Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Comerica Incorporated (NYSE:CMA – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 4,660 shares of the financial services provider’s stock, valued at approximately $202,000.
Several other institutional investors have also recently bought and sold shares of the company. Affinity Investment Advisors LLC lifted its stake in Comerica by 1.6% in the 4th quarter. Affinity Investment Advisors LLC now owns 13,171 shares of the financial services provider’s stock valued at $880,000 after acquiring an additional 202 shares in the last quarter. Schechter Investment Advisors LLC raised its stake 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 worth $217,000 after purchasing an additional 237 shares in the last quarter. AMI Asset Management Corp raised its stake in shares of Comerica by 3.0% during the 1st quarter. AMI Asset Management Corp now owns 8,271 shares of the financial services provider’s stock worth $359,000 after purchasing an additional 244 shares in the last quarter. Advisory Services Network LLC raised its stake in shares of Comerica by 3.5% during the 1st quarter. Advisory Services Network LLC now owns 7,266 shares of the financial services provider’s stock worth $657,000 after purchasing an additional 246 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Comerica by 12.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,262 shares of the financial services provider’s stock worth $151,000 after purchasing an additional 247 shares in the last quarter. Institutional investors own 81.81% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the company. Piper Sandler upped their price objective on Comerica from $46.00 to $52.00 in a research note on Monday, July 24th. JPMorgan Chase & Co. upped their price objective on Comerica from $46.00 to $52.00 in a research note on Thursday, June 29th. Royal Bank of Canada boosted their target price on Comerica from $54.00 to $58.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. TheStreet lowered Comerica from a “b-” rating to a “c+” rating in a report on Monday, May 8th. Finally, StockNews.com started coverage on Comerica in a report on Thursday. They set a “sell” rating on the stock. Three research analysts have rated the stock with a sell rating, six have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $62.49.
Comerica Stock Performance
CMA opened at $47.27 on Monday. The firm has a market cap of $6.23 billion, a P/E ratio of 4.93, a price-to-earnings-growth ratio of 1.43 and a beta of 1.22. Comerica Incorporated has a 52-week low of $28.40 and a 52-week high of $86.42. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.93 and a current ratio of 0.93. The business’s fifty day moving average is $47.31 and its 200-day moving average is $48.95.
Comerica (NYSE:CMA – Get Free Report) last released its earnings results on Friday, July 21st. The financial services provider reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.15. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $904.80 million. Comerica had a return on equity of 25.54% and a net margin of 27.01%. During the same period in the prior year, the firm posted $1.92 EPS. Sell-side analysts expect that Comerica Incorporated will post 7.75 EPS for the current fiscal year.
Comerica Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Sunday, October 1st. Stockholders of record on Friday, September 15th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 6.01%. The ex-dividend date is Thursday, September 14th. Comerica’s dividend payout ratio (DPR) is currently 29.65%.
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, 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.
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