Lazard Asset Management LLC grew its position in shares of Comerica Incorporated (NYSE:CMA – Get Rating) by 810.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,966 shares of the financial services provider’s stock after purchasing an additional 5,311 shares during the quarter. Lazard Asset Management LLC’s holdings in Comerica were worth $437,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of CMA. Quent Capital LLC grew its position in Comerica by 292.3% during the 1st quarter. Quent Capital LLC now owns 306 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 228 shares during the last quarter. Tcwp LLC purchased a new stake in Comerica in the 1st quarter worth approximately $30,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of Comerica in the 1st quarter valued at approximately $31,000. Oakworth Capital Inc. purchased a new position in shares of Comerica in the 2nd quarter valued at approximately $34,000. Finally, Evoke Wealth LLC lifted its stake in shares of Comerica by 38.0% in the 2nd quarter. Evoke Wealth LLC now owns 494 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 136 shares during the period. 82.56% of the stock is currently owned by institutional investors.
Comerica Price Performance
Shares of Comerica stock opened at $69.90 on Friday. The stock’s 50-day simple moving average is $72.65 and its 200-day simple moving average is $76.55. Comerica Incorporated has a 52 week low of $64.11 and a 52 week high of $102.09. The company has a market capitalization of $9.15 billion, a price-to-earnings ratio of 9.26, a PEG ratio of 1.33 and a beta of 1.20. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.65.
Comerica Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, January 1st. Stockholders of record on Thursday, December 15th will be given a $0.68 dividend. The ex-dividend date is Wednesday, December 14th. This represents a $2.72 annualized dividend and a dividend yield of 3.89%. Comerica’s payout ratio is 36.03%.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the company. Compass Point lowered their price objective on Comerica to $88.00 in a research note on Thursday, October 20th. Barclays reduced their target price on Comerica from $105.00 to $87.00 and set an “underweight” rating for the company in a report on Thursday, October 20th. Royal Bank of Canada reduced their target price on Comerica from $95.00 to $90.00 and set an “outperform” rating for the company in a report on Thursday, October 20th. Stephens cut their price objective on Comerica from $100.00 to $93.00 and set an “overweight” rating for the company in a report on Thursday, October 20th. Finally, DA Davidson lowered Comerica from a “buy” rating to a “neutral” rating in a report on Thursday, October 20th. Two research analysts have rated the stock with a sell rating, seven 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 “Hold” and a consensus price target of $91.00.
Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance, and Other. The Commercial Bank segment meets the needs of small and middle market businesses, multinational corporations and governmental entities by offering 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.
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