LPL Financial LLC Raises Holdings in Comerica Incorporated (NYSE:CMA)

LPL Financial LLC lifted its holdings in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 16.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,620 shares of the financial services provider's stock after buying an additional 6,699 shares during the quarter. LPL Financial LLC's holdings in Comerica were worth $2,883,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. PL Capital Advisors LLC grew its position in shares of Comerica by 6,085.0% in the fourth quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider's stock valued at $109,981,000 after purchasing an additional 1,749,438 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in Comerica in the 4th quarter worth about $82,419,000. JPMorgan Chase & Co. increased its stake in Comerica by 134.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider's stock worth $51,309,000 after buying an additional 490,468 shares in the last quarter. Retirement Systems of Alabama acquired a new position in shares of Comerica during the fourth quarter valued at approximately $9,890,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Comerica in the fourth quarter valued at approximately $7,787,000. Hedge funds and other institutional investors own 80.74% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CMA. The Goldman Sachs Group downgraded Comerica from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $85.00 to $71.00 in a research note on Tuesday, January 7th. Truist Financial raised shares of Comerica to a "hold" rating in a research note on Monday, January 6th. JPMorgan Chase & Co. dropped their price objective on shares of Comerica from $73.00 to $70.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Robert W. Baird raised their target price on shares of Comerica from $75.00 to $80.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 11th. Finally, Barclays upped their price target on Comerica from $66.00 to $68.00 and gave the company an "underweight" rating in a research report on Monday, January 6th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $68.16.

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Comerica Trading Up 1.4 %

NYSE:CMA traded up $0.75 during trading hours on Tuesday, reaching $52.95. 1,769,708 shares of the stock were exchanged, compared to its average volume of 2,204,207. Comerica Incorporated has a twelve month low of $45.32 and a twelve month high of $73.45. The business has a 50-day moving average of $60.03 and a two-hundred day moving average of $63.09. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 10.55 and a beta of 0.96. 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 (NYSE:CMA - Get Free Report) last posted its 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 return on equity of 12.04% and a net margin of 13.98%. During the same period last year, the business posted $1.46 EPS. On average, equities analysts predict that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.36%. The ex-dividend date of this dividend was Friday, March 14th. Comerica's dividend payout ratio (DPR) is currently 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.