Jacobs Levy Equity Management Inc. Has $86.35 Million Stock Position in Comerica Incorporated (NYSE:CMA)

Jacobs Levy Equity Management Inc. raised its holdings in Comerica Incorporated (NYSE:CMA) by 39.2% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 1,396,095 shares of the financial services provider’s stock after acquiring an additional 393,507 shares during the quarter. Jacobs Levy Equity Management Inc. owned approximately 1.06% of Comerica worth $86,348,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Wedmont Private Capital boosted its position in shares of Comerica by 2.4% during the 4th quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 186 shares in the last quarter. Blue Trust Inc. grew its position in shares of Comerica by 5.2% during the 4th quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock worth $242,000 after buying an additional 200 shares during the period. Bessemer Group Inc. increased its stake in shares of Comerica by 2.0% in the 4th quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider’s stock valued at $672,000 after acquiring an additional 211 shares in the last quarter. V Square Quantitative Management LLC lifted its position 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 valued at $51,000 after acquiring an additional 221 shares during the period. Finally, US Bancorp DE boosted its stake in Comerica by 2.0% during the fourth quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock worth $731,000 after acquiring an additional 227 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Comerica Trading Down 0.1 %

Shares of CMA opened at $55.98 on Friday. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The business has a 50-day moving average of $55.51 and a 200 day moving average of $62.19. The firm has a market cap of $7.36 billion, a P/E ratio of 11.15 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97.

Comerica (NYSE:CMA) last posted its earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.11. The firm had revenue of $829.00 million during the quarter, compared to the consensus estimate of $839.31 million. Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same quarter last year, the company earned $1.29 earnings per share. As a group, research analysts forecast that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date is Friday, June 13th. Comerica’s payout ratio is currently 53.69%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CMA shares. UBS Group raised shares of Comerica from a “sell” rating to a “neutral” rating and set a $59.00 price target for the company in a research report on Thursday, April 10th. Robert W. Baird decreased their target price on shares of Comerica from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Tuesday, April 22nd. Wells Fargo & Company dropped their price target on shares of Comerica from $67.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 22nd. Evercore ISI lowered Comerica from an “in-line” rating to an “underperform” rating and decreased their price objective for the stock from $65.00 to $50.00 in a report on Tuesday, April 22nd. Finally, JPMorgan Chase & Co. lowered Comerica from a “neutral” rating to an “underweight” rating and dropped their target price for the company from $64.00 to $52.00 in a report on Tuesday, April 22nd. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Comerica has a consensus rating of “Hold” and a consensus price target of $63.22.

Comerica 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.