Meeder Asset Management Inc. Acquires 41,053 Shares of Comerica Incorporated (NYSE:CMA)

Meeder Asset Management Inc. lifted its holdings in shares of Comerica Incorporated (NYSE:CMA) by 95.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,187 shares of the financial services provider’s stock after buying an additional 41,053 shares during the quarter. Meeder Asset Management Inc.’s holdings in Comerica were worth $5,207,000 at the end of the most recent quarter.

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

Comerica Price Performance

Shares of NYSE:CMA opened at $58.73 on Monday. The company’s fifty day moving average is $63.07 and its 200 day moving average is $63.63. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45. The stock has a market cap of $7.71 billion, a PE ratio of 11.70 and a beta of 1.23.

Comerica (NYSE:CMA) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing the consensus estimate 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 company posted $1.46 earnings per share. Research analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.84 annualized dividend and a yield of 4.84%. Comerica’s payout ratio is currently 56.57%.

Analyst Upgrades and Downgrades

CMA has been the subject of a number of analyst reports. Keefe, Bruyette & Woods cut their price objective on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Argus raised shares of Comerica to a “hold” rating in a report on Friday, January 31st. Barclays upped their price target on shares of Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Stephens restated an “overweight” rating and set a $72.00 target price on shares of Comerica in a research report on Wednesday, March 5th. Finally, Compass Point raised their price target on Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. 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. According to data from MarketBeat, Comerica presently has an average rating of “Hold” and an average target price of $68.00.

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.