Schroder Investment Management Group Purchases New Position in Comerica Incorporated (NYSE:CMA)

Schroder Investment Management Group acquired a new stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 11,494 shares of the financial services provider's stock, valued at approximately $706,000.

A number of other large investors have also added to or reduced their stakes in the stock. Trust Co. of Vermont lifted its stake in shares of Comerica by 300.0% in the fourth 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 in the last quarter. Luken Investment Analytics LLC bought a new position in Comerica in the 4th quarter valued at approximately $31,000. MCF Advisors LLC boosted its stake 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 purchasing an additional 228 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Comerica in the 3rd quarter worth $42,000. Finally, V Square Quantitative Management LLC raised its stake 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. Hedge funds and other institutional investors own 80.74% of the company's stock.

Comerica Price Performance

NYSE:CMA traded down $0.47 on Friday, reaching $50.83. 2,619,047 shares of the company's stock traded hands, compared to its average volume of 2,205,572. The stock has a 50-day simple moving average of $60.35 and a 200-day simple moving average of $63.12. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45. The firm has a market cap of $6.67 billion, a PE ratio of 10.13 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.

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Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing analysts' consensus estimates 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 in the previous year, the firm earned $1.46 earnings per share. Equities research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were given a dividend of $0.71 per share. The ex-dividend date was Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.59%. Comerica's dividend payout ratio is 56.57%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on CMA shares. Truist Financial upgraded Comerica to a "hold" rating in a report on Monday, January 6th. Barclays boosted their price objective on shares of Comerica from $66.00 to $68.00 and gave the company an "underweight" rating in a report on Monday, January 6th. Stephens cut shares of Comerica from an "overweight" rating to an "equal weight" rating and dropped their target price for the stock from $66.00 to $64.00 in a report on Monday, March 31st. Morgan Stanley lowered shares of Comerica from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $63.00 to $55.00 in a research note on Monday, April 7th. Finally, JPMorgan Chase & Co. lowered their price target on Comerica from $73.00 to $70.00 and set a "neutral" rating on the stock in a report on Tuesday, January 7th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $68.16.

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.