Nisa Investment Advisors LLC Acquires 17,395 Shares of Comerica Incorporated (NYSE:CMA)

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Nisa Investment Advisors LLC boosted its holdings in Comerica Incorporated (NYSE:CMA) by 34.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 67,250 shares of the financial services provider’s stock after purchasing an additional 17,395 shares during the period. Nisa Investment Advisors LLC’s holdings in Comerica were worth $2,562,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of CMA. Cerebellum GP LLC bought a new position in shares of Comerica during the second quarter valued at about $38,000. Jacobi Capital Management LLC raised its stake in shares of Comerica by 117.6% during the second quarter. Jacobi Capital Management LLC now owns 681 shares of the financial services provider’s stock valued at $26,000 after acquiring an additional 368 shares during the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Comerica by 1,236.5% during the second quarter. Valeo Financial Advisors LLC now owns 842 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 779 shares during the last quarter. Lindbrook Capital LLC raised its stake in shares of Comerica by 65.2% during the first quarter. Lindbrook Capital LLC now owns 846 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 334 shares during the last quarter. Finally, Ellevest Inc. raised its stake in shares of Comerica by 227.9% during the second quarter. Ellevest Inc. now owns 987 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 686 shares during the last quarter. 80.45% of the stock is owned by institutional investors and hedge funds.

Several brokerages recently issued reports on CMA. Nomura Securities reduced their price target on shares of Comerica from $66.00 to $31.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Wedbush upgraded shares of Comerica from a “neutral” rating to an “outperform” rating and set a $54.00 price target on the stock in a research report on Tuesday, June 9th. B. Riley upgraded shares of Comerica from a “neutral” rating to a “buy” rating and boosted their price target for the company from $35.00 to $50.00 in a research report on Thursday, June 4th. Nomura reiterated a “hold” rating and set a $31.00 price target on shares of Comerica in a research report on Wednesday, April 22nd. Finally, Odeon Capital Group cut shares of Comerica from a “hold” rating to a “sell” rating and set a $32.70 price target on the stock. in a research report on Wednesday, July 22nd. Seven equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. Comerica has a consensus rating of “Hold” and a consensus price target of $45.31.

NYSE:CMA opened at $38.52 on Friday. The company’s 50 day moving average price is $36.93 and its 200-day moving average price is $42.39. Comerica Incorporated has a 52 week low of $24.28 and a 52 week high of $74.04. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.88. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 12.55 and a beta of 1.85.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Tuesday, July 21st. The financial services provider reported $0.80 EPS for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.59. Comerica had a net margin of 17.42% and a return on equity of 8.22%. The firm had revenue of $718.00 million for the quarter, compared to analysts’ expectations of $700.17 million. During the same quarter in the prior year, the company posted $1.94 earnings per share. The business’s revenue for the quarter was down 15.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Comerica Incorporated will post 1.78 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a dividend yield of 7.06%. The ex-dividend date is Monday, September 14th. Comerica’s payout ratio is 34.83%.

Comerica Company Profile

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business Bank segment offers various products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services middle market businesses, multinational corporations, and governmental entities.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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