Catalyst Funds Management Pty Ltd Purchases 8,900 Shares of Comerica Incorporated (NYSE:CMA)

Catalyst Funds Management Pty Ltd boosted its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 741.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,100 shares of the financial services provider's stock after purchasing an additional 8,900 shares during the quarter. Catalyst Funds Management Pty Ltd's holdings in Comerica were worth $625,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Atria Investments Inc bought a new position in Comerica during the 3rd quarter worth $219,000. Crossmark Global Holdings Inc. increased its position in shares of Comerica by 50.6% in the third quarter. Crossmark Global Holdings Inc. now owns 9,366 shares of the financial services provider's stock worth $561,000 after purchasing an additional 3,146 shares during the period. Victory Capital Management Inc. raised its stake in Comerica by 38.2% in the third quarter. Victory Capital Management Inc. now owns 43,328 shares of the financial services provider's stock valued at $2,596,000 after purchasing an additional 11,981 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in Comerica by 158.2% during the third quarter. Oppenheimer & Co. Inc. now owns 20,324 shares of the financial services provider's stock worth $1,218,000 after purchasing an additional 12,454 shares during the period. Finally, KBC Group NV grew its stake in Comerica by 17.3% during the third quarter. KBC Group NV now owns 3,955 shares of the financial services provider's stock worth $237,000 after buying an additional 582 shares in the last quarter. Institutional investors own 80.74% of the company's stock.

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Analysts Set New Price Targets

A number of analysts have recently weighed in on CMA shares. Keefe, Bruyette & Woods cut 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. The Goldman Sachs Group cut Comerica from a "buy" rating to a "neutral" rating and cut their target price for the stock from $85.00 to $71.00 in a research note on Tuesday, January 7th. Piper Sandler lifted their price target on Comerica from $64.00 to $72.00 and gave the company a "neutral" rating in a research note 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, March 5th. Finally, Morgan Stanley decreased their target price on Comerica from $71.00 to $63.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Comerica currently has a consensus rating of "Hold" and a consensus price target of $68.29.

Comerica Trading Down 0.1 %

Shares of Comerica stock traded down $0.06 during midday trading on Thursday, reaching $59.04. The company had a trading volume of 1,171,230 shares, compared to its average volume of 2,095,955. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The stock has a fifty day moving average price of $63.56 and a 200 day moving average price of $63.39. The firm has a market cap of $7.75 billion, a PE ratio of 11.76 and a beta of 1.23.

Comerica (NYSE:CMA - Get Free Report) last released its 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 last year, the business posted $1.46 earnings per share. On average, equities analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend is Friday, March 14th. Comerica's payout ratio is 56.57%.

Comerica 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.