Point72 Europe London LLP Invests $4.77 Million in Comerica Incorporated (NYSE:CMA)

Point72 Europe London LLP purchased a new stake in Comerica Incorporated (NYSE:CMA) during the second quarter, according to its most recent filing with the SEC. The firm purchased 93,400 shares of the financial services provider’s stock, valued at approximately $4,767,000.

Several other hedge funds and other institutional investors have also bought and sold shares of CMA. Samlyn Capital LLC acquired a new stake in Comerica in the second quarter worth $35,375,000. Public Sector Pension Investment Board raised its stake in Comerica by 1,375.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 291,753 shares of the financial services provider’s stock worth $14,891,000 after buying an additional 271,974 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Comerica by 19.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,207 shares of the financial services provider’s stock worth $66,000 after acquiring an additional 199 shares in the last quarter. Profund Advisors LLC grew its stake in Comerica by 30.3% in the second quarter. Profund Advisors LLC now owns 6,225 shares of the financial services provider’s stock valued at $318,000 after acquiring an additional 1,449 shares during the period. Finally, Ensign Peak Advisors Inc grew its stake in Comerica by 21.4% in the second quarter. Ensign Peak Advisors Inc now owns 118,633 shares of the financial services provider’s stock valued at $6,055,000 after acquiring an additional 20,920 shares during the period. Institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Royal Bank of Canada decreased their price objective on Comerica from $58.00 to $56.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. JPMorgan Chase & Co. cut their price target on shares of Comerica from $62.00 to $57.00 and set a “neutral” rating on the stock in a research note on Thursday, June 27th. Raymond James raised shares of Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research report on Tuesday, July 2nd. Morgan Stanley boosted their price objective on shares of Comerica from $50.00 to $61.00 and gave the company an “equal weight” rating in a research report on Monday, August 5th. Finally, StockNews.com lowered shares of Comerica from a “hold” rating to a “sell” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $57.68.

Insider Activity at Comerica

In other Comerica news, EVP Christine M. Moore sold 2,545 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total transaction of $146,362.95. Following the completion of the sale, the executive vice president now directly owns 27,910 shares in the company, valued at $1,605,104.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by company insiders.

Comerica Price Performance

NYSE:CMA opened at $60.46 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. The firm has a fifty day simple moving average of $55.37 and a 200 day simple moving average of $52.78. Comerica Incorporated has a 1-year low of $37.40 and a 1-year high of $61.84. The stock has a market capitalization of $8.02 billion, a PE ratio of 12.02 and a beta of 1.23.

Comerica (NYSE:CMA) last released its quarterly earnings data on Friday, July 19th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.30. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $812.79 million. During the same quarter in the prior year, the company earned $2.01 earnings per share. On average, research analysts expect that Comerica Incorporated will post 5.06 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be paid a $0.71 dividend. The ex-dividend date is Friday, September 13th. This represents a $2.84 dividend on an annualized basis and a yield of 4.70%. Comerica’s dividend payout ratio (DPR) is currently 56.46%.

Comerica 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.