Gamco Investors INC. ET AL Buys 60,643 Shares of Comerica Incorporated $CMA

Gamco Investors INC. ET AL increased its stake in shares of Comerica Incorporated (NYSE:CMA) by 355.7% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 77,693 shares of the financial services provider’s stock after purchasing an additional 60,643 shares during the quarter. Gamco Investors INC. ET AL owned 0.06% of Comerica worth $4,634,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Baron Wealth Management LLC bought a new stake in shares of Comerica during the 2nd quarter worth approximately $240,000. Rhino Investment Partners Inc lifted its position in shares of Comerica by 35.4% during the first quarter. Rhino Investment Partners Inc now owns 392,662 shares of the financial services provider’s stock worth $23,191,000 after purchasing an additional 102,647 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Comerica by 13.1% during the first quarter. HighTower Advisors LLC now owns 48,407 shares of the financial services provider’s stock valued at $2,859,000 after purchasing an additional 5,596 shares during the period. Goldman Sachs Group Inc. boosted its stake in shares of Comerica by 9.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,321,494 shares of the financial services provider’s stock valued at $137,107,000 after purchasing an additional 203,333 shares during the period. Finally, Applied Finance Capital Management LLC bought a new position in shares of Comerica in the second quarter worth about $207,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

CMA has been the subject of a number of research analyst reports. Evercore ISI set a $88.00 price objective on shares of Comerica and gave the company an “in-line” rating in a report on Thursday, October 30th. Truist Financial lifted their price target on shares of Comerica from $68.00 to $70.00 and gave the company a “hold” rating in a research note on Friday, September 12th. Royal Bank Of Canada increased their price objective on Comerica from $75.00 to $86.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. Morgan Stanley upgraded Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 price objective on the stock in a report on Tuesday, October 7th. Finally, Cowen started coverage on Comerica in a report on Wednesday, September 24th. They issued a “hold” rating for the company. Two equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $74.26.

Comerica Stock Performance

Shares of CMA stock opened at $83.81 on Wednesday. The firm has a market cap of $10.71 billion, a price-to-earnings ratio of 15.99 and a beta of 1.07. Comerica Incorporated has a 52-week low of $48.12 and a 52-week high of $85.32. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The company’s 50 day moving average is $78.17 and its 200 day moving average is $69.32.

Comerica (NYSE:CMA) last posted its earnings results on Monday, December 9th. The financial services provider reported $1.53 earnings per share for the quarter. Comerica had a return on equity of 10.69% and a net margin of 14.91%.The company had revenue of $824.00 million during the quarter. On average, sell-side analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Monday, December 15th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, December 15th. Comerica’s payout ratio is 54.20%.

Comerica 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.