LPL Financial LLC Acquires 891 Shares of Comerica Incorporated (NYSE:CMA)

LPL Financial LLC increased its holdings in Comerica Incorporated (NYSE:CMA – Get Rating) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 35,610 shares of the financial services provider’s stock after buying an additional 891 shares during the period. LPL Financial LLC’s holdings in Comerica were worth $2,381,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Baldwin Brothers LLC MA purchased a new position in Comerica during the 4th quarter valued at about $27,000. Almanack Investment Partners LLC. purchased a new position in shares of Comerica during the 3rd quarter valued at $38,000. Ronald Blue Trust Inc. grew its position in shares of Comerica by 65.4% during the 4th quarter. Ronald Blue Trust Inc. now owns 589 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 233 shares in the last quarter. Picton Mahoney Asset Management purchased a new position in shares of Comerica during the 3rd quarter valued at $64,000. Finally, Covestor Ltd grew its position in shares of Comerica by 28.7% during the 1st quarter. Covestor Ltd now owns 1,147 shares of the financial services provider’s stock valued at $104,000 after purchasing an additional 256 shares in the last quarter. 81.91% of the stock is owned by institutional investors.

Comerica Stock Down 1.2 %

Shares of CMA opened at $38.34 on Monday. Comerica Incorporated has a 12-month low of $28.40 and a 12-month high of $87.02. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $5.05 billion, a PE ratio of 4.04, a price-to-earnings-growth ratio of 1.10 and a beta of 1.14. The business’s 50 day moving average is $41.07 and its 200 day moving average is $59.51.

Comerica (NYSE:CMA – Get Rating) last posted its quarterly earnings results on Thursday, April 20th. The financial services provider reported $2.39 earnings per share for the quarter, topping the consensus estimate of $2.26 by $0.13. Comerica had a return on equity of 24.34% and a net margin of 30.16%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $966.40 million. During the same period in the prior year, the company posted $1.37 EPS. Research analysts expect that Comerica Incorporated will post 8.23 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 7.41%. The ex-dividend date of this dividend is Wednesday, June 14th. Comerica’s dividend payout ratio (DPR) is presently 29.93%.

Analyst Ratings Changes

Several research analysts have recently commented on CMA shares. Wells Fargo & Company cut their price objective on Comerica from $72.00 to $53.00 and set an “underweight” rating for the company in a report on Monday, April 3rd. Keefe, Bruyette & Woods cut their target price on shares of Comerica from $80.00 to $57.00 and set a “market perform” rating for the company in a research report on Thursday, April 6th. StockNews.com initiated coverage on shares of Comerica in a research report on Thursday. They issued a “sell” rating for the company. Truist Financial cut their price target on shares of Comerica from $78.00 to $54.00 and set a “buy” rating for the company in a research report on Thursday, March 23rd. Finally, JPMorgan Chase & Co. upgraded Comerica from a “neutral” rating to an “overweight” rating and set a $46.00 price target on the stock in a report on Friday, May 5th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Comerica presently has an average rating of “Hold” and an average price target of $69.23.

Comerica Company Profile

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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 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.