Amundi Buys 111,005 Shares of Comerica Incorporated (NYSE:CMA)

Amundi grew its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 342.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,384 shares of the financial services provider's stock after acquiring an additional 111,005 shares during the period. Amundi owned 0.11% of Comerica worth $8,931,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in Comerica by 134.0% in the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider's stock worth $51,309,000 after purchasing an additional 490,468 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Comerica by 158.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 20,324 shares of the financial services provider's stock worth $1,218,000 after acquiring an additional 12,454 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Comerica by 5.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,306,042 shares of the financial services provider's stock worth $257,975,000 after acquiring an additional 226,285 shares in the last quarter. Citigroup Inc. increased its holdings in shares of Comerica by 390.6% during the 3rd quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider's stock valued at $45,628,000 after acquiring an additional 606,375 shares during the last quarter. Finally, Petiole USA ltd raised its stake in shares of Comerica by 164.7% in the 3rd quarter. Petiole USA ltd now owns 57,855 shares of the financial services provider's stock valued at $3,466,000 after acquiring an additional 36,000 shares in the last quarter. Institutional investors own 80.74% of the company's stock.

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Comerica Price Performance

NYSE CMA traded up $0.44 during trading on Tuesday, reaching $58.37. 1,618,346 shares of the company traded hands, compared to its average volume of 2,041,636. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. The company has a market cap of $7.67 billion, a price-to-earnings ratio of 11.63 and a beta of 1.23. The stock's 50 day moving average price is $63.70 and its two-hundred day moving average price is $63.41. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same quarter in the prior year, the company earned $1.46 EPS. As a group, analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 4.87%. The ex-dividend date of this dividend is Friday, March 14th. Comerica's payout ratio is currently 56.57%.

Analyst Upgrades and Downgrades

Several brokerages have commented on CMA. DA Davidson lowered their price target on Comerica from $71.00 to $67.00 and set a "neutral" rating on the stock in a report on Thursday, January 23rd. The Goldman Sachs Group downgraded shares of Comerica from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $85.00 to $71.00 in a report on Tuesday, January 7th. Keefe, Bruyette & Woods decreased their price target on shares of Comerica from $82.00 to $77.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. UBS Group began coverage on Comerica in a research note on Tuesday, December 17th. They issued a "sell" rating and a $64.00 price objective on the stock. Finally, Piper Sandler increased their target price on Comerica from $64.00 to $72.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $68.29.

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.