Raymond James & Associates raised its holdings in Comerica Incorporated (NYSE:CMA – Free Report) by 209.6% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 128,520 shares of the financial services provider’s stock after purchasing an additional 87,014 shares during the quarter. Raymond James & Associates’ holdings in Comerica were worth $5,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently bought and sold shares of CMA. Private Advisor Group LLC grew its stake in Comerica by 9.3% during the first quarter. Private Advisor Group LLC now owns 6,692 shares of the financial services provider’s stock valued at $605,000 after acquiring an additional 568 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Comerica by 22.7% in the 1st quarter. MetLife Investment Management LLC now owns 35,565 shares of the financial services provider’s stock worth $3,216,000 after acquiring an additional 6,590 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Comerica by 6.2% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,486 shares of the financial services provider’s stock worth $1,581,000 after acquiring an additional 1,024 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Comerica by 8.4% in the 1st quarter. Great West Life Assurance Co. Can now owns 27,966 shares of the financial services provider’s stock worth $2,626,000 after acquiring an additional 2,163 shares during the last quarter. Finally, Yousif Capital Management LLC raised its holdings in Comerica by 119.2% during the 1st quarter. Yousif Capital Management LLC now owns 7,659 shares of the financial services provider’s stock valued at $693,000 after buying an additional 4,165 shares during the last quarter. Institutional investors own 81.94% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts have issued reports on the stock. Piper Sandler reduced their price objective on shares of Comerica from $48.00 to $43.00 and set a “neutral” rating on the stock in a research report on Monday. Stephens reaffirmed an “overweight” rating and issued a $64.00 target price on shares of Comerica in a research report on Tuesday, September 12th. StockNews.com initiated coverage on shares of Comerica in a research note on Thursday, October 5th. They issued a “sell” rating on the stock. Barclays dropped their price target on shares of Comerica from $52.00 to $49.00 and set an “underweight” rating on the stock in a research note on Monday. Finally, Argus upped their target price 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. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Comerica currently has a consensus rating of “Hold” and a consensus target price of $55.15.
Comerica Stock Up 0.8 %
Shares of NYSE:CMA opened at $38.26 on Tuesday. The business has a 50-day moving average price of $43.71 and a 200 day moving average price of $43.63. The company has a current ratio of 0.92, a quick ratio of 0.93 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $5.04 billion, a price-to-earnings ratio of 4.34, a PEG ratio of 1.17 and a beta of 1.25. Comerica Incorporated has a 12-month low of $28.40 and a 12-month high of $77.34.
Comerica (NYSE:CMA – Get Free Report) last announced its quarterly earnings data on Friday, October 20th. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.15. Comerica had a return on equity of 23.66% and a net margin of 23.12%. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $880.88 million. During the same quarter last year, the business posted $2.60 EPS. Sell-side analysts expect that Comerica Incorporated will post 7.58 EPS for the current year.
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.
Recommended Stories
- Five stocks we like better than Comerica
- Dividend Screener: How to Evaluate Dividend Stocks Before Buying
- Las Vegas Sands Stock May No Longer Be a Gamble
- Stock Analyst Ratings and Canadian Analyst Ratings
- MarketBeat ‘Stock of the Week’: Is Gen Digital Undervalued?
- Are Penny Stocks a Good Fit for Your Portfolio?
- The Value Deepens for Medtech Stocks: Reversal Imminent
Want to see what other hedge funds are holding CMA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Comerica Incorporated (NYSE:CMA – Free Report).
Receive News & Ratings for Comerica Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Comerica and related companies with MarketBeat.com's FREE daily email newsletter.
