5,122 Shares in Comerica Incorporated (NYSE:CMA) Bought by Savant Capital LLC

Savant Capital LLC bought a new stake in Comerica Incorporated (NYSE:CMA) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 5,122 shares of the financial services provider’s stock, valued at approximately $286,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Comerica by 3.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 3,294,605 shares of the financial services provider’s stock valued at $136,891,000 after acquiring an additional 115,446 shares during the last quarter. Invesco Ltd. increased its position in shares of Comerica by 4.4% during the 3rd quarter. Invesco Ltd. now owns 3,097,572 shares of the financial services provider’s stock worth $128,704,000 after purchasing an additional 130,997 shares during the last quarter. North Reef Capital Management LP increased its position in shares of Comerica by 43.0% during the 3rd quarter. North Reef Capital Management LP now owns 2,880,000 shares of the financial services provider’s stock worth $119,664,000 after purchasing an additional 865,870 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its stake in shares of Comerica by 129.3% during the 4th 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 in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its holdings in shares of Comerica by 46.1% in the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,462,906 shares of the financial services provider’s stock valued at $60,784,000 after buying an additional 461,741 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on CMA. Truist Financial dropped their price target on shares of Comerica from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Piper Sandler upped their target price on shares of Comerica from $54.00 to $56.00 and gave the company a “neutral” rating in a report on Friday, April 26th. Stephens reiterated an “overweight” rating and issued a $64.00 target price on shares of Comerica in a research note on Friday, April 19th. Deutsche Bank Aktiengesellschaft started coverage on Comerica in a research report on Wednesday, April 10th. They set a “hold” rating and a $59.00 price target on the stock. Finally, UBS Group cut their price objective on Comerica from $59.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $56.89.

Comerica Stock Performance

NYSE CMA opened at $53.93 on Tuesday. Comerica Incorporated has a 12-month low of $30.98 and a 12-month high of $57.39. The firm has a 50-day moving average price of $51.79 and a two-hundred day moving average price of $50.20. The company has a market capitalization of $7.15 billion, a P/E ratio of 10.72 and a beta of 1.27. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.26.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. The business 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 quarter in the prior year, the business posted $2.39 earnings per share. Analysts anticipate that Comerica Incorporated will post 5.16 earnings per share for the current year.

Comerica Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.27%. The ex-dividend date of this dividend is Friday, June 14th. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Insider Activity at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the sale, the executive vice president now directly owns 7,236 shares in the company, valued at $380,541.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Wendy Bridges sold 3,034 shares of the business’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Cassandra M. Mckinney sold 7,271 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were 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 directly owns 7,236 shares in the company, valued at $380,541.24. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

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, 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.