Fourthstone LLC Purchases 55,197 Shares of Comerica Incorporated (NYSE:CMA)

Fourthstone LLC increased its position in shares of Comerica Incorporated (NYSE:CMA) by 365.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,297 shares of the financial services provider’s stock after purchasing an additional 55,197 shares during the period. Fourthstone LLC owned about 0.05% of Comerica worth $3,052,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Kentucky Retirement Systems Insurance Trust Fund increased its position in shares of Comerica by 4.9% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 4,688 shares of the financial services provider’s stock valued at $333,000 after buying an additional 221 shares in the last quarter. Schechter Investment Advisors LLC lifted its holdings in shares of Comerica by 5.0% during the 1st quarter. Schechter Investment Advisors LLC now owns 5,009 shares of the financial services provider’s stock valued at $217,000 after purchasing an additional 237 shares in the last quarter. AMI Asset Management Corp grew its position in shares of Comerica by 3.0% in the 1st quarter. AMI Asset Management Corp now owns 8,271 shares of the financial services provider’s stock valued at $359,000 after purchasing an additional 244 shares during the period. Advisory Services Network LLC grew its position in shares of Comerica by 3.5% in the 1st quarter. Advisory Services Network LLC now owns 7,266 shares of the financial services provider’s stock valued at $657,000 after purchasing an additional 246 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its stake in Comerica by 12.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,262 shares of the financial services provider’s stock valued at $151,000 after buying an additional 247 shares in the last quarter. 81.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Truist Financial raised their price objective on shares of Comerica from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Tuesday, July 25th. Piper Sandler raised their price target on shares of Comerica from $46.00 to $52.00 in a research note on Monday, July 24th. StockNews.com initiated coverage on shares of Comerica in a research report on Thursday, August 17th. They issued a “sell” rating on the stock. Argus lifted their price target on shares of Comerica from $56.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, July 24th. Finally, Raymond James boosted their price target on shares of Comerica from $53.00 to $57.00 and gave the stock a “strong-buy” rating in a research report on Monday, July 24th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $61.11.

Comerica Stock Performance

Shares of NYSE:CMA traded down $1.16 on Tuesday, reaching $45.16. 1,226,040 shares of the company’s stock were exchanged, compared to its average volume of 3,270,535. Comerica Incorporated has a twelve month low of $28.40 and a twelve month high of $84.87. The company has a fifty day moving average of $48.89 and a 200-day moving average of $45.90. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 4.71, a PEG ratio of 1.37 and a beta of 1.23. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.34.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Friday, July 21st. The financial services provider reported $2.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.86 by $0.15. The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $904.80 million. Comerica had a return on equity of 25.54% and a net margin of 27.01%. During the same quarter in the prior year, the business posted $1.92 earnings per share. On average, research analysts predict that Comerica Incorporated will post 7.75 EPS for the current fiscal year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Investors of record on Friday, September 15th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 6.29%. The ex-dividend date of this dividend is Thursday, September 14th. Comerica’s dividend payout ratio (DPR) is presently 29.65%.

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, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services, as well as payment and card services for small and middle market businesses, multinational corporations, and governmental entities.