Raymond James Financial Inc. purchased a new stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor 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 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Wedmont Private Capital grew its position in Comerica by 2.4% during the 4th quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider's stock worth $474,000 after acquiring an additional 186 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Comerica by 5.2% during the fourth quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider's stock valued at $242,000 after purchasing an additional 200 shares during the period. V Square Quantitative Management LLC grew its holdings in shares of Comerica by 36.7% in the fourth 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 last quarter. US Bancorp DE increased its stake in shares of Comerica by 2.0% in the fourth quarter. US Bancorp DE now owns 11,823 shares of the financial services provider's stock worth $731,000 after buying an additional 227 shares during the period. Finally, MCF Advisors LLC raised its holdings in Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock valued at $39,000 after buying an additional 228 shares during the last quarter. 80.74% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of research firms have issued reports on CMA. UBS Group initiated coverage on shares of Comerica in a research report on Tuesday, December 17th. They issued a "sell" rating and a $64.00 price objective on the stock. Truist Financial raised Comerica to a "hold" rating in a research report on Monday, January 6th. Morgan Stanley cut their price objective on Comerica from $71.00 to $63.00 and set an "equal weight" rating on the stock in a research report on Thursday, March 13th. Compass Point boosted their target price on Comerica from $64.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Finally, Piper Sandler raised their price target on Comerica from $64.00 to $72.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $68.29.
Read Our Latest Stock Report on Comerica
Comerica Stock Up 0.6 %
CMA stock traded up $0.39 during trading on Tuesday, hitting $60.87. 1,589,496 shares of the stock traded hands, compared to its average volume of 2,041,507. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of 12.13 and a beta of 1.23. 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 1 year low of $45.32 and a 1 year high of $73.45. The firm's 50 day moving average is $63.41 and its two-hundred day moving average is $63.57.
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 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 prior year, the company posted $1.46 EPS. On average, sell-side analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current year.
Comerica Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date is Friday, March 14th. Comerica's payout ratio is currently 56.57%.
Comerica Profile
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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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