Sumitomo Mitsui Trust Holdings Inc. reduced its stake in Comerica Incorporated (NYSE:CMA – Get Rating) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,056 shares of the financial services provider’s stock after selling 430 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Comerica were worth $3,413,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of CMA. International Assets Investment Management LLC purchased a new position in shares of Comerica during the 4th quarter worth $2,551,000. M&G Investment Management Ltd. increased its holdings in Comerica by 65.0% in the 4th quarter. M&G Investment Management Ltd. now owns 75,779 shares of the financial services provider’s stock valued at $5,077,000 after acquiring an additional 29,842 shares during the last quarter. State of Michigan Retirement System increased its holdings in shares of Comerica by 0.6% in the 4th quarter. State of Michigan Retirement System now owns 35,570 shares of the financial services provider’s stock worth $2,378,000 after buying an additional 200 shares during the last quarter. Baldwin Brothers LLC MA bought a new stake in shares of Comerica in the 4th quarter worth about $27,000. Finally, PL Capital Advisors LLC increased its holdings in shares of Comerica by 189.7% in the 4th quarter. PL Capital Advisors LLC now owns 84,000 shares of the financial services provider’s stock worth $5,615,000 after buying an additional 55,000 shares during the last quarter. 81.91% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities analysts recently commented on the stock. Piper Sandler dropped their price target on shares of Comerica from $82.00 to $70.00 in a research note on Friday, March 10th. The Goldman Sachs Group lowered their price target on shares of Comerica from $83.00 to $61.00 and set a “neutral” rating for the company in a research report on Thursday, March 30th. StockNews.com lowered shares of Comerica from a “hold” rating to a “sell” rating in a research note on Friday, April 14th. JPMorgan Chase & Co. lowered shares of Comerica from an “overweight” rating to a “neutral” rating and cut their price target for the company from $75.00 to $44.00 in a research note on Thursday, April 6th. Finally, Odeon Capital Group lowered shares of Comerica from a “buy” rating to a “hold” rating in a research note on Monday, March 13th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $72.84.
Insider Activity at Comerica
Comerica Trading Down 2.7 %
NYSE CMA opened at $45.80 on Friday. The firm has a market capitalization of $6.02 billion, a price-to-earnings ratio of 5.41, a PEG ratio of 1.22 and a beta of 1.14. The company’s 50 day moving average price is $54.75 and its 200 day moving average price is $64.50. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.85 and a current ratio of 0.85. Comerica Incorporated has a one year low of $29.17 and a one year high of $87.95.
Comerica (NYSE:CMA – Get Rating) last released its quarterly earnings data on Thursday, April 20th. The financial services provider reported $2.39 EPS for the quarter, topping analysts’ consensus estimates of $2.37 by $0.02. Comerica had a net margin of 30.72% and a return on equity of 20.75%. During the same period in the prior year, the firm earned $1.37 earnings per share. On average, sell-side analysts predict that Comerica Incorporated will post 8.59 EPS for the current year.
Comerica Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Saturday, April 1st. Investors of record on Wednesday, March 15th were paid a dividend of $0.71 per share. This is a boost from Comerica’s previous quarterly dividend of $0.68. This represents a $2.84 dividend on an annualized basis and a dividend yield of 6.20%. The ex-dividend date was Tuesday, March 14th. Comerica’s payout ratio is currently 33.53%.
About Comerica
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.
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