Renaissance Technologies LLC Boosts Stock Holdings in Comerica Incorporated (NYSE:CMA)

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Renaissance Technologies LLC raised its holdings in Comerica Incorporated (NYSE:CMA) by 361.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 222,042 shares of the financial services provider’s stock after purchasing an additional 173,895 shares during the period. Renaissance Technologies LLC’s holdings in Comerica were worth $16,129,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Zions Bancorporation N.A. purchased a new position in Comerica in the 1st quarter worth approximately $35,000. Creative Financial Designs Inc. ADV purchased a new position in Comerica in the 2nd quarter worth approximately $51,000. Kavar Capital Partners LLC purchased a new position in Comerica in the 2nd quarter worth approximately $73,000. Thor Advisors LLC purchased a new position in Comerica in the 1st quarter worth approximately $78,000. Finally, Pendal Group Ltd purchased a new position in Comerica in the 2nd quarter worth approximately $162,000. Hedge funds and other institutional investors own 86.54% of the company’s stock.

CMA stock traded down $0.03 during trading on Thursday, reaching $66.89. 37,317 shares of the stock traded hands, compared to its average volume of 1,839,244. The business’s 50 day moving average price is $63.12 and its 200-day moving average price is $71.99. Comerica Incorporated has a 52-week low of $58.54 and a 52-week high of $95.39. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.02 and a quick ratio of 1.02. The firm has a market capitalization of $9.93 billion, a PE ratio of 9.22, a P/E/G ratio of 0.60 and a beta of 1.52.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.94 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.01 by ($0.07). Comerica had a net margin of 33.29% and a return on equity of 16.92%. The firm had revenue of $853.00 million for the quarter, compared to analysts’ expectations of $859.09 million. During the same period last year, the firm posted $1.87 EPS. Comerica’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts predict that Comerica Incorporated will post 7.84 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.67 per share. This represents a $2.68 dividend on an annualized basis and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, September 12th. Comerica’s dividend payout ratio (DPR) is presently 37.02%.

A number of equities analysts have commented on CMA shares. Raymond James cut shares of Comerica from an “outperform” rating to a “market perform” rating in a research note on Monday, July 8th. UBS Group cut Comerica from a “buy” rating to a “neutral” rating and cut their price target for the stock from $100.00 to $73.00 in a report on Monday, August 5th. Odeon Capital Group cut Comerica from a “buy” rating to a “sell” rating in a report on Wednesday, September 4th. Bank of America cut Comerica from a “neutral” rating to an “underperform” rating and cut their price target for the stock from $85.00 to $71.00 in a report on Thursday, July 11th. Finally, ValuEngine raised Comerica from a “strong sell” rating to a “sell” rating in a report on Wednesday, September 4th. Seven research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $81.48.

About Comerica

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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