M3F Inc. bought a new stake in Comerica Incorporated (NYSE:CMA – Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 100,000 shares of the financial services provider’s stock, valued at approximately $4,342,000. Comerica comprises approximately 1.4% of M3F Inc.’s investment portfolio, making the stock its 29th largest position. M3F Inc. owned about 0.08% of Comerica at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Comerica by 2.4% during the first quarter. Vanguard Group Inc. now owns 15,871,102 shares of the financial services provider’s stock valued at $1,435,224,000 after buying an additional 366,188 shares during the period. State Street Corp grew its position in Comerica by 3.9% during the third quarter. State Street Corp now owns 7,675,947 shares of the financial services provider’s stock valued at $550,764,000 after buying an additional 284,884 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Comerica by 10.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 3,150,256 shares of the financial services provider’s stock worth $210,595,000 after purchasing an additional 296,736 shares during the period. Geode Capital Management LLC boosted its position in Comerica by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 2,741,969 shares of the financial services provider’s stock worth $183,120,000 after purchasing an additional 135,410 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Comerica by 34.7% during the fourth quarter. Alliancebernstein L.P. now owns 2,404,521 shares of the financial services provider’s stock worth $160,742,000 after purchasing an additional 618,978 shares during the period. Institutional investors own 81.94% of the company’s stock.
Comerica Price Performance
Shares of CMA stock traded up $0.19 during trading hours on Tuesday, hitting $48.89. 677,261 shares of the company’s stock were exchanged, compared to its average volume of 3,304,453. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.34. Comerica Incorporated has a 12-month low of $28.40 and a 12-month high of $86.42. The business’s 50 day simple moving average is $48.34 and its 200-day simple moving average is $46.94. The company has a market capitalization of $6.44 billion, a PE ratio of 5.08, a PEG ratio of 1.47 and a beta of 1.23.
Comerica (NYSE:CMA – Get Free Report) last issued its earnings results on Friday, July 21st. The financial services provider reported $2.01 EPS for the quarter, topping the consensus estimate of $1.86 by $0.15. Comerica had a net margin of 27.01% and a return on equity of 25.54%. The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $904.80 million. During the same period in the previous year, the firm earned $1.92 earnings per share. On average, equities research analysts anticipate that Comerica Incorporated will post 7.75 earnings per share for the current year.
Comerica Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 5.81%. The ex-dividend date of this dividend is Thursday, September 14th. Comerica’s payout ratio is 29.65%.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on the stock. StockNews.com assumed coverage on shares of Comerica in a research report on Thursday, August 17th. They set a “sell” rating for the company. Odeon Capital Group upgraded shares of Comerica from a “hold” rating to a “buy” rating and set a $47.24 target price for the company in a research report on Monday, June 5th. The Goldman Sachs Group increased their target price on shares of Comerica from $47.00 to $54.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 25th. Morgan Stanley restated an “equal weight” rating and issued a $45.00 price objective on shares of Comerica in a research report on Monday, July 24th. Finally, 58.com restated a “maintains” rating on shares of Comerica in a research report on Thursday, June 29th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Comerica currently has a consensus rating of “Hold” and an average price target of $62.49.
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, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services, as well as payment and card services for small and middle market businesses, multinational corporations, and governmental entities.