Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Comerica Incorporated (NYSE:CMA)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Comerica Incorporated (NYSE:CMA) by 8.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,923 shares of the financial services provider’s stock after acquiring an additional 2,295 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Comerica were worth $1,614,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of CMA. Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Comerica by 129.3% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock worth $107,716,000 after purchasing an additional 1,088,330 shares during the period. North Reef Capital Management LP boosted its holdings in shares of Comerica by 43.0% in the third quarter. North Reef Capital Management LP now owns 2,880,000 shares of the financial services provider’s stock valued at $119,664,000 after acquiring an additional 865,870 shares in the last quarter. rhino investment partners Inc increased its stake in shares of Comerica by 684.2% during the third quarter. rhino investment partners Inc now owns 744,956 shares of the financial services provider’s stock worth $30,953,000 after acquiring an additional 649,956 shares during the period. Artemis Investment Management LLP acquired a new position in shares of Comerica during the fourth quarter worth about $31,018,000. Finally, Adage Capital Partners GP L.L.C. raised its holdings in Comerica by 46.1% during the third quarter. Adage Capital Partners GP L.L.C. now owns 1,462,906 shares of the financial services provider’s stock worth $60,784,000 after purchasing an additional 461,741 shares in the last quarter. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Comerica

In other news, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.64, for a total value of $88,298.24. Following the transaction, the executive vice president now owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Cassandra M. Mckinney sold 1,616 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the completion of the sale, the executive vice president now owns 8,314 shares of the company’s stock, valued at $454,276.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Wendy Bridges sold 3,034 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.74, for a total value of $160,013.16. Following the sale, the executive vice president now owns 17,460 shares in the company, valued at $920,840.40. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft began coverage on Comerica in a research report on Wednesday, April 10th. They set a “hold” rating and a $59.00 target price on the stock. DA Davidson reaffirmed a “neutral” rating and set a $56.00 price objective on shares of Comerica in a report on Wednesday, March 6th. Raymond James downgraded Comerica from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Piper Sandler upped their price target on shares of Comerica from $53.00 to $54.00 and gave the stock a “neutral” rating in a research note on Friday, April 19th. Finally, Truist Financial cut their price target on shares of Comerica from $62.00 to $60.00 and set a “buy” rating for the company in a report on Monday. Three research analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $56.89.

Comerica Trading Up 0.6 %

CMA stock opened at $52.95 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. The company has a market cap of $7.02 billion, a price-to-earnings ratio of 10.53 and a beta of 1.27. The business has a fifty day simple moving average of $51.49 and a 200-day simple moving average of $49.56. Comerica Incorporated has a 52 week low of $28.40 and a 52 week high of $57.39.

Comerica (NYSE:CMA) last released its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. Comerica had a return on equity of 16.51% and a net margin of 13.11%. During the same period last year, the business posted $2.39 EPS. On average, equities research analysts expect that Comerica Incorporated will post 5.11 EPS for the current year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.71 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.84 annualized dividend and a yield of 5.36%. Comerica’s payout ratio is 56.46%.

Comerica Company 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, payment solutions, card services, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services for small and middle market businesses, multinational corporations, and governmental entities.