Wellington Management Group LLP Invests $13.88 Million in Comerica Incorporated (NYSE:CMA)

Wellington Management Group LLP acquired a new stake in shares of Comerica Incorporated (NYSE:CMA) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 224,329 shares of the financial services provider’s stock, valued at approximately $13,875,000.

Other institutional investors also recently bought and sold shares of the company. Wedmont Private Capital increased 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 during the last quarter. Blue Trust Inc. boosted its stake 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 acquiring an additional 200 shares during the last quarter. V Square Quantitative Management LLC grew 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. US Bancorp DE increased its stake in shares of Comerica by 2.0% in the 4th quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock worth $731,000 after purchasing an additional 227 shares in the last quarter. Finally, MCF Advisors LLC raised its holdings 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. Institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

CMA has been the subject of a number of analyst reports. Keefe, Bruyette & Woods reduced their price target on Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. DA Davidson decreased 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. Compass Point upped their price target on shares of Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Royal Bank of Canada decreased their price objective on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $67.95.

Comerica Stock Down 2.0 %

NYSE CMA opened at $50.25 on Wednesday. The stock has a 50 day moving average price of $61.48 and a 200-day moving average price of $63.33. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The company has a market capitalization of $6.59 billion, a P/E ratio of 10.01 and a beta of 0.96.

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 net margin of 13.98% and a return on equity of 12.04%. During the same quarter in the prior year, the business posted $1.46 EPS. As a group, equities analysts predict that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.84 annualized dividend and a yield of 5.65%. Comerica’s payout ratio is currently 56.57%.

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.