PNC Financial Services Group Inc. trimmed its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 10.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,980 shares of the financial services provider's stock after selling 4,935 shares during the period. PNC Financial Services Group Inc.'s holdings in Comerica were worth $2,535,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of CMA. LHM Inc. boosted its stake in shares of Comerica by 209.2% during the 4th quarter. LHM Inc. now owns 135,252 shares of the financial services provider's stock worth $8,461,000 after purchasing an additional 91,512 shares during the period. Raymond James Financial Inc. purchased a new stake in Comerica in the 4th quarter valued at about $7,787,000. Arizona State Retirement System boosted its position in Comerica by 0.9% in the 4th quarter. Arizona State Retirement System now owns 38,504 shares of the financial services provider's stock valued at $2,381,000 after buying an additional 326 shares during the period. Aigen Investment Management LP bought a new stake in shares of Comerica in the 4th quarter valued at about $602,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Comerica in the 4th quarter valued at about $6,901,000. 80.74% of the stock is currently owned by institutional investors.
Comerica Trading Up 0.8 %
CMA stock traded up $0.44 during mid-day trading on Tuesday, hitting $58.37. 1,618,346 shares of the company were exchanged, compared to its average volume of 2,041,636. The business has a fifty day simple moving average of $63.70 and a 200-day simple moving average of $63.41. 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 Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45. The firm has a market capitalization of $7.67 billion, a P/E ratio of 11.63 and a beta of 1.23.
Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 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 quarter in the previous year, the business posted $1.46 earnings per share. On average, equities research analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.
Comerica Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $0.71 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 4.87%. Comerica's dividend payout ratio is currently 56.57%.
Wall Street Analysts Forecast Growth
Several research analysts recently commented on CMA shares. Stephens reiterated an "overweight" rating and set a $72.00 price objective on shares of Comerica in a research note on Wednesday, March 5th. Truist Financial upgraded shares of Comerica to a "hold" rating in a research note on Monday, January 6th. Barclays upped their price target on shares of Comerica from $66.00 to $68.00 and gave the company an "underweight" rating in a research note on Monday, January 6th. UBS Group began coverage on shares of Comerica in a research note on Tuesday, December 17th. They set a "sell" rating and a $64.00 price target on the stock. Finally, Royal Bank of Canada dropped their price objective on shares of Comerica from $78.00 to $76.00 and set an "outperform" rating on the stock in a 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 issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $68.29.
Get Our Latest Stock Analysis on Comerica
Comerica Company Profile
(
Free Report)
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.
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