Securian Asset Management Inc. Takes $615,000 Position in Comerica Incorporated (NYSE:CMA)

Securian Asset Management Inc. bought a new stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,942 shares of the financial services provider's stock, valued at approximately $615,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Comerica by 2.0% in the third quarter. State Street Corp now owns 4,977,670 shares of the financial services provider's stock worth $301,745,000 after acquiring an additional 96,084 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Comerica by 2.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider's stock worth $274,092,000 after acquiring an additional 125,514 shares during the period. Vaughan Nelson Investment Management L.P. raised its position in shares of Comerica by 3.0% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider's stock worth $153,462,000 after acquiring an additional 72,391 shares during the period. Azora Capital LP raised its position in shares of Comerica by 7.8% in the third quarter. Azora Capital LP now owns 2,230,369 shares of the financial services provider's stock worth $133,621,000 after acquiring an additional 161,181 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Comerica by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,111,845 shares of the financial services provider's stock worth $126,555,000 after acquiring an additional 29,661 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Truist Financial upgraded shares of Comerica to a "hold" rating in a research report on Monday, January 6th. Argus upgraded shares of Comerica to a "hold" rating in a research report on Friday, January 31st. Piper Sandler upped their price target on shares of Comerica from $64.00 to $72.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Barclays upped their price target on shares of Comerica from $66.00 to $68.00 and gave the stock an "underweight" rating in a research report on Monday, January 6th. Finally, The Goldman Sachs Group cut shares of Comerica from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $85.00 to $71.00 in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, Comerica presently has an average rating of "Hold" and an average price target of $68.29.

Comerica Trading Down 0.1 %

NYSE CMA traded down $0.06 on Thursday, reaching $59.04. The stock had a trading volume of 1,165,893 shares, compared to its average volume of 2,095,947. The stock has a fifty day moving average price of $63.56 and a two-hundred day moving average price of $63.39. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $7.75 billion, a price-to-earnings ratio of 11.76 and a beta of 1.23.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (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 quarter in the previous year, the business earned $1.46 EPS. As a group, sell-side analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 4.81%. The ex-dividend date is Friday, March 14th. Comerica's dividend payout ratio (DPR) is presently 56.57%.

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.