Meeder Asset Management Inc. Buys 41,053 Shares of Comerica Incorporated (NYSE:CMA)

Meeder Asset Management Inc. grew its position in Comerica Incorporated (NYSE:CMA) by 95.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 84,187 shares of the financial services provider’s stock after acquiring an additional 41,053 shares during the period. Meeder Asset Management Inc. owned 0.06% of Comerica worth $5,207,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Trust Co. of Vermont grew its holdings in Comerica by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 321 shares during the last quarter. Luken Investment Analytics LLC bought a new stake in shares of Comerica in the fourth quarter worth $31,000. MCF Advisors LLC grew its stake in shares of Comerica by 56.3% in the fourth 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 last quarter. Wilmington Savings Fund Society FSB bought a new position in Comerica during the 3rd quarter worth $42,000. Finally, V Square Quantitative Management LLC lifted its holdings in 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 buying an additional 221 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CMA shares. JPMorgan Chase & Co. lowered their price objective on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Argus upgraded shares of Comerica to a “hold” rating in a research report on Friday, January 31st. Wells Fargo & Company decreased their price objective on shares of Comerica from $70.00 to $67.00 and set an “equal weight” rating for the company in a research report on Friday. Keefe, Bruyette & Woods lowered their target price on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Finally, Stephens reiterated an “overweight” rating and set a $72.00 price target on shares of Comerica in a report on Wednesday, March 5th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $68.00.

Comerica Stock Down 1.5 %

CMA stock opened at $58.73 on Monday. The stock has a market cap of $7.71 billion, a P/E ratio of 11.70 and a beta of 1.23. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The stock’s fifty day simple moving average is $63.07 and its two-hundred day simple moving average is $63.63. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45.

Comerica (NYSE:CMA) last posted its quarterly earnings results 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 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. Analysts expect that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.84%. Comerica’s dividend payout ratio (DPR) is presently 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.