Independent Advisor Alliance Purchases New Shares in Comerica Incorporated (NYSE:CMA)

Independent Advisor Alliance acquired a new position in Comerica Incorporated (NYSE:CMA) in the 4th quarter, Holdings Channel reports. The firm acquired 3,337 shares of the financial services provider’s stock, valued at approximately $206,000.

Other large investors have also recently modified their holdings of the company. Trust Co. of Vermont lifted its holdings in Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after buying an additional 321 shares during the period. Luken Investment Analytics LLC bought a new position in shares of Comerica in the 4th quarter worth approximately $31,000. MCF Advisors LLC lifted its stake in shares of Comerica by 56.3% in the 4th 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 during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of Comerica during the third quarter valued at approximately $42,000. Finally, V Square Quantitative Management LLC grew its stake in Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 221 shares during the period. Institutional investors own 80.74% of the company’s stock.

Comerica Price Performance

NYSE CMA opened at $59.06 on Thursday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. The stock has a market capitalization of $7.76 billion, a price-to-earnings ratio of 11.77 and a beta of 1.23. The business’s fifty day moving average price is $63.56 and its 200-day moving average price is $63.39.

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

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given 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 4.81%. Comerica’s dividend payout ratio (DPR) is 56.57%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CMA shares. Keefe, Bruyette & Woods dropped their target price on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. JPMorgan Chase & Co. dropped their price objective on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Robert W. Baird raised 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. Barclays boosted their price target on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Finally, Compass Point raised their price objective on Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $68.29.

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.