Victory Capital Management Inc. Decreases Stock Holdings in Comerica Incorporated (NYSE:CMA)

Victory Capital Management Inc. reduced its position in Comerica Incorporated (NYSE:CMA - Free Report) by 39.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,178 shares of the financial services provider's stock after selling 17,150 shares during the quarter. Victory Capital Management Inc.'s holdings in Comerica were worth $1,619,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. State Street Corp raised its stake in Comerica by 2.0% in the third quarter. State Street Corp now owns 4,977,670 shares of the financial services provider's stock valued at $301,745,000 after purchasing an additional 96,084 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in 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 valued at $274,092,000 after purchasing an additional 125,514 shares in the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in 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 valued at $153,462,000 after purchasing an additional 72,391 shares in the last quarter. Azora Capital LP raised its stake in Comerica by 7.8% in the third quarter. Azora Capital LP now owns 2,230,369 shares of the financial services provider's stock valued at $133,621,000 after purchasing an additional 161,181 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Comerica by 1.4% during 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 in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

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Comerica Stock Down 0.1 %

Shares of CMA stock traded down $0.03 during mid-day trading on Friday, reaching $58.99. 5,451,774 shares of the company's stock traded hands, compared to its average volume of 2,042,187. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45. The company has a market cap of $7.74 billion, a P/E ratio of 11.75 and a beta of 1.23. 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 company's 50-day moving average price is $63.47 and its 200-day moving average price is $63.37.

Comerica (NYSE:CMA - Get Free Report) last announced its 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 net margin of 13.98% and a return on equity of 12.04%. During the same quarter in the prior year, the firm posted $1.46 EPS. On average, equities analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 4.81%. The ex-dividend date of this dividend is Friday, March 14th. Comerica's dividend payout ratio is presently 56.57%.

Analyst Upgrades and Downgrades

CMA has been the topic of several research reports. Stephens reissued an "overweight" rating and set a $72.00 price target on shares of Comerica in a research note on Wednesday, March 5th. DA Davidson decreased their price target on shares of Comerica from $71.00 to $67.00 and set a "neutral" rating on the stock in a research note on Thursday, January 23rd. Truist Financial raised shares of Comerica to a "hold" rating in a research note on Monday, January 6th. The Goldman Sachs Group downgraded shares of Comerica from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $85.00 to $71.00 in a research note on Tuesday, January 7th. Finally, Barclays lifted their price target on shares of Comerica from $66.00 to $68.00 and gave the stock an "underweight" rating in a research note on Monday, January 6th. 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's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $68.29.

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.