Daiwa Securities Group Inc. Increases Stock Holdings in Comerica Incorporated (NYSE:CMA)

Daiwa Securities Group Inc. boosted its position in shares of Comerica Incorporated (NYSE:CMA) by 13.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,534 shares of the financial services provider’s stock after acquiring an additional 423 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Comerica were worth $197,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Bison Wealth LLC boosted its holdings in Comerica by 1.7% during the 4th quarter. Bison Wealth LLC now owns 11,653 shares of the financial services provider’s stock valued at $650,000 after acquiring an additional 196 shares during the period. Fruth Investment Management boosted its holdings in Comerica by 1.6% during the 4th quarter. Fruth Investment Management now owns 13,090 shares of the financial services provider’s stock valued at $730,000 after acquiring an additional 200 shares during the period. Venturi Wealth Management LLC boosted its holdings in Comerica by 26.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,407 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 296 shares during the period. D.A. Davidson & CO. boosted its stake in shares of Comerica by 2.5% in the 3rd quarter. D.A. Davidson & CO. now owns 12,525 shares of the financial services provider’s stock valued at $520,000 after buying an additional 300 shares during the period. Finally, Treasurer of the State of North Carolina boosted its stake in shares of Comerica by 0.5% in the 3rd quarter. Treasurer of the State of North Carolina now owns 57,789 shares of the financial services provider’s stock valued at $2,401,000 after buying an additional 300 shares during the period. 80.74% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. DA Davidson reiterated a “neutral” rating and issued a $56.00 price objective on shares of Comerica in a research note on Wednesday, March 6th. The Goldman Sachs Group raised Comerica from a “neutral” rating to a “buy” rating and set a $70.50 target price on the stock in a research report on Thursday, January 4th. Piper Sandler lifted their price target on Comerica from $54.00 to $56.00 and gave the stock a “neutral” rating in a research report on Friday. Raymond James lowered Comerica from an “outperform” rating to a “market perform” rating in a research report on Monday, January 22nd. Finally, Deutsche Bank Aktiengesellschaft began coverage on Comerica in a report on Wednesday, April 10th. They issued a “hold” rating and a $59.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, fifteen have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $56.98.

Insider Activity

In related news, EVP Cassandra M. Mckinney sold 1,616 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 8,314 shares in the company, valued at $454,276.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total value of $382,381.89. Following the completion of the sale, the executive vice president now owns 7,236 shares of the company’s stock, valued at $380,541.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, 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 directly owns 8,314 shares of the company’s stock, valued at approximately $454,276.96. The disclosure for this sale can be found here. Insiders have sold 11,921 shares of company stock worth $630,693 over the last three months. 0.19% of the stock is currently owned by corporate insiders.

Comerica Stock Down 0.2 %

Shares of NYSE:CMA opened at $52.07 on Friday. The company has a quick ratio of 0.94, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. Comerica Incorporated has a 52-week low of $28.40 and a 52-week high of $57.39. The stock’s fifty day simple moving average is $51.54 and its 200-day simple moving average is $49.72. The company has a market capitalization of $6.90 billion, a P/E ratio of 10.35 and a beta of 1.27.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The business had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. During the same period in the prior year, the business earned $2.39 earnings per share. As a group, equities research analysts forecast that Comerica Incorporated will post 5.16 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $0.71 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.84 annualized dividend and a dividend yield of 5.45%. Comerica’s dividend payout ratio is currently 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.