Mirae Asset Global Investments Co. Ltd. Increases Holdings in Comerica Incorporated (NYSE:CMA)

Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Comerica Incorporated (NYSE:CMA) by 73.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,771 shares of the financial services provider’s stock after purchasing an additional 23,947 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Comerica were worth $3,168,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Chilton Capital Management LLC purchased a new stake in shares of Comerica during the 1st quarter valued at $28,000. Fortitude Family Office LLC purchased a new stake in shares of Comerica during the 4th quarter valued at $36,000. Almanack Investment Partners LLC. purchased a new stake in shares of Comerica during the 3rd quarter valued at $38,000. Authentikos Wealth Advisory LLC purchased a new stake in shares of Comerica during the 3rd quarter valued at $47,000. Finally, Parkside Financial Bank & Trust increased its position in shares of Comerica by 25.1% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,150 shares of the financial services provider’s stock valued at $49,000 after purchasing an additional 231 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Stock Performance

Shares of CMA opened at $49.82 on Thursday. The stock has a 50-day moving average price of $51.39 and a 200-day moving average price of $49.14. The company has a market cap of $6.60 billion, a PE ratio of 7.74 and a beta of 1.27. Comerica Incorporated has a 12-month low of $28.40 and a 12-month high of $57.39. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.03.

Comerica (NYSE:CMA) last released its earnings results on Friday, January 19th. The financial services provider reported $1.46 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.08. The company had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $826.07 million. Comerica had a return on equity of 19.41% and a net margin of 16.71%. During the same quarter in the previous year, the company posted $2.58 EPS. As a group, equities analysts forecast that Comerica Incorporated will post 5.09 earnings per share for the current fiscal year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were given a $0.71 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 5.70%. Comerica’s payout ratio is 44.10%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Stephens reaffirmed an “overweight” rating and set a $64.00 target price on shares of Comerica in a research report on Wednesday, March 6th. DA Davidson reissued a “neutral” rating and issued a $56.00 price objective on shares of Comerica in a report on Wednesday, March 6th. Barclays lifted their price objective on Comerica from $49.00 to $59.00 and gave the stock an “underweight” rating in a report on Tuesday, January 2nd. Keefe, Bruyette & Woods decreased their price objective on Comerica from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Monday, January 22nd. Finally, Evercore ISI lifted their target price on Comerica from $55.00 to $58.00 and gave the company an “in-line” rating in a report on Thursday, March 28th. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Comerica currently has an average rating of “Hold” and a consensus target price of $57.67.

Insider Buying and Selling

In related news, EVP Wendy Bridges sold 3,034 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.74, for a total value of $160,013.16. Following the completion of the sale, the executive vice president now owns 17,460 shares in the company, valued at approximately $920,840.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Comerica news, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.74, for a total value of $160,013.16. Following the transaction, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the completion of the transaction, the executive vice president now directly owns 8,314 shares in the company, valued at $454,276.96. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

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.