KBC Group NV Has $223,000 Stock Position in Comerica Incorporated $CMA

KBC Group NV lowered its position in shares of Comerica Incorporated (NYSE:CMA) by 34.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,746 shares of the financial services provider’s stock after selling 2,012 shares during the quarter. KBC Group NV’s holdings in Comerica were worth $223,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Primecap Management Co. CA grew its position in Comerica by 228.8% during the 1st quarter. Primecap Management Co. CA now owns 1,670,110 shares of the financial services provider’s stock worth $98,637,000 after purchasing an additional 1,162,110 shares in the last quarter. Azora Capital LP boosted its position in shares of Comerica by 53.7% in the first quarter. Azora Capital LP now owns 1,899,198 shares of the financial services provider’s stock worth $112,167,000 after buying an additional 663,513 shares during the period. Kodai Capital Management LP purchased a new position in shares of Comerica during the first quarter valued at $32,864,000. Dimensional Fund Advisors LP raised its position in Comerica by 9.4% during the first quarter. Dimensional Fund Advisors LP now owns 5,508,229 shares of the financial services provider’s stock valued at $325,308,000 after buying an additional 472,409 shares during the period. Finally, Invesco Ltd. lifted its stake in Comerica by 48.7% in the 1st quarter. Invesco Ltd. now owns 1,183,213 shares of the financial services provider’s stock worth $69,881,000 after acquiring an additional 387,527 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Price Performance

Shares of CMA opened at $76.15 on Wednesday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 0.96. The firm has a market cap of $9.73 billion, a PE ratio of 14.53 and a beta of 1.04. The firm’s 50 day moving average price is $74.72 and its 200 day moving average price is $66.81. Comerica Incorporated has a twelve month low of $48.12 and a twelve month high of $83.22.

Comerica (NYSE:CMA) last posted its earnings results on Monday, December 9th. The financial services provider reported $1.53 EPS for the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. The company had revenue of $824.00 million during the quarter. As a group, research analysts expect that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Monday, December 15th will be issued a $0.71 dividend. The ex-dividend date is Monday, December 15th. This represents a $2.84 dividend on an annualized basis and a yield of 3.7%. Comerica’s dividend payout ratio is currently 54.20%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Cowen started coverage on Comerica in a research note on Wednesday, September 24th. They set a “hold” rating on the stock. Jefferies Financial Group boosted their price objective on shares of Comerica from $75.00 to $85.00 and gave the company a “hold” rating in a research report on Tuesday, October 7th. Morgan Stanley upgraded shares of Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 price objective on the stock in a research note on Tuesday, October 7th. Weiss Ratings lowered shares of Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $93.00 price target (up from $73.00) on shares of Comerica in a report on Friday, October 10th. Three investment analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $74.55.

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.