Comerica Incorporated (NYSE:CMA) Shares Acquired by Xponance Inc.

Xponance Inc. lifted its position in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 200.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,108 shares of the financial services provider's stock after buying an additional 10,079 shares during the quarter. Xponance Inc.'s holdings in Comerica were worth $934,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in CMA. Atria Investments Inc purchased a new position in Comerica in the third quarter valued at about $219,000. Victory Capital Management Inc. raised its stake in shares of Comerica by 38.2% during the 3rd quarter. Victory Capital Management Inc. now owns 43,328 shares of the financial services provider's stock worth $2,596,000 after acquiring an additional 11,981 shares in the last quarter. Caprock Group LLC purchased a new stake in Comerica during the third quarter valued at approximately $204,000. Citigroup Inc. boosted its stake in Comerica by 390.6% in the third quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider's stock valued at $45,628,000 after acquiring an additional 606,375 shares in the last quarter. Finally, Algert Global LLC increased its position in shares of Comerica by 2.6% during the third quarter. Algert Global LLC now owns 79,306 shares of the financial services provider's stock worth $4,751,000 after purchasing an additional 2,000 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on CMA shares. Compass Point upped their price target on shares of Comerica from $64.00 to $80.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Piper Sandler lifted their price target on Comerica from $64.00 to $72.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 3rd. Keefe, Bruyette & Woods cut their price objective on shares of Comerica from $82.00 to $77.00 and set an "outperform" rating on the stock in a research note on Thursday, January 23rd. JPMorgan Chase & Co. reduced their price target on Comerica from $73.00 to $70.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Finally, Barclays lifted their price target on Comerica from $66.00 to $68.00 and gave the stock an "underweight" rating in a research note on Monday, January 6th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $68.29.

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Comerica Stock Performance

Shares of NYSE:CMA traded up $0.66 on Tuesday, reaching $61.14. The company's stock had a trading volume of 686,696 shares, compared to its average volume of 2,038,749. Comerica Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45. The stock has a market capitalization of $8.02 billion, a P/E ratio of 12.19 and a beta of 1.23. The stock's 50-day moving average is $63.46 and its two-hundred day moving average is $63.52. 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 (NYSE:CMA - Get Free Report) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing the consensus estimate 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 last year, the firm posted $1.46 earnings per share. As a group, sell-side analysts forecast that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.84 annualized dividend and a yield of 4.65%. Comerica's dividend payout ratio is presently 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.