Comerica Incorporated (NYSE:CMA) Short Interest Update

Comerica Incorporated (NYSE:CMA - Get Free Report) saw a significant growth in short interest in February. As of February 28th, there was short interest totalling 6,260,000 shares, a growth of 17.7% from the February 13th total of 5,320,000 shares. Based on an average daily volume of 2,450,000 shares, the short-interest ratio is presently 2.6 days. Currently, 4.8% of the shares of the company are short sold.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Royal Bank of Canada lowered their target price on Comerica from $78.00 to $76.00 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 report on Monday, January 6th. UBS Group assumed coverage on Comerica in a research report on Tuesday, December 17th. They set a "sell" rating and a $64.00 target price on the stock. DA Davidson lowered their target price on Comerica from $71.00 to $67.00 and set a "neutral" rating on the stock in a research report on Thursday, January 23rd. Finally, Stephens reiterated an "overweight" rating and set a $72.00 target price on shares of Comerica in a research report on Wednesday, March 5th. Three equities 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. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $68.29.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in shares of Comerica by 2.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,035,820 shares of the financial services provider's stock valued at $311,464,000 after buying an additional 114,072 shares during the period. State Street Corp boosted its position in shares of Comerica by 2.0% during the third quarter. State Street Corp now owns 4,977,670 shares of the financial services provider's stock valued at $301,745,000 after buying an additional 96,084 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Comerica by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider's stock valued at $274,092,000 after buying an additional 125,514 shares during the period. North Reef Capital Management LP boosted its position in shares of Comerica by 15.7% during the fourth quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider's stock valued at $250,492,000 after buying an additional 550,000 shares during the period. Finally, Vaughan Nelson Investment Management L.P. boosted its position in shares of Comerica by 3.0% during the fourth 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 buying an additional 72,391 shares during the period. Hedge funds and other institutional investors own 80.74% of the company's stock.

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Comerica Trading Down 0.1 %

NYSE CMA traded down $0.03 during trading hours on Friday, hitting $58.99. 5,451,774 shares of the company were exchanged, compared to its average volume of 2,041,806. The stock has a 50-day moving average price of $63.47 and a 200 day moving average price of $63.43. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica has a 52 week low of $45.32 and a 52 week high of $73.45. The stock has a market cap of $7.74 billion, a PE ratio of 11.75 and a beta of 1.23.

Comerica (NYSE:CMA - Get Free Report) last issued 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 return on equity of 12.04% and a net margin of 13.98%. During the same period in the prior year, the firm earned $1.46 EPS. Analysts forecast that Comerica will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The firm also recently announced 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 dividend yield of 4.81%. Comerica's dividend payout ratio (DPR) is presently 56.57%.

About Comerica

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.