Schroder Investment Management Group Boosts Stake in Comerica Incorporated (NYSE:CMA)

Schroder Investment Management Group grew its holdings in shares of Comerica Incorporated (NYSE:CMAFree Report) by 95.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 360,225 shares of the financial services provider’s stock after purchasing an additional 176,383 shares during the quarter. Schroder Investment Management Group owned approximately 0.27% of Comerica worth $20,104,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Bison Wealth LLC lifted its stake in shares of Comerica by 1.7% during the 4th quarter. Bison Wealth LLC now owns 11,653 shares of the financial services provider’s stock worth $650,000 after purchasing an additional 196 shares during the period. Fruth Investment Management lifted its stake in shares of Comerica by 1.6% during the 4th quarter. Fruth Investment Management now owns 13,090 shares of the financial services provider’s stock worth $730,000 after purchasing an additional 200 shares during the period. Yousif Capital Management LLC lifted its stake in shares of Comerica by 2.8% during the 4th quarter. Yousif Capital Management LLC now owns 7,918 shares of the financial services provider’s stock worth $442,000 after purchasing an additional 219 shares during the period. Spire Wealth Management lifted its stake in shares of Comerica by 95.9% during the 4th quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 235 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in shares of Comerica by 26.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,407 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 296 shares during the period. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Stock Performance

NYSE:CMA opened at $47.25 on Tuesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a 50-day moving average of $51.98 and a two-hundred day moving average of $51.93. The stock has a market cap of $6.26 billion, a P/E ratio of 9.39 and a beta of 1.25. Comerica Incorporated has a 1-year low of $37.40 and a 1-year high of $57.39.

Comerica (NYSE:CMAGet Free Report) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping the consensus estimate of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The business had revenue of $1.26 billion for the quarter, compared to analysts’ expectations of $807.57 million. During the same quarter last year, the company posted $2.39 earnings per share. On average, research analysts expect that Comerica Incorporated will post 5.19 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $2.84 annualized dividend and a dividend yield of 6.01%. Comerica’s payout ratio is 56.46%.

Insider Transactions at Comerica

In other news, EVP Cassandra M. Mckinney sold 7,271 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the transaction, the executive vice president now owns 7,236 shares of the company’s stock, valued at $380,541.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank of Canada upped their price objective on Comerica from $61.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, April 19th. UBS Group dropped their price objective on Comerica from $59.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, April 19th. DA Davidson restated a “neutral” rating and set a $56.00 price objective on shares of Comerica in a report on Wednesday, March 6th. Truist Financial dropped their price objective on Comerica from $62.00 to $60.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Comerica in a report on Wednesday, April 10th. They set a “hold” rating and a $59.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $56.50.

Check Out Our Latest Report on Comerica

Comerica Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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