Geode Capital Management LLC Raises Position in Comerica Incorporated (NYSE:CMA)

Geode Capital Management LLC grew its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 4.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,214,963 shares of the financial services provider's stock after acquiring an additional 103,118 shares during the period. Geode Capital Management LLC owned about 1.68% of Comerica worth $137,039,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Trust Co. of Vermont lifted its stake in Comerica by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock worth $26,000 after purchasing an additional 321 shares in the last quarter. Luken Investment Analytics LLC purchased a new stake in shares of Comerica in the fourth quarter worth about $31,000. MCF Advisors LLC boosted its stake in Comerica by 56.3% during the fourth 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 purchased a new position in Comerica during the 3rd quarter valued at approximately $42,000. Finally, V Square Quantitative Management LLC increased its stake in Comerica by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock worth $51,000 after acquiring an additional 221 shares during the last quarter. Institutional investors own 80.74% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on CMA. Barclays increased their target price on Comerica from $66.00 to $68.00 and gave the company an "underweight" rating in a research report on Monday, January 6th. Wells Fargo & Company dropped their price objective on shares of Comerica from $70.00 to $67.00 and set an "equal weight" rating for the company in a research note on Friday, March 28th. Stephens downgraded shares of Comerica from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $66.00 to $64.00 in a report on Monday, March 31st. Royal Bank of Canada lowered their price objective on Comerica from $78.00 to $76.00 and set an "outperform" rating for the company in a research note on Thursday, January 23rd. Finally, Truist Financial raised shares of Comerica to a "hold" rating in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $68.16.

Remove Ads

Comerica Stock Down 0.9 %

NYSE CMA traded down $0.47 during trading on Friday, reaching $50.83. 2,619,047 shares of the company's stock traded hands, compared to its average volume of 2,205,572. The company's 50 day simple moving average is $60.35 and its two-hundred day simple moving average is $63.12. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 10.13 and a beta of 0.96. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing analysts' consensus estimates 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 in the prior year, the company posted $1.46 earnings per share. As a group, sell-side analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.71 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $2.84 annualized dividend and a yield of 5.59%. Comerica's dividend payout ratio (DPR) is presently 56.57%.

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.