Commonwealth Equity Services LLC Buys 7,741 Shares of Comerica Incorporated (NYSE:CMA)

Commonwealth Equity Services LLC increased its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 10.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,011 shares of the financial services provider's stock after purchasing an additional 7,741 shares during the period. Commonwealth Equity Services LLC owned 0.06% of Comerica worth $5,196,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CMA. State Street Corp increased its stake in shares of Comerica by 2.0% in the third quarter. State Street Corp now owns 4,977,670 shares of the financial services provider's stock worth $301,745,000 after buying an additional 96,084 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Comerica by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider's stock worth $274,092,000 after acquiring an additional 125,514 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Comerica by 3.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider's stock valued at $153,462,000 after acquiring an additional 72,391 shares in the last quarter. Azora Capital LP boosted its position in shares of Comerica by 7.8% in the third quarter. Azora Capital LP now owns 2,230,369 shares of the financial services provider's stock worth $133,621,000 after buying an additional 161,181 shares during the period. Finally, Geode Capital Management LLC raised its position in Comerica by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,111,845 shares of the financial services provider's stock valued at $126,555,000 after buying an additional 29,661 shares during the period. Institutional investors and hedge funds own 80.74% of the company's stock.

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Comerica Trading Up 0.6 %

Shares of CMA stock traded up $0.39 during mid-day trading on Tuesday, hitting $60.87. The company's stock had a trading volume of 1,589,496 shares, compared to its average volume of 2,041,507. The company's fifty day simple moving average is $63.41 and its 200-day simple moving average is $63.57. The company has a market cap of $7.99 billion, a PE ratio of 12.13 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. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share 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 business posted $1.46 EPS. As a group, equities research analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, March 14th. This represents a $2.84 annualized dividend and a yield of 4.67%. Comerica's payout ratio is currently 56.57%.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on CMA. Piper Sandler increased 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. JPMorgan Chase & Co. cut their price objective on Comerica from $73.00 to $70.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Argus upgraded Comerica to a "hold" rating in a research note on Friday, January 31st. Morgan Stanley decreased their target price on Comerica from $71.00 to $63.00 and set an "equal weight" rating for the company in a research report on Thursday, March 13th. Finally, Robert W. Baird upped their price target on shares of Comerica from $75.00 to $80.00 and gave the company an "outperform" rating in a report on Tuesday, February 11th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Comerica currently has an average rating of "Hold" and an average target price 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.