Amundi Has $4.48 Million Holdings in Comerica Incorporated $CMA

Amundi lessened its position in shares of Comerica Incorporated (NYSE:CMA) by 47.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 75,772 shares of the financial services provider’s stock after selling 67,612 shares during the quarter. Amundi owned approximately 0.06% of Comerica worth $4,475,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in CMA. Primecap Management Co. CA increased its position in Comerica by 228.8% during the 1st quarter. Primecap Management Co. CA now owns 1,670,110 shares of the financial services provider’s stock valued at $98,637,000 after purchasing an additional 1,162,110 shares during the period. Azora Capital LP grew its position in shares of Comerica by 53.7% during the 1st quarter. Azora Capital LP now owns 1,899,198 shares of the financial services provider’s stock worth $112,167,000 after buying an additional 663,513 shares during the period. Kodai Capital Management LP acquired a new stake in shares of Comerica during the 1st quarter worth approximately $32,864,000. Barrow Hanley Mewhinney & Strauss LLC grew its position in shares of Comerica by 29.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,149,591 shares of the financial services provider’s stock worth $132,952,000 after buying an additional 492,381 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in shares of Comerica by 9.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,508,229 shares of the financial services provider’s stock worth $325,308,000 after buying an additional 472,409 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the stock. JPMorgan Chase & Co. raised their price objective on shares of Comerica from $52.00 to $60.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 1st. Piper Sandler increased their target price on Comerica from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Cantor Fitzgerald initiated coverage on Comerica in a report on Wednesday. They issued a “neutral” rating and a $72.00 target price on the stock. Stephens reiterated an “equal weight” rating on shares of Comerica in a report on Monday, July 21st. Finally, Truist Financial increased their target price on Comerica from $61.00 to $68.00 and gave the stock a “hold” rating in a report on Thursday, July 24th. Five investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and five have given a Sell rating to the stock. According to data from MarketBeat.com, Comerica has a consensus rating of “Hold” and an average target price of $65.00.

Comerica Price Performance

Shares of NYSE:CMA opened at $69.21 on Thursday. Comerica Incorporated has a 1-year low of $48.12 and a 1-year high of $73.45. The stock has a market cap of $8.89 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 12.46 and a beta of 0.97. The stock’s fifty day simple moving average is $67.03 and its two-hundred day simple moving average is $60.43. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.84.

Comerica (NYSE:CMA) last announced its earnings results on Friday, July 18th. The financial services provider reported $1.42 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.19. Comerica had a return on equity of 10.92% and a net margin of 14.92%.The firm had revenue of $849.00 million during the quarter, compared to analyst estimates of $844.39 million. During the same period last year, the firm posted $1.49 EPS. As a group, analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 15th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $2.84 annualized dividend and a yield of 4.1%. Comerica’s dividend payout ratio (DPR) is 54.41%.

Insider Activity

In other Comerica news, insider James Mcgregor Carr sold 4,000 shares of Comerica stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $67.28, for a total transaction of $269,120.00. Following the completion of the transaction, the insider owned 33,471 shares of the company’s stock, valued at $2,251,928.88. The trade was a 10.67% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Allysun C. Fleming sold 2,100 shares of Comerica stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $67.03, for a total value of $140,763.00. Following the transaction, the executive vice president directly owned 9,424 shares of the company’s stock, valued at $631,690.72. The trade was a 18.22% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

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.