Zurcher Kantonalbank Zurich Cantonalbank Has $2.29 Million Stock Position in Comerica Incorporated (NYSE:CMA)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Comerica Incorporated (NYSE:CMA) by 26.1% in the fourth quarter, HoldingsChannel reports. The firm owned 36,990 shares of the financial services provider’s stock after purchasing an additional 7,665 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Comerica were worth $2,288,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. AlphaQuest LLC boosted its position in shares of Comerica by 1,262.5% in the 4th quarter. AlphaQuest LLC now owns 50,250 shares of the financial services provider’s stock valued at $3,108,000 after purchasing an additional 46,562 shares during the period. Amundi lifted its stake in Comerica by 342.8% in the 4th quarter. Amundi now owns 143,384 shares of the financial services provider’s stock worth $8,931,000 after acquiring an additional 111,005 shares in the last quarter. LHM Inc. lifted its stake in Comerica by 209.2% in the 4th quarter. LHM Inc. now owns 135,252 shares of the financial services provider’s stock worth $8,461,000 after acquiring an additional 91,512 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Comerica in the 4th quarter worth about $7,787,000. Finally, Arizona State Retirement System lifted its stake in Comerica by 0.9% in the 4th quarter. Arizona State Retirement System now owns 38,504 shares of the financial services provider’s stock worth $2,381,000 after acquiring an additional 326 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CMA shares. Royal Bank of Canada reduced their price objective on Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Compass Point increased their price objective on Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Stephens reissued an “overweight” rating and issued a $72.00 price objective on shares of Comerica in a research note on Wednesday, March 5th. Barclays increased their price objective on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. Finally, Piper Sandler raised their price target on Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Comerica presently has a consensus rating of “Hold” and a consensus price target of $68.29.

Comerica Stock Performance

CMA opened at $57.75 on Monday. The firm has a market capitalization of $7.58 billion, a P/E ratio of 11.50 and a beta of 1.23. The stock’s 50 day moving average price is $63.81 and its two-hundred day moving average price is $63.40. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45.

Comerica (NYSE:CMA) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) 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 last year, the business posted $1.46 earnings per share. On average, equities analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date is Friday, March 14th. Comerica’s dividend payout ratio (DPR) 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.