Jacobs Levy Equity Management Inc. Has $50.76 Million Stake in Comerica Incorporated (NYSE:CMA)

Jacobs Levy Equity Management Inc. increased its holdings in Comerica Incorporated (NYSE:CMA) by 21.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 923,009 shares of the financial services provider’s stock after buying an additional 160,103 shares during the period. Jacobs Levy Equity Management Inc. owned 0.70% of Comerica worth $50,756,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CMA. Spire Wealth Management increased its stake in Comerica by 95.9% in the fourth quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 235 shares during the last quarter. Turtle Creek Wealth Advisors LLC bought a new position in Comerica in the fourth quarter valued at approximately $36,000. Cullen Frost Bankers Inc. bought a new position in Comerica in the fourth quarter valued at approximately $51,000. FinTrust Capital Advisors LLC increased its stake in Comerica by 1,132.6% in the first quarter. FinTrust Capital Advisors LLC now owns 1,171 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 1,076 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Comerica by 26.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,407 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 296 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CMA has been the topic of a number of recent analyst reports. The Goldman Sachs Group decreased their price objective on shares of Comerica from $69.00 to $62.00 and set a “buy” rating on the stock in a research note on Tuesday, June 4th. Truist Financial cut shares of Comerica from a “buy” rating to a “hold” rating and decreased their target price for the stock from $55.00 to $53.00 in a research note on Monday, July 22nd. Stephens reaffirmed an “overweight” rating and set a $64.00 target price on shares of Comerica in a research note on Tuesday, June 11th. Deutsche Bank Aktiengesellschaft began coverage on shares of Comerica in a research note on Wednesday, April 10th. They set a “hold” rating and a $59.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their target price on shares of Comerica from $62.00 to $57.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $54.95.

Comerica Trading Up 1.0 %

CMA stock traded up $0.51 during midday trading on Tuesday, hitting $53.71. The stock had a trading volume of 1,830,424 shares, compared to its average volume of 2,255,488. The firm has a market cap of $7.12 billion, a P/E ratio of 10.57 and a beta of 1.25. The company has a current ratio of 0.96, a quick ratio of 0.95 and a debt-to-equity ratio of 1.23. Comerica Incorporated has a 1-year low of $37.40 and a 1-year high of $58.50. The business has a fifty day moving average price of $50.59 and a two-hundred day moving average price of $51.57.

Comerica (NYSE:CMA) last released its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.30. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $812.79 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same quarter in the previous year, the business earned $2.01 earnings per share. On average, sell-side analysts predict that Comerica Incorporated will post 5.03 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, September 13th. This represents a $2.84 annualized dividend and a dividend yield of 5.29%. Comerica’s dividend payout ratio is currently 56.46%.

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.