728 Shares in Comerica Incorporated (NYSE:CMA) Purchased by Family Firm Inc.

Family Firm Inc. purchased a new position in shares of Comerica Incorporated (NYSE:CMA) during the second quarter, HoldingsChannel reports. The fund purchased 728 shares of the financial services provider’s stock, valued at approximately $37,000.

A number of other hedge funds have also bought and sold shares of the business. New York State Teachers Retirement System increased its holdings in Comerica by 7.3% in the 2nd quarter. New York State Teachers Retirement System now owns 169,671 shares of the financial services provider’s stock valued at $8,660,000 after buying an additional 11,564 shares during the period. Louisiana State Employees Retirement System increased its holdings in Comerica by 766.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 66,700 shares of the financial services provider’s stock valued at $3,404,000 after buying an additional 59,000 shares during the period. LaFleur & Godfrey LLC increased its holdings in Comerica by 13.4% in the 2nd quarter. LaFleur & Godfrey LLC now owns 63,537 shares of the financial services provider’s stock valued at $3,243,000 after buying an additional 7,496 shares during the period. Busey Bank increased its holdings in Comerica by 4.5% in the 2nd quarter. Busey Bank now owns 7,305 shares of the financial services provider’s stock valued at $373,000 after buying an additional 313 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new position in Comerica in the 2nd quarter valued at about $228,000. 80.74% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on CMA. Morgan Stanley raised their target price on shares of Comerica from $50.00 to $61.00 and gave the company an “equal weight” rating in a report on Monday, August 5th. Stephens restated an “overweight” rating and issued a $64.00 price target on shares of Comerica in a research note on Tuesday, June 11th. JPMorgan Chase & Co. reduced their price target 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. Barclays reduced their price target on shares of Comerica from $59.00 to $56.00 and set an “underweight” rating on the stock in a research note on Monday, July 22nd. Finally, Evercore ISI reduced their price target on shares of Comerica from $58.00 to $54.00 and set an “in-line” rating on the stock in a research note on Tuesday, June 25th. Three analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $55.45.

Comerica Trading Up 4.7 %

Shares of NYSE CMA traded up $2.57 during midday trading on Friday, reaching $57.48. The stock had a trading volume of 1,549,220 shares, compared to its average volume of 2,213,217. The firm has a market cap of $7.62 billion, a price-to-earnings ratio of 11.43 and a beta of 1.25. Comerica Incorporated has a twelve month low of $37.40 and a twelve month high of $58.50. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.95 and a current ratio of 0.96. The company’s 50 day moving average price is $52.33 and its 200 day moving average price is $51.67.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.30. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate 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 company earned $2.01 EPS. As a group, sell-side analysts expect that Comerica Incorporated will post 5.05 EPS for the current 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 paid a $0.71 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.84 annualized dividend and a dividend yield of 4.94%. Comerica’s dividend payout ratio is currently 56.46%.

About Comerica

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.