Swiss National Bank Acquires 2,000 Shares of Comerica Incorporated (NYSE:CMA)

Swiss National Bank grew its holdings in Comerica Incorporated (NYSE:CMA) by 0.8% in the 4th quarter, Holdings Channel reports. The fund owned 261,000 shares of the financial services provider’s stock after purchasing an additional 2,000 shares during the quarter. Swiss National Bank’s holdings in Comerica were worth $16,143,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. Wedmont Private Capital boosted its position in shares of Comerica by 2.4% in the fourth quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock valued at $474,000 after acquiring an additional 186 shares during the period. Blue Trust Inc. raised its stake in shares of Comerica by 5.2% in the fourth quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 200 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 221 shares in the last quarter. US Bancorp DE raised its stake in shares of Comerica by 2.0% in the fourth quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock valued at $731,000 after purchasing an additional 227 shares in the last quarter. Finally, MCF Advisors LLC raised its stake in shares of Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 228 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on CMA shares. JPMorgan Chase & Co. cut their target price on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. UBS Group initiated coverage on Comerica in a research note on Tuesday, December 17th. They issued a “sell” rating and a $64.00 target price for the company. Morgan Stanley dropped their price objective on Comerica from $71.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. Robert W. Baird boosted their target price on shares of Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Finally, DA Davidson reduced their target price 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. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $68.29.

Comerica Stock Performance

Shares of NYSE:CMA opened at $58.37 on Wednesday. The stock has a market capitalization of $7.67 billion, a P/E ratio of 11.63 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 current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The business has a 50-day moving average price of $63.62 and a two-hundred day moving average price of $63.42.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share 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 prior year, the firm earned $1.46 EPS. Equities analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, March 14th. This represents a $2.84 annualized dividend and a yield of 4.87%. Comerica’s dividend payout ratio is currently 56.57%.

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.