Invesco Ltd. Buys 54,963 Shares of Comerica Incorporated (NYSE:CMA)

Invesco Ltd. grew its stake in shares of Comerica Incorporated (NYSE:CMA) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 795,686 shares of the financial services provider’s stock after buying an additional 54,963 shares during the quarter. Invesco Ltd. owned approximately 0.61% of Comerica worth $49,213,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of CMA. National Bank of Canada FI grew its position in Comerica by 364.5% during the 3rd quarter. National Bank of Canada FI now owns 3,112 shares of the financial services provider’s stock worth $186,000 after acquiring an additional 2,442 shares during the last quarter. M&T Bank Corp boosted its stake in shares of Comerica by 25.2% during the third quarter. M&T Bank Corp now owns 12,568 shares of the financial services provider’s stock valued at $753,000 after purchasing an additional 2,530 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Comerica by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,111,845 shares of the financial services provider’s stock valued at $126,555,000 after purchasing an additional 29,661 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in shares of Comerica by 17.0% during the third quarter. Sanctuary Advisors LLC now owns 10,095 shares of the financial services provider’s stock worth $605,000 after purchasing an additional 1,467 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of Comerica in the third quarter valued at approximately $42,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Comerica Stock Up 1.4 %

Comerica stock opened at $52.95 on Wednesday. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $6.95 billion, a PE ratio of 10.55 and a beta of 0.96. The firm’s fifty day moving average is $59.73 and its 200 day moving average is $63.02. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45.

Comerica (NYSE:CMA) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same quarter last year, the business posted $1.46 EPS. As a group, sell-side analysts predict that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $0.71 dividend. The ex-dividend date was Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 5.36%. Comerica’s dividend payout ratio (DPR) is presently 56.57%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CMA shares. DA Davidson reduced their target price on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. The Goldman Sachs Group cut shares of Comerica from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $85.00 to $71.00 in a research note on Tuesday, January 7th. Truist Financial upgraded Comerica to a “hold” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods cut their target price on Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Finally, Robert W. Baird increased their price target on Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $68.16.

Comerica Profile

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.