Great Lakes Advisors LLC Has $8.38 Million Stock Holdings in Comerica Incorporated (NYSE:CMA)

Great Lakes Advisors LLC increased its holdings in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 73.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 135,556 shares of the financial services provider's stock after purchasing an additional 57,468 shares during the period. Great Lakes Advisors LLC owned 0.10% of Comerica worth $8,384,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Atria Investments Inc purchased a new position in shares of Comerica in the third quarter valued at $219,000. Crossmark Global Holdings Inc. lifted its stake in shares of Comerica by 50.6% in the third quarter. Crossmark Global Holdings Inc. now owns 9,366 shares of the financial services provider's stock worth $561,000 after acquiring an additional 3,146 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its stake in shares of Comerica by 10.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 41,542 shares of the financial services provider's stock valued at $2,489,000 after buying an additional 3,939 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Comerica by 38.2% during the 3rd quarter. Victory Capital Management Inc. now owns 43,328 shares of the financial services provider's stock valued at $2,596,000 after acquiring an additional 11,981 shares during the last quarter. Finally, Oppenheimer & Co. Inc. boosted its stake in Comerica by 158.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 20,324 shares of the financial services provider's stock valued at $1,218,000 after acquiring an additional 12,454 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on CMA. Robert W. Baird upped their target price on shares of Comerica from $75.00 to $80.00 and gave the company an "outperform" rating in a research note on Tuesday, February 11th. Royal Bank of Canada cut their price objective on shares of 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 raised shares of Comerica to a "hold" rating in a report on Monday, January 6th. UBS Group initiated coverage on Comerica in a research report on Tuesday, December 17th. They set a "sell" rating and a $64.00 price target on the stock. Finally, The Goldman Sachs Group downgraded shares of Comerica from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $85.00 to $71.00 in a report on Tuesday, January 7th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Comerica currently has an average rating of "Hold" and a consensus price target of $68.29.

Comerica Stock Up 0.4 %

CMA traded up $0.26 during trading on Monday, reaching $57.95. 1,771,024 shares of the stock traded hands, compared to its average volume of 2,135,675. The stock's 50-day simple moving average is $63.81 and its two-hundred day simple moving average is $63.40. 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 Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The stock has a market cap of $7.61 billion, a price-to-earnings ratio of 11.54 and a beta of 1.23.

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

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.84 annualized dividend and a yield of 4.90%. Comerica's dividend payout ratio (DPR) is currently 56.57%.

Comerica 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.