Assenagon Asset Management S.A. Purchases 175,826 Shares of Comerica Incorporated $CMA

Assenagon Asset Management S.A. raised its position in Comerica Incorporated (NYSE:CMA) by 52.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 508,689 shares of the financial services provider’s stock after purchasing an additional 175,826 shares during the period. Assenagon Asset Management S.A. owned 0.40% of Comerica worth $34,855,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Deutsche Bank AG grew its position in Comerica by 29.1% during the first quarter. Deutsche Bank AG now owns 15,090 shares of the financial services provider’s stock worth $891,000 after buying an additional 3,397 shares in the last quarter. Nuveen LLC bought a new stake in shares of Comerica during the 1st quarter valued at about $14,253,000. HighTower Advisors LLC grew its holdings 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 worth $2,859,000 after purchasing an additional 5,596 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of Comerica by 73.9% in the first quarter. Raymond James Financial Inc. now owns 218,884 shares of the financial services provider’s stock worth $12,927,000 after purchasing an additional 92,984 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Comerica by 121.7% in the first quarter. Wellington Management Group LLP now owns 497,298 shares of the financial services provider’s stock valued at $29,370,000 after purchasing an additional 272,969 shares in the last quarter. Institutional investors own 80.74% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $93.00 price target (up previously from $73.00) on shares of Comerica in a research note on Friday, October 10th. Morgan Stanley upgraded shares of Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 target price for the company in a research report on Tuesday, October 7th. Weiss Ratings downgraded Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. Cowen assumed coverage on Comerica in a report on Wednesday, September 24th. They issued a “hold” rating for the company. Finally, Piper Sandler set a $82.00 price objective on Comerica and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Two 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. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.26.

Comerica Stock Down 0.2%

Shares of NYSE:CMA opened at $87.92 on Friday. The stock has a market capitalization of $11.24 billion, a P/E ratio of 16.78 and a beta of 1.07. The stock’s 50-day moving average price is $79.95 and its 200-day moving average price is $70.68. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. Comerica Incorporated has a 12-month low of $48.12 and a 12-month high of $90.44.

Comerica (NYSE:CMA) last released 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, equities analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Monday, December 15th will be issued a $0.71 dividend. The ex-dividend date is Monday, December 15th. This represents a $2.84 annualized dividend and a dividend yield of 3.2%. Comerica’s dividend payout ratio (DPR) is currently 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.