abrdn plc Sells 22,239 Shares of Comerica Incorporated (NYSE:CMA)

Posted by MarketBeat News on Aug 1st, 2022

Comerica logo abrdn plc lowered its stake in shares of Comerica Incorporated (NYSE:CMA – Get Rating) by 42.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,535 shares of the financial services provider’s stock after selling 22,239 shares during the period. abrdn plc’s holdings in Comerica were worth $2,827,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMA. NorthCrest Asset Manangement LLC lifted its holdings in shares of Comerica by 0.3% during the 1st quarter. NorthCrest Asset Manangement LLC now owns 39,096 shares of the financial services provider’s stock valued at $3,535,000 after purchasing an additional 125 shares in the last quarter. Bailard Inc. lifted its holdings in shares of Comerica by 3.6% during the 4th quarter. Bailard Inc. now owns 4,156 shares of the financial services provider’s stock valued at $362,000 after purchasing an additional 146 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Comerica by 3.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,105 shares of the financial services provider’s stock valued at $357,000 after purchasing an additional 147 shares in the last quarter. 1900 Wealth Management LLC lifted its holdings in shares of Comerica by 3.1% during the 1st quarter. 1900 Wealth Management LLC now owns 4,980 shares of the financial services provider’s stock valued at $450,000 after purchasing an additional 150 shares in the last quarter. Finally, Personal CFO Solutions LLC lifted its holdings in shares of Comerica by 5.1% during the 1st quarter. Personal CFO Solutions LLC now owns 3,407 shares of the financial services provider’s stock valued at $308,000 after purchasing an additional 165 shares in the last quarter. Institutional investors own 80.14% of the company’s stock.

Comerica Stock Up 0.3 %

CMA stock opened at $77.77 on Monday. The company has a current ratio of 0.84, a quick ratio of 0.88 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $10.17 billion, a PE ratio of 11.35, a PEG ratio of 1.23 and a beta of 1.33. Comerica Incorporated has a 1-year low of $66.50 and a 1-year high of $102.09. The business’s 50 day simple moving average is $77.01 and its 200 day simple moving average is $85.50.

Comerica (NYSE:CMA – Get Rating) last posted its earnings results on Wednesday, July 20th. The financial services provider reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.77 by $0.15. Comerica had a return on equity of 13.63% and a net margin of 30.42%. During the same quarter last year, the firm posted $2.32 EPS. As a group, research analysts anticipate that Comerica Incorporated will post 8.38 EPS for the current year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, October 1st. Shareholders of record on Thursday, September 15th will be issued a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 3.50%. The ex-dividend date of this dividend is Wednesday, September 14th. Comerica’s dividend payout ratio is 39.71%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wedbush lifted their price objective on Comerica from $89.00 to $94.00 and gave the company an “outperform” rating in a report on Thursday, July 21st. Raymond James cut Comerica from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 21st. Citigroup boosted their target price on Comerica to $95.00 in a research note on Friday, July 22nd. JPMorgan Chase & Co. cut their target price on Comerica from $108.00 to $97.00 and set an “overweight” rating on the stock in a research note on Friday, July 1st. Finally, Wells Fargo & Company cut their target price on Comerica from $82.00 to $77.00 and set an “underweight” rating on the stock in a research note on Friday, July 1st. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.71.

Comerica Company Profile

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Comerica Incorporated, through its subsidiaries, provides various financial products and services. It 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, 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.