Teacher Retirement System of Texas Acquires 29,633 Shares of Comerica Incorporated (NYSE:CMA)

Teacher Retirement System of Texas boosted its stake in Comerica Incorporated (NYSE:CMA) by 193.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,918 shares of the financial services provider’s stock after acquiring an additional 29,633 shares during the period. Teacher Retirement System of Texas’ holdings in Comerica were worth $2,778,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CMA. Trust Co. of Vermont boosted its stake in shares of Comerica by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 321 shares in the last quarter. Luken Investment Analytics LLC purchased a new stake in Comerica in the fourth quarter worth about $31,000. MCF Advisors LLC boosted its position in Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after acquiring an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Comerica during the 3rd quarter worth approximately $42,000. Finally, V Square Quantitative Management LLC grew its holdings in shares of Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after acquiring an additional 221 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Price Performance

Shares of CMA opened at $60.87 on Wednesday. The firm has a fifty day simple moving average of $63.41 and a two-hundred day simple moving average of $63.57. The firm has a market cap of $7.99 billion, a PE ratio of 12.13 and a beta of 1.23. 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 1-year low of $45.32 and a 1-year high of $73.45.

Comerica (NYSE:CMA) last posted its quarterly earnings data 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 net margin of 13.98% and a return on equity of 12.04%. During the same period in the previous year, the firm posted $1.46 EPS. On average, equities analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The firm 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 annualized dividend and a yield of 4.67%. Comerica’s dividend payout ratio (DPR) is 56.57%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CMA shares. DA Davidson dropped their price target on Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Compass Point boosted their target price on shares of Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Stephens reiterated an “overweight” rating and issued a $72.00 price target on shares of Comerica in a research note on Wednesday, March 5th. Robert W. Baird boosted their price objective on shares of Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Finally, UBS Group began coverage on shares of Comerica in a research note on Tuesday, December 17th. They set a “sell” rating and a $64.00 target price for the company. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $68.29.

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.