Robeco Institutional Asset Management B.V. Purchases 6,692 Shares of Comerica Incorporated (NYSE:CMA)

Robeco Institutional Asset Management B.V. boosted its position in shares of Comerica Incorporated (NYSE:CMA – Get Rating) by 4.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 164,278 shares of the financial services provider’s stock after buying an additional 6,692 shares during the period. Robeco Institutional Asset Management B.V. owned approximately 0.13% of Comerica worth $11,682,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CMA. CWM LLC lifted its stake in shares of Comerica by 11.4% in the 3rd quarter. CWM LLC now owns 3,703 shares of the financial services provider’s stock valued at $263,000 after purchasing an additional 378 shares during the last quarter. Trexquant Investment LP bought a new stake in shares of Comerica in the 3rd quarter valued at approximately $3,568,000. Dimensional Fund Advisors LP lifted its stake in shares of Comerica by 0.8% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,928,269 shares of the financial services provider’s stock valued at $137,118,000 after purchasing an additional 15,653 shares during the last quarter. Quantamental Technologies LLC bought a new stake in shares of Comerica in the 2nd quarter valued at approximately $323,000. Finally, Premier Asset Management LLC bought a new stake in shares of Comerica in the 2nd quarter valued at approximately $241,000. 81.91% of the stock is owned by institutional investors.

Insider Transactions at Comerica

In other news, EVP Cassandra M. Mckinney sold 3,262 shares of the firm’s stock in a transaction on Friday, January 27th. The stock was sold at an average price of $72.76, for a total value of $237,343.12. Following the completion of the sale, the executive vice president now owns 6,825 shares of the company’s stock, valued at approximately $496,587. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.76% of the company’s stock.

Comerica Stock Down 8.4 %

Shares of NYSE CMA opened at $43.59 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $5.73 billion, a PE ratio of 5.15, a price-to-earnings-growth ratio of 1.09 and a beta of 1.20. The stock’s fifty day simple moving average is $68.24 and its two-hundred day simple moving average is $70.39. Comerica Incorporated has a 12-month low of $29.17 and a 12-month high of $97.52.

Comerica (NYSE:CMA – Get Rating) last posted its quarterly earnings data on Thursday, January 19th. The financial services provider reported $2.58 earnings per share for the quarter, topping analysts’ consensus estimates of $2.56 by $0.02. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Comerica had a return on equity of 20.75% and a net margin of 30.72%. During the same quarter last year, the firm earned $1.66 EPS. As a group, analysts expect that Comerica Incorporated will post 9.57 EPS for the current fiscal year.

Comerica Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Wednesday, March 15th will be given a $0.71 dividend. This is a boost from Comerica’s previous quarterly dividend of $0.68. The ex-dividend date is Tuesday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 6.52%. Comerica’s dividend payout ratio (DPR) is presently 33.53%.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CMA. Wolfe Research raised their price objective on Comerica from $79.00 to $80.00 in a research note on Thursday, December 1st. Wells Fargo & Company reduced their price target on Comerica from $77.00 to $72.00 in a report on Wednesday, December 14th. Citigroup began coverage on Comerica in a report on Friday, March 10th. They issued a “buy” rating and a $90.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Comerica from $72.00 to $75.00 and gave the stock an “overweight” rating in a report on Monday, January 23rd. Finally, Piper Sandler reduced their price target on Comerica from $82.00 to $70.00 in a report on Friday, March 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Comerica has an average rating of “Moderate Buy” and an average price target of $82.15.

Comerica Profile

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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.