Oregon Public Employees Retirement Fund Sells 4,429 Shares of Comerica Incorporated (NYSE:CMA)

Oregon Public Employees Retirement Fund cut its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 14.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,800 shares of the financial services provider's stock after selling 4,429 shares during the period. Oregon Public Employees Retirement Fund's holdings in Comerica were worth $1,658,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its stake in shares of Comerica by 134.0% in the third 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 during the last quarter. Oppenheimer & Co. Inc. lifted its position in Comerica by 158.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 20,324 shares of the financial services provider's stock worth $1,218,000 after acquiring an additional 12,454 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Comerica by 5.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,306,042 shares of the financial services provider's stock valued at $257,975,000 after acquiring an additional 226,285 shares during the period. Citigroup Inc. grew its position in shares of Comerica by 390.6% in the third quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider's stock valued at $45,628,000 after purchasing an additional 606,375 shares during the last quarter. Finally, Wolverine Asset Management LLC bought a new position in shares of Comerica in the third quarter worth about $1,905,000. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Price Performance

Shares of CMA traded down $2.21 during trading hours on Tuesday, hitting $60.41. The stock had a trading volume of 2,215,919 shares, compared to its average volume of 2,050,201. The stock has a market capitalization of $7.93 billion, a price-to-earnings ratio of 12.04 and a beta of 1.25. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The company's fifty day moving average is $64.53 and its two-hundred day moving average is $63.28. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45.

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 quarter in the prior year, the firm earned $1.46 EPS. On average, analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica announced that its Board of Directors has authorized a share buyback plan on Tuesday, November 5th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 4.70%. Comerica's payout ratio is 56.57%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Keefe, Bruyette & Woods decreased their target price on Comerica from $82.00 to $77.00 and set an "outperform" rating for the company in a research note on Thursday, January 23rd. Barclays increased their price objective on Comerica from $66.00 to $68.00 and gave the company an "underweight" rating in a research report on Monday, January 6th. UBS Group started coverage on shares of Comerica in a research report on Tuesday, December 17th. They set a "sell" rating and a $64.00 target price on the stock. Truist Financial raised shares of Comerica to a "hold" rating in a report on Monday, January 6th. Finally, Morgan Stanley decreased their price target on shares of Comerica from $76.00 to $71.00 and set an "equal weight" rating on the stock in a research report on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $68.57.

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.