Raymond James Financial Inc. Buys Shares of 125,901 Comerica Incorporated (NYSE:CMA)

Raymond James Financial Inc. purchased a new position in shares of Comerica Incorporated (NYSE:CMA - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 125,901 shares of the financial services provider's stock, valued at approximately $7,787,000. Raymond James Financial Inc. owned 0.10% of Comerica at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Trust Co. of Vermont raised its holdings in Comerica by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock worth $26,000 after buying an additional 321 shares during the period. Luken Investment Analytics LLC bought a new stake in shares of Comerica during the fourth quarter worth $31,000. MCF Advisors LLC raised its holdings in shares of Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock worth $39,000 after acquiring an additional 228 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Comerica in the 3rd quarter valued at $42,000. Finally, V Square Quantitative Management LLC boosted 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 purchasing an additional 221 shares during the period. Institutional investors own 80.74% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Raymond James reduced their price objective on Comerica from $72.00 to $67.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Truist Financial reduced their price target on Comerica from $65.00 to $57.00 and set a "hold" rating for the company in a research report on Tuesday. Evercore ISI lowered shares of Comerica from an "in-line" rating to an "underperform" rating and cut their price objective for the stock from $65.00 to $50.00 in a research report on Tuesday. Stephens lowered shares of Comerica from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $66.00 to $64.00 in a research note on Monday, March 31st. Finally, JPMorgan Chase & Co. downgraded shares of Comerica from a "neutral" rating to an "underweight" rating and reduced their price objective for the stock from $64.00 to $52.00 in a research note on Tuesday. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $62.84.

Comerica Stock Performance

NYSE CMA opened at $51.51 on Wednesday. The stock has a market cap of $6.76 billion, a PE ratio of 10.26 and a beta of 0.96. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a 50-day moving average of $58.25 and a 200-day moving average of $62.79. 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 Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.14 by $0.11. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The company had revenue of $829.00 million during the quarter, compared to analysts' expectations of $839.31 million. During the same quarter in the previous year, the company posted $1.29 earnings per share. On average, sell-side analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.51%. The ex-dividend date was Friday, March 14th. Comerica's dividend payout ratio is 56.57%.

About Comerica

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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