Bank of Montreal Can Purchases 1,712 Shares of Comerica Incorporated (NYSE:CMA)

Bank of Montreal Can increased its position in Comerica Incorporated (NYSE:CMA) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 276,016 shares of the financial services provider’s stock after purchasing an additional 1,712 shares during the period. Bank of Montreal Can owned approximately 0.21% of Comerica worth $17,072,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. FMR LLC lifted its holdings in shares of Comerica by 11.5% in the third quarter. FMR LLC now owns 35,009 shares of the financial services provider’s stock valued at $2,097,000 after purchasing an additional 3,599 shares in the last quarter. HighTower Advisors LLC grew its stake in shares of Comerica by 6.8% during the 3rd quarter. HighTower Advisors LLC now owns 40,915 shares of the financial services provider’s stock worth $2,450,000 after acquiring an additional 2,590 shares during the period. National Bank of Canada FI increased its stake in shares of Comerica by 364.5% in the third quarter. National Bank of Canada FI now owns 3,112 shares of the financial services provider’s stock worth $186,000 after purchasing an additional 2,442 shares in the last quarter. M&T Bank Corp raised its holdings in Comerica by 25.2% during the 3rd quarter. M&T Bank Corp now owns 12,568 shares of the financial services provider’s stock valued at $753,000 after acquiring an additional 2,530 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of Comerica by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,111,845 shares of the financial services provider’s stock valued at $126,555,000 after purchasing an additional 29,661 shares during the period. 80.74% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on CMA shares. Raymond James lowered their target price on shares of Comerica from $72.00 to $67.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 2nd. The Goldman Sachs Group cut shares of Comerica from a “buy” rating to a “neutral” rating and reduced their price target for the company from $85.00 to $71.00 in a research report on Tuesday, January 7th. Argus upgraded Comerica to a “hold” rating in a research report on Friday, January 31st. DA Davidson lowered their price objective on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Finally, Barclays raised their price target on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $68.16.

Comerica Stock Performance

Shares of CMA stock opened at $50.83 on Friday. The company’s 50-day moving average is $60.35 and its 200 day moving average is $63.12. The company has a market capitalization of $6.67 billion, a price-to-earnings ratio of 10.13 and a beta of 0.96. 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.

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 analysts’ consensus estimates 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 quarter in the previous year, the business earned $1.46 earnings per share. Sell-side analysts expect 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. Investors of record on Friday, March 14th were given a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 5.59%. Comerica’s dividend payout ratio (DPR) is 56.57%.

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.