Principal Street Partners LLC Has $5.92 Million Stake in Comerica Incorporated (NYSE:CMA)

Principal Street Partners LLC increased its stake in Comerica Incorporated (NYSE:CMA) by 0.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 95,627 shares of the financial services provider’s stock after purchasing an additional 775 shares during the quarter. Principal Street Partners LLC’s holdings in Comerica were worth $5,915,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CMA. Independent Advisor Alliance bought a new stake in shares of Comerica in the fourth quarter valued at about $206,000. Bank of Nova Scotia acquired a new stake in Comerica in the 4th quarter valued at approximately $1,320,000. Jupiter Asset Management Ltd. bought a new stake in Comerica in the 4th quarter valued at approximately $82,419,000. Franklin Resources Inc. lifted its stake in Comerica by 251.1% in the 4th quarter. Franklin Resources Inc. now owns 51,573 shares of the financial services provider’s stock valued at $3,190,000 after acquiring an additional 36,883 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its position in Comerica by 220.9% during the 4th quarter. Jones Financial Companies Lllp now owns 10,762 shares of the financial services provider’s stock worth $666,000 after acquiring an additional 7,408 shares during the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on CMA shares. Argus upgraded shares of Comerica to a “hold” rating in a report on Friday, January 31st. Stephens downgraded shares of Comerica from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $66.00 to $64.00 in a research report on Monday, March 31st. DA Davidson lowered their price target on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Royal Bank of Canada reduced their price objective on shares of Comerica from $75.00 to $65.00 and set an “outperform” rating for the company in a research note on Tuesday, April 22nd. Finally, Evercore ISI cut Comerica from an “in-line” rating to an “underperform” rating and decreased their price objective for the company from $65.00 to $50.00 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 assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $63.22.

Comerica Stock Down 0.3%

CMA stock opened at $58.59 on Tuesday. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. The business’s 50 day simple moving average is $55.58 and its 200 day simple moving average is $61.99. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $7.70 billion, a PE ratio of 11.67 and a beta of 0.92.

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

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 4.85%. The ex-dividend date is Friday, June 13th. Comerica’s payout ratio is 53.69%.

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.