Bailard Inc. grew its holdings in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 231.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,600 shares of the financial services provider's stock after buying an additional 8,100 shares during the period. Bailard Inc.'s holdings in Comerica were worth $717,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Wealth Enhancement Advisory Services LLC boosted its position in Comerica by 31.1% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,335 shares of the financial services provider's stock worth $559,000 after acquiring an additional 2,215 shares during the period. US Bancorp DE grew its position in Comerica by 29.1% in the 3rd quarter. US Bancorp DE now owns 11,596 shares of the financial services provider's stock valued at $695,000 after buying an additional 2,615 shares in the last quarter. Farther Finance Advisors LLC increased its stake in shares of Comerica by 43.6% during the third quarter. Farther Finance Advisors LLC now owns 4,120 shares of the financial services provider's stock valued at $247,000 after acquiring an additional 1,251 shares during the period. Van ECK Associates Corp lifted its position in Comerica by 1.1% in the third quarter. Van ECK Associates Corp now owns 48,152 shares of the financial services provider's stock worth $2,986,000 after purchasing an additional 525 shares during the period. Finally, FSM Wealth Advisors LLC bought a new position in Comerica during the 3rd quarter valued at $215,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.
Comerica Stock Down 0.2 %
CMA stock traded down $0.13 during midday trading on Friday, reaching $58.34. The company had a trading volume of 3,152,098 shares, compared to its average volume of 2,121,532. The company has a 50 day moving average of $64.34 and a two-hundred day moving average of $63.25. The company has a market capitalization of $7.66 billion, a P/E ratio of 11.62 and a beta of 1.25. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.
Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings data 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 return on equity of 12.04% and a net margin of 13.98%. During the same period in the previous year, the business earned $1.46 EPS. On average, equities research analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.
Comerica Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.71 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 4.87%. Comerica's dividend payout ratio is currently 56.57%.
Wall Street Analyst Weigh In
A number of analysts have recently commented on the company. UBS Group assumed 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. Piper Sandler boosted their price target on shares of Comerica from $64.00 to $72.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Stephens restated an "overweight" rating and set a $72.00 price objective on shares of Comerica in a research report on Wednesday. Wells Fargo & Company upgraded shares of Comerica from an "underweight" rating to an "equal weight" rating and boosted their target price for the stock from $51.00 to $73.00 in a report on Friday, November 15th. Finally, Royal Bank of Canada reduced their target price on shares of Comerica from $78.00 to $76.00 and set an "outperform" rating for the company in a report on Thursday, January 23rd. Three 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's stock. According to MarketBeat, Comerica presently has an average rating of "Hold" and an average target price of $68.67.
Get Our Latest Analysis on Comerica
About Comerica
(
Free Report)
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.
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