Sumitomo Mitsui DS Asset Management Company Ltd Has $1.28 Million Stock Holdings in Comerica Incorporated (NYSE:CMA)

Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of Comerica Incorporated (NYSE:CMA) by 6.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,982 shares of the financial services provider’s stock after buying an additional 1,357 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Comerica were worth $1,283,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in CMA. Fortitude Family Office LLC acquired a new stake in Comerica during the 4th quarter worth approximately $36,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Comerica during the 4th quarter worth approximately $36,000. Authentikos Wealth Advisory LLC acquired a new position in shares of Comerica in the 3rd quarter worth approximately $47,000. FNY Investment Advisers LLC acquired a new position in shares of Comerica in the 4th quarter worth approximately $50,000. Finally, CVA Family Office LLC acquired a new position in shares of Comerica in the 4th quarter worth approximately $56,000. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Comerica

In other news, EVP Cassandra M. Mckinney sold 1,616 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following the completion of the sale, the executive vice president now owns 8,314 shares in the company, valued at approximately $454,276.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Wendy Bridges sold 3,034 shares of Comerica stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $52.74, for a total value of $160,013.16. Following the completion of the transaction, the executive vice president now directly owns 17,460 shares in the company, valued at approximately $920,840.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $54.64, for a total transaction of $88,298.24. Following the completion of the transaction, the executive vice president now owns 8,314 shares of the company’s stock, valued at $454,276.96. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CMA has been the topic of a number of recent analyst reports. Stephens restated an “overweight” rating and issued a $64.00 price target on shares of Comerica in a research report on Friday, April 19th. Keefe, Bruyette & Woods dropped their price target on shares of Comerica from $60.00 to $58.00 and set a “market perform” rating on the stock in a research report on Monday, January 22nd. DA Davidson restated a “neutral” rating and issued a $56.00 price target on shares of Comerica in a research report on Wednesday, March 6th. UBS Group dropped their price target on shares of Comerica from $59.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Finally, 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. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $56.89.

Comerica Stock Performance

NYSE CMA opened at $52.16 on Friday. Comerica Incorporated has a 52-week low of $28.40 and a 52-week high of $57.39. The company has a 50-day simple moving average of $51.51 and a 200 day simple moving average of $49.58. The company has a market capitalization of $6.91 billion, a PE ratio of 10.37 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.94 and a current ratio of 0.95.

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 the consensus estimate of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The company had revenue of $1.26 billion during the quarter, compared to analyst estimates of $807.57 million. During the same quarter last year, the business posted $2.39 EPS. On average, research analysts predict that Comerica Incorporated will post 5.15 EPS for the current year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, June 14th. This represents a $2.84 annualized dividend and a dividend yield of 5.44%. Comerica’s payout ratio is currently 56.46%.

Comerica Company 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.