Comerica Incorporated (NYSE:CMA) Shares Acquired by Natixis Advisors L.P.

Natixis Advisors L.P. increased its stake in shares of Comerica Incorporated (NYSE:CMA) by 88.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 272,928 shares of the financial services provider’s stock after acquiring an additional 128,183 shares during the period. Natixis Advisors L.P. owned about 0.21% of Comerica worth $15,231,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMA. Raymond James & Associates grew its stake in shares of Comerica by 18.1% during the 4th quarter. Raymond James & Associates now owns 203,324 shares of the financial services provider’s stock worth $11,348,000 after purchasing an additional 31,125 shares during the period. Avaii Wealth Management LLC acquired a new stake in shares of Comerica in the fourth quarter worth approximately $679,000. NewEdge Wealth LLC purchased a new stake in shares of Comerica during the fourth quarter worth approximately $10,068,000. Mirae Asset Global Investments Co. Ltd. raised its stake in Comerica by 73.0% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 56,771 shares of the financial services provider’s stock valued at $3,168,000 after purchasing an additional 23,947 shares during the last quarter. Finally, LSV Asset Management lifted its holdings in Comerica by 3.5% in the 3rd quarter. LSV Asset Management now owns 678,976 shares of the financial services provider’s stock valued at $28,211,000 after purchasing an additional 22,800 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the sale, the executive vice president now directly owns 7,236 shares of the company’s stock, valued at approximately $380,541.24. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, EVP Cassandra M. Mckinney sold 7,271 shares of Comerica stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total value of $382,381.89. Following the completion of the transaction, the executive vice president now directly owns 7,236 shares in the company, valued at $380,541.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.74, for a total value of $160,013.16. Following the sale, the executive vice president now owns 17,460 shares in the company, valued at approximately $920,840.40. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

CMA has been the subject of a number of research reports. Piper Sandler upped their target price on shares of Comerica from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Royal Bank of Canada increased their price objective on shares of Comerica from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, April 19th. UBS Group decreased their target price on shares of Comerica from $59.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Stephens restated an “overweight” rating and issued a $64.00 price target on shares of Comerica in a research report on Friday, April 19th. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on Comerica in a research report on Wednesday, April 10th. They set a “hold” rating and a $59.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $56.89.

Comerica Stock Up 1.6 %

Comerica stock opened at $53.93 on Tuesday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a 50 day moving average price of $51.79 and a 200 day moving average price of $50.20. Comerica Incorporated has a fifty-two week low of $30.98 and a fifty-two week high of $57.39. The company has a market capitalization of $7.15 billion, a PE ratio of 10.72 and a beta of 1.27.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.16. Comerica had a return on equity of 16.51% and a net margin of 13.11%. The firm had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $807.57 million. During the same quarter in the previous year, the business earned $2.39 EPS. Research analysts expect that Comerica Incorporated will post 5.16 earnings per share for the current year.

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given 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 5.27%. Comerica’s dividend payout ratio is presently 56.46%.

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.