1,332,555 Shares in Comerica Incorporated (NYSE:CMA) Purchased by Jupiter Asset Management Ltd.

Jupiter Asset Management Ltd. acquired a new position in shares of Comerica Incorporated (NYSE:CMA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,332,555 shares of the financial services provider’s stock, valued at approximately $82,419,000. Comerica makes up about 0.8% of Jupiter Asset Management Ltd.’s portfolio, making the stock its 20th largest position. Jupiter Asset Management Ltd. owned approximately 1.01% of Comerica at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of CMA. Atria Investments Inc purchased a new position in Comerica in the third quarter worth about $219,000. Crossmark Global Holdings Inc. raised its holdings in Comerica by 50.6% in the third quarter. Crossmark Global Holdings Inc. now owns 9,366 shares of the financial services provider’s stock worth $561,000 after buying an additional 3,146 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in Comerica by 10.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 41,542 shares of the financial services provider’s stock worth $2,489,000 after buying an additional 3,939 shares during the last quarter. Wolverine Asset Management LLC purchased a new position in Comerica in the third quarter worth about $1,905,000. Finally, Victory Capital Management Inc. raised its holdings in Comerica by 38.2% in the third quarter. Victory Capital Management Inc. now owns 43,328 shares of the financial services provider’s stock worth $2,596,000 after buying an additional 11,981 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Comerica Stock Performance

CMA opened at $57.07 on Wednesday. The firm has a market cap of $7.50 billion, a P/E ratio of 11.37 and a beta of 1.23. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. The company has a 50 day simple moving average of $64.07 and a two-hundred day simple moving average of $63.38. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97.

Comerica (NYSE:CMA) last posted 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 quarter in the prior year, the business earned $1.46 earnings per share. Equities analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.98%. Comerica’s dividend payout ratio is 56.57%.

Wall Street Analysts Forecast Growth

CMA has been the subject of several recent analyst reports. Royal Bank of Canada decreased their target price on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Compass Point boosted their price objective on shares of Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. DA Davidson decreased their price objective on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Stephens reissued an “overweight” rating and set a $72.00 price objective on shares of Comerica in a report on Wednesday, March 5th. Finally, UBS Group started coverage on shares of Comerica in a report on Tuesday, December 17th. They set a “sell” rating and a $64.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Comerica presently has a consensus rating of “Hold” and an average price target of $68.67.

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.