Securian Asset Management Inc. Invests $615,000 in Comerica Incorporated (NYSE:CMA)

Securian Asset Management Inc. acquired a new position in shares of Comerica Incorporated (NYSE:CMA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 9,942 shares of the financial services provider’s stock, valued at approximately $615,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wedmont Private Capital lifted its holdings 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 worth $474,000 after acquiring an additional 186 shares during the period. Blue Trust Inc. lifted its holdings 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 period. V Square Quantitative Management LLC lifted its holdings 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 worth $51,000 after acquiring an additional 221 shares during the period. US Bancorp DE increased its position in shares of Comerica by 2.0% during 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 increased its position in shares of Comerica by 56.3% during 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 in the last quarter. 80.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. DA Davidson dropped their target price on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. Royal Bank of Canada dropped their target price on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Robert W. Baird increased their target price on shares of Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Morgan Stanley dropped their target price on shares of Comerica from $71.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday. Finally, UBS Group assumed coverage on shares of Comerica in a research report on Tuesday, December 17th. They set a “sell” rating and a $64.00 target price for the company. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $68.29.

Comerica Stock Up 1.2 %

Shares of NYSE:CMA opened at $57.75 on Monday. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45. The company has a 50 day moving average of $63.81 and a 200-day moving average of $63.40. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market cap of $7.58 billion, a price-to-earnings ratio of 11.50 and a beta of 1.23.

Comerica (NYSE:CMA) last released 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 quarter in the prior year, the business posted $1.46 EPS. On average, sell-side analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.92%. The ex-dividend date of this dividend is Friday, March 14th. Comerica’s payout ratio 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.