Comerica Incorporated (NYSE:CMA) Shares Purchased by LHM Inc.

LHM Inc. lifted its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 209.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 135,252 shares of the financial services provider's stock after purchasing an additional 91,512 shares during the period. Comerica accounts for approximately 2.7% of LHM Inc.'s holdings, making the stock its 10th largest holding. LHM Inc. owned about 0.10% of Comerica worth $8,461,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. PL Capital Advisors LLC lifted its holdings in shares of Comerica by 6,085.0% during the 4th quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider's stock valued at $109,981,000 after purchasing an additional 1,749,438 shares in the last quarter. Citigroup Inc. grew its stake 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 worth $45,628,000 after acquiring an additional 606,375 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Comerica by 31.3% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,408,820 shares of the financial services provider's stock valued at $144,312,000 after purchasing an additional 574,516 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of 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. Finally, Primecap Management Co. CA acquired a new position in Comerica during the third quarter worth $26,630,000. Institutional investors and hedge funds own 80.74% of the company's stock.

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Comerica Price Performance

Shares of Comerica stock traded down $2.06 during midday trading on Monday, hitting $56.24. 2,426,252 shares of the company traded hands, compared to its average volume of 2,128,348. The stock has a market cap of $7.39 billion, a price-to-earnings ratio of 11.20 and a beta of 1.23. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The firm's fifty day moving average price is $64.27 and its 200-day moving average price is $63.37. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45.

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 return on equity of 12.04% and a net margin of 13.98%. During the same quarter last year, the company earned $1.46 EPS. As a group, sell-side analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.05%. The ex-dividend date of this dividend is Friday, March 14th. Comerica's payout ratio is 56.57%.

Analyst Upgrades and Downgrades

CMA has been the topic of a number of recent research reports. Stephens reaffirmed an "overweight" rating and issued a $72.00 target price on shares of Comerica in a research report on Wednesday, March 5th. UBS Group initiated coverage on Comerica in a research report on Tuesday, December 17th. They set a "sell" rating and a $64.00 price target on the stock. Barclays lifted their price objective on shares of Comerica from $66.00 to $68.00 and gave the company an "underweight" rating in a research report on Monday, January 6th. Piper Sandler upped their price objective on Comerica from $64.00 to $72.00 and gave the company a "neutral" rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company upgraded Comerica from an "underweight" rating to an "equal weight" rating and lifted their target price for the stock from $51.00 to $73.00 in a research note on Friday, November 15th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Comerica presently has an average rating of "Hold" and an average target price of $68.67.

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.