Comerica Incorporated (NYSE:CMA) Shares Bought by Raymond James & Associates

Raymond James & Associates lifted its stake in shares of Comerica Incorporated (NYSE:CMA – Get Rating) by 15.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 71,071 shares of the financial services provider’s stock after purchasing an additional 9,536 shares during the quarter. Raymond James & Associates owned about 0.05% of Comerica worth $4,751,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Comerica by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 16,248,885 shares of the financial services provider’s stock worth $1,155,296,000 after buying an additional 221,824 shares in the last quarter. State Street Corp boosted its position in shares of Comerica by 3.9% in the 3rd quarter. State Street Corp now owns 7,675,947 shares of the financial services provider’s stock worth $550,764,000 after buying an additional 284,884 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Comerica by 5.5% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,492,892 shares of the financial services provider’s stock valued at $225,433,000 after purchasing an additional 129,042 shares in the last quarter. Marshall Wace LLP lifted its holdings in Comerica by 12.7% in the 3rd quarter. Marshall Wace LLP now owns 2,377,028 shares of the financial services provider’s stock valued at $169,008,000 after purchasing an additional 267,593 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Comerica by 4.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,992,962 shares of the financial services provider’s stock valued at $180,255,000 after purchasing an additional 79,871 shares in the last quarter. 81.91% of the stock is owned by institutional investors and hedge funds.

Comerica Stock Up 2.0 %

CMA stock opened at $40.48 on Wednesday. Comerica Incorporated has a twelve month low of $28.40 and a twelve month high of $87.02. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $5.33 billion, a P/E ratio of 4.27, a PEG ratio of 1.09 and a beta of 1.14. The firm has a 50 day simple moving average of $40.95 and a 200-day simple moving average of $59.13.

Comerica (NYSE:CMA – Get Rating) last announced its quarterly earnings data on Thursday, April 20th. The financial services provider reported $2.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.26 by $0.13. Comerica had a return on equity of 24.34% and a net margin of 30.16%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $966.40 million. During the same period last year, the business posted $1.37 earnings per share. On average, equities research analysts predict that Comerica Incorporated will post 8.23 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, July 1st. Investors of record on Thursday, June 15th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 7.02%. The ex-dividend date is Wednesday, June 14th. Comerica’s dividend payout ratio (DPR) is presently 29.93%.

Wall Street Analyst Weigh In

CMA has been the topic of a number of recent research reports. DA Davidson reduced their target price on shares of Comerica from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, April 21st. Royal Bank of Canada reduced their target price on shares of Comerica from $68.00 to $62.00 and set an “outperform” rating on the stock in a report on Friday, April 21st. JPMorgan Chase & Co. upgraded shares of Comerica from a “neutral” rating to an “overweight” rating and set a $46.00 target price on the stock in a report on Friday, May 5th. Raymond James upgraded shares of Comerica from an “outperform” rating to a “strong-buy” rating and reduced their target price for the company from $84.00 to $57.00 in a report on Thursday, April 6th. Finally, Truist Financial cut their price objective on shares of Comerica from $78.00 to $54.00 and set a “buy” rating on the stock in a report on Thursday, March 23rd. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $69.23.

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.