Gradient Investments LLC Has $144,000 Stake in Comerica Incorporated (NYSE:CMA)

Gradient Investments LLC boosted its holdings in Comerica Incorporated (NYSE:CMA) by 356.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,821 shares of the financial services provider’s stock after purchasing an additional 2,203 shares during the quarter. Gradient Investments LLC’s holdings in Comerica were worth $144,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Assenagon Asset Management S.A. raised its stake in Comerica by 39.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 220,659 shares of the financial services provider’s stock worth $11,262,000 after purchasing an additional 62,269 shares in the last quarter. PL Capital Advisors LLC raised its stake in Comerica by 352.8% in the 2nd quarter. PL Capital Advisors LLC now owns 28,750 shares of the financial services provider’s stock worth $1,467,000 after purchasing an additional 22,400 shares in the last quarter. SG Americas Securities LLC raised its position in shares of Comerica by 66.2% in the 2nd quarter. SG Americas Securities LLC now owns 62,868 shares of the financial services provider’s stock valued at $3,209,000 after buying an additional 25,040 shares in the last quarter. OLD National Bancorp IN raised its position in shares of Comerica by 4.9% in the 2nd quarter. OLD National Bancorp IN now owns 237,650 shares of the financial services provider’s stock valued at $12,130,000 after buying an additional 11,049 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its position in shares of Comerica by 4.6% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 33,281 shares of the financial services provider’s stock valued at $1,699,000 after buying an additional 1,476 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analysts Set New Price Targets

CMA has been the subject of several analyst reports. The Goldman Sachs Group dropped their target price on shares of Comerica from $69.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. Barclays dropped their target price on shares of Comerica from $59.00 to $56.00 and set an “underweight” rating for the company in a research report on Monday, July 22nd. UBS Group dropped their target price on shares of Comerica from $59.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. StockNews.com cut shares of Comerica from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Finally, Citigroup cut shares of Comerica from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $60.00 to $56.00 in a research report on Monday, May 6th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Comerica presently has an average rating of “Hold” and a consensus price target of $55.45.

Comerica Stock Up 2.6 %

NYSE:CMA traded up $1.41 during trading hours on Friday, reaching $56.22. The company had a trading volume of 1,292,481 shares, compared to its average volume of 2,237,989. The company has a quick ratio of 0.95, a current ratio of 0.96 and a debt-to-equity ratio of 1.23. The firm has a market cap of $7.45 billion, a price-to-earnings ratio of 11.18 and a beta of 1.25. The business’s 50-day simple moving average is $51.48 and its two-hundred day simple moving average is $51.52. Comerica Incorporated has a twelve month low of $37.40 and a twelve month high of $58.50.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.19 by $0.30. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $812.79 million. Comerica had a net margin of 12.15% and a return on equity of 15.01%. During the same period last year, the company posted $2.01 earnings per share. On average, equities analysts expect that Comerica Incorporated will post 5.05 earnings per share for the current year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.05%. The ex-dividend date of this dividend is Friday, September 13th. Comerica’s payout ratio is 56.46%.

Comerica Company 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.