FIL Ltd Boosts Position in Comerica Incorporated (NYSE:CMA)

FIL Ltd increased its holdings in Comerica Incorporated (NYSE:CMA) by 140.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 244,558 shares of the financial services provider’s stock after acquiring an additional 142,922 shares during the quarter. FIL Ltd owned about 0.19% of Comerica worth $15,126,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Invesco Ltd. boosted its position in Comerica by 7.4% during the 4th quarter. Invesco Ltd. now owns 795,686 shares of the financial services provider’s stock valued at $49,213,000 after acquiring an additional 54,963 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Comerica by 0.6% during the fourth quarter. Bank of Montreal Can now owns 276,016 shares of the financial services provider’s stock valued at $17,072,000 after purchasing an additional 1,712 shares in the last quarter. Cerity Partners LLC grew its stake in Comerica by 49.0% in the fourth quarter. Cerity Partners LLC now owns 104,469 shares of the financial services provider’s stock worth $6,426,000 after purchasing an additional 34,374 shares during the period. Federated Hermes Inc. raised its holdings in Comerica by 4,050.3% in the fourth quarter. Federated Hermes Inc. now owns 13,281 shares of the financial services provider’s stock worth $821,000 after purchasing an additional 12,961 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in Comerica during the fourth quarter valued at $587,000. Institutional investors own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

CMA has been the topic of several research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Truist Financial upgraded Comerica to a “hold” rating in a research note on Monday, January 6th. JPMorgan Chase & Co. lowered their price target on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. The Goldman Sachs Group downgraded shares of Comerica from a “buy” rating to a “neutral” rating and cut their price objective for the company from $85.00 to $71.00 in a research report on Tuesday, January 7th. Finally, UBS Group raised shares of Comerica from a “sell” rating to a “neutral” rating and set a $59.00 target price for the company in a report on Thursday. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $68.16.

Comerica Stock Down 0.9 %

CMA opened at $50.83 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $6.67 billion, a PE ratio of 10.13 and a beta of 0.96. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45. The firm’s 50 day simple moving average is $60.35 and its two-hundred day simple moving average is $63.12.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same period in the previous year, the firm earned $1.46 EPS. As a group, equities analysts forecast that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 5.59%. The ex-dividend date was Friday, March 14th. Comerica’s dividend payout ratio is currently 56.57%.

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.