Azimuth Capital Investment Management LLC Has $1.50 Million Stock Holdings in Comerica Incorporated (NYSE:CMA)

Azimuth Capital Investment Management LLC lowered its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 24.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 24,187 shares of the financial services provider's stock after selling 7,647 shares during the quarter. Azimuth Capital Investment Management LLC's holdings in Comerica were worth $1,496,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Trust Co. of Vermont raised its holdings in shares of Comerica by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock valued at $26,000 after buying an additional 321 shares during the period. Luken Investment Analytics LLC acquired a new position in shares of Comerica during the fourth quarter worth $31,000. MCF Advisors LLC boosted its position in Comerica by 56.3% in the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock valued at $39,000 after buying an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Comerica in the third quarter worth about $42,000. Finally, V Square Quantitative Management LLC boosted its holdings in Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 221 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Comerica Stock Up 2.4 %

NYSE:CMA traded up $1.24 on Tuesday, hitting $53.44. 640,536 shares of the company's stock traded hands, compared to its average volume of 2,199,886. The company has a market cap of $7.01 billion, a PE ratio of 10.65 and a beta of 0.96. 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. The firm has a 50-day moving average price of $60.03 and a 200-day moving average price of $63.09.

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

Comerica Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th were issued a dividend of $0.71 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.84 annualized dividend and a dividend yield of 5.31%. Comerica's dividend payout ratio is 56.57%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. 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. Wells Fargo & Company reduced their target price on Comerica from $70.00 to $67.00 and set an "equal weight" rating on the stock in a report on Friday, March 28th. Keefe, Bruyette & Woods dropped their price target on Comerica from $82.00 to $77.00 and set an "outperform" rating on the stock in a research report on Thursday, January 23rd. Truist Financial upgraded Comerica to a "hold" rating in a research note on Monday, January 6th. Finally, JPMorgan Chase & Co. lowered their target price on Comerica from $73.00 to $70.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $68.16.

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.