Prudential PLC Purchases Shares of 30,319 Comerica Incorporated (NYSE:CMA)

Prudential PLC acquired a new position in shares of Comerica Incorporated (NYSE:CMA) in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 30,319 shares of the financial services provider’s stock, valued at approximately $1,875,000.

Other hedge funds have also made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in Comerica by 134.0% in the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock valued at $51,309,000 after purchasing an additional 490,468 shares in the last quarter. Independent Advisor Alliance acquired a new position in shares of Comerica in the 4th quarter valued at $206,000. Jupiter Asset Management Ltd. purchased a new position in shares of Comerica in the 4th quarter valued at $82,419,000. Jones Financial Companies Lllp raised its stake in Comerica by 220.9% during the 4th quarter. Jones Financial Companies Lllp now owns 10,762 shares of the financial services provider’s stock worth $666,000 after acquiring an additional 7,408 shares in the last quarter. Finally, New England Research & Management Inc. purchased a new stake in Comerica in the fourth quarter valued at $784,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CMA. Keefe, Bruyette & Woods cut their target price on Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Royal Bank of Canada cut their price target on Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. The Goldman Sachs Group downgraded Comerica from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $85.00 to $71.00 in a report on Tuesday, January 7th. JPMorgan Chase & Co. cut their target price on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Finally, DA Davidson decreased their price target on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $67.95.

Comerica Stock Down 3.4 %

CMA stock opened at $51.48 on Monday. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The company has a market cap of $6.75 billion, a P/E ratio of 10.26 and a beta of 0.96. The company’s 50-day moving average price is $62.28 and its 200 day moving average price is $63.57.

Comerica (NYSE:CMA) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same period last year, the firm posted $1.46 earnings per share. On average, research analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 5.52%. The ex-dividend date was Friday, March 14th. Comerica’s dividend payout ratio (DPR) is presently 56.57%.

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.