Comerica Incorporated (NYSE:CMA) Stake Boosted by LHM Inc.

LHM Inc. lifted its stake in shares of Comerica Incorporated (NYSE:CMA) by 209.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 135,252 shares of the financial services provider’s stock after buying an additional 91,512 shares during the period. Comerica comprises about 2.7% of LHM Inc.’s holdings, making the stock its 10th largest position. LHM Inc.’s holdings in Comerica were worth $8,461,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. PL Capital Advisors LLC boosted its position in shares of Comerica by 6,085.0% in the 4th quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider’s stock worth $109,981,000 after purchasing an additional 1,749,438 shares in the last quarter. Citigroup Inc. raised its position in shares of Comerica by 390.6% in the 3rd quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider’s stock worth $45,628,000 after purchasing an additional 606,375 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Comerica by 31.3% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,408,820 shares of the financial services provider’s stock worth $144,312,000 after purchasing an additional 574,516 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Comerica by 134.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock worth $51,309,000 after purchasing an additional 490,468 shares during the last quarter. Finally, Primecap Management Co. CA purchased a new position in shares of Comerica in the 3rd quarter worth about $26,630,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CMA. Stephens reaffirmed an “overweight” rating and issued a $72.00 price target on shares of Comerica in a research report on Wednesday. Compass Point lifted their price target on Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. The Goldman Sachs Group downgraded Comerica from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $71.00 in a report on Tuesday, January 7th. Argus upgraded Comerica to a “hold” rating in a research note on Friday, January 31st. Finally, Keefe, Bruyette & Woods cut their price target on Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $68.67.

Comerica Stock Down 0.2 %

NYSE CMA opened at $59.41 on Thursday. The stock’s 50 day moving average is $64.48 and its 200 day moving average is $63.31. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45. The stock has a market cap of $7.80 billion, a PE ratio of 11.83 and a beta of 1.25.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS 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 in the previous year, the firm earned $1.46 earnings per share. Research analysts predict that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.84 annualized dividend and a dividend yield of 4.78%. Comerica’s dividend payout ratio (DPR) is 56.57%.

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.