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.