North Reef Capital Management LP Boosts Stock Holdings in Comerica Incorporated (NYSE:CMA)

North Reef Capital Management LP grew its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 15.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,050,000 shares of the financial services provider's stock after buying an additional 550,000 shares during the period. Comerica accounts for approximately 11.2% of North Reef Capital Management LP's portfolio, making the stock its largest holding. North Reef Capital Management LP owned approximately 3.08% of Comerica worth $250,492,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of CMA. Nebula Research & Development LLC raised its stake in Comerica by 83.1% in the fourth quarter. Nebula Research & Development LLC now owns 13,282 shares of the financial services provider's stock valued at $821,000 after purchasing an additional 6,029 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in Comerica by 681.7% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 312,678 shares of the financial services provider's stock valued at $19,339,000 after purchasing an additional 272,678 shares in the last quarter. MGO One Seven LLC purchased a new stake in Comerica in the fourth quarter valued at approximately $200,000. Price T Rowe Associates Inc. MD raised its stake in Comerica by 8.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 86,047 shares of the financial services provider's stock valued at $5,323,000 after purchasing an additional 6,746 shares in the last quarter. Finally, Hsbc Holdings PLC raised its stake in Comerica by 412.9% in the fourth quarter. Hsbc Holdings PLC now owns 31,240 shares of the financial services provider's stock valued at $1,930,000 after purchasing an additional 25,149 shares in the last quarter. 80.74% of the stock is currently owned by institutional investors.

Comerica Trading Up 1.5 %

Shares of NYSE CMA traded up $0.78 during midday trading on Monday, hitting $53.89. 1,256,021 shares of the company traded hands, compared to its average volume of 2,214,853. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45. 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 stock has a 50-day moving average price of $57.10 and a 200 day moving average price of $62.65. The firm has a market cap of $7.07 billion, a P/E ratio of 10.73 and a beta of 0.96.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.11. Comerica had a net margin of 13.98% and a return on equity of 12.04%. The company had revenue of $829.00 million for the quarter, compared to analysts' expectations of $839.31 million. During the same quarter in the previous year, the company earned $1.29 earnings per share. As a group, analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 5.27%. The ex-dividend date of this dividend was Friday, March 14th. Comerica's dividend payout ratio is currently 53.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on CMA shares. Argus raised shares of Comerica to a "hold" rating in a research note on Friday, January 31st. Keefe, Bruyette & Woods reduced their price target on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Barclays increased their price target 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. Robert W. Baird reduced their price target on shares of Comerica from $80.00 to $75.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Truist Financial reduced their price target on shares of Comerica from $65.00 to $57.00 and set a "hold" rating on the stock in a research report on Tuesday, April 22nd. Five analysts have rated the stock with a sell rating, ten have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $62.84.

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.