Teacher Retirement System of Texas Acquires 29,633 Shares of Comerica Incorporated (NYSE:CMA)

Teacher Retirement System of Texas raised its holdings in shares of Comerica Incorporated (NYSE:CMA) by 193.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,918 shares of the financial services provider’s stock after acquiring an additional 29,633 shares during the quarter. Teacher Retirement System of Texas’ holdings in Comerica were worth $2,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Trust Co. of Vermont grew its position in shares of Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 321 shares in the last quarter. Luken Investment Analytics LLC bought a new position in Comerica in the 4th quarter worth about $31,000. MCF Advisors LLC grew its holdings in Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after buying an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Comerica during the third quarter valued at about $42,000. Finally, V Square Quantitative Management LLC lifted its holdings 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 worth $51,000 after buying an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

CMA has been the topic of a number of analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Comerica from $73.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, January 7th. Barclays increased their price objective on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Royal Bank of Canada dropped their price objective on Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. DA Davidson decreased their target price on Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Finally, Morgan Stanley dropped their price target on Comerica from $71.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, March 13th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $68.29.

Comerica Price Performance

CMA opened at $60.87 on Wednesday. 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’s 50 day simple moving average is $63.41 and its 200 day simple moving average is $63.57. The firm has a market cap of $7.99 billion, a price-to-earnings ratio of 12.13 and a beta of 1.23.

Comerica (NYSE:CMA) last issued its earnings results 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 return on equity of 12.04% and a net margin of 13.98%. During the same quarter in the previous year, the company earned $1.46 earnings per share. As a group, analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.67%. 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.