LaFleur & Godfrey LLC Increases Stock Holdings in Comerica Incorporated (NYSE:CMA)

LaFleur & Godfrey LLC boosted its position in Comerica Incorporated (NYSE:CMA) by 10.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 67,802 shares of the financial services provider’s stock after purchasing an additional 6,410 shares during the period. LaFleur & Godfrey LLC owned about 0.05% of Comerica worth $4,004,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP lifted its position in shares of Comerica by 152.0% during the 4th quarter. Quarry LP now owns 867 shares of the financial services provider’s stock valued at $54,000 after buying an additional 523 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Comerica by 64.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,362 shares of the financial services provider’s stock valued at $84,000 after buying an additional 533 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Comerica by 19.4% during the 1st quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider’s stock valued at $105,000 after buying an additional 289 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Comerica by 63.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,061 shares of the financial services provider’s stock valued at $127,000 after buying an additional 802 shares in the last quarter. Finally, Point72 Europe London LLP purchased a new position in shares of Comerica during the 4th quarter valued at about $130,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Stock Performance

NYSE:CMA opened at $57.39 on Tuesday. The stock’s fifty day moving average is $55.93 and its 200 day moving average is $59.76. Comerica Incorporated has a fifty-two week low of $47.33 and a fifty-two week high of $73.45. The firm has a market capitalization of $7.54 billion, a PE ratio of 10.85 and a beta of 0.92. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.96 and a current ratio of 0.96.

Comerica (NYSE:CMA) last released its earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.11. Comerica had a return on equity of 11.59% and a net margin of 14.89%. The business had revenue of $829.00 million for the quarter, compared to analyst estimates of $839.31 million. During the same quarter last year, the firm posted $1.29 earnings per share. On average, sell-side analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a yield of 4.95%. Comerica’s payout ratio is 53.69%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CMA shares. JPMorgan Chase & Co. cut Comerica from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $64.00 to $52.00 in a research report on Tuesday, April 22nd. Keefe, Bruyette & Woods lowered their price target on Comerica from $77.00 to $68.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. UBS Group upgraded Comerica from a “sell” rating to a “neutral” rating and set a $59.00 price target for the company in a research note on Thursday, April 10th. Royal Bank Of Canada dropped their price target on Comerica from $75.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Finally, The Goldman Sachs Group dropped their price target on Comerica from $66.00 to $57.00 and set a “neutral” rating for the company in a research note on Tuesday, April 22nd. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $61.95.

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.