Atria Wealth Solutions Inc. Increases Position in Comerica Incorporated (NYSE:CMA)

Atria Wealth Solutions Inc. raised its position in shares of Comerica Incorporated (NYSE:CMA) by 67.3% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,985 shares of the financial services provider’s stock after buying an additional 2,809 shares during the period. Atria Wealth Solutions Inc.’s holdings in Comerica were worth $432,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CMA. International Assets Investment Management LLC acquired a new position in shares of Comerica in the third quarter valued at approximately $11,091,000. Wealth Enhancement Advisory Services LLC boosted its position in Comerica by 31.1% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 9,335 shares of the financial services provider’s stock valued at $559,000 after buying an additional 2,215 shares during the period. First Trust Direct Indexing L.P. grew its stake in shares of Comerica by 77.0% in the third quarter. First Trust Direct Indexing L.P. now owns 12,205 shares of the financial services provider’s stock worth $731,000 after acquiring an additional 5,311 shares in the last quarter. US Bancorp DE increased its position in shares of Comerica by 29.1% during the third quarter. US Bancorp DE now owns 11,596 shares of the financial services provider’s stock worth $695,000 after acquiring an additional 2,615 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in shares of Comerica by 43.6% in the third quarter. Farther Finance Advisors LLC now owns 4,120 shares of the financial services provider’s stock valued at $247,000 after acquiring an additional 1,251 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Barclays boosted their target price on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. Royal Bank of Canada lowered their price objective on Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Truist Financial raised shares of Comerica to a “hold” rating in a report on Monday, January 6th. Keefe, Bruyette & Woods lowered their price target on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Finally, DA Davidson dropped their price objective on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Comerica has an average rating of “Hold” and an average target price of $68.57.

Comerica Stock Performance

NYSE CMA opened at $63.50 on Friday. The company has a fifty day moving average of $64.45 and a two-hundred day moving average of $63.03. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The company has a market capitalization of $8.35 billion, a PE ratio of 12.65 and a beta of 1.25.

Comerica (NYSE:CMA) last announced 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 firm earned $1.46 earnings per share. As a group, analysts expect 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. Stockholders of record on Friday, March 14th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.47%. Comerica’s dividend payout ratio (DPR) is presently 56.57%.

Comerica announced that its board has approved a stock repurchase plan on Tuesday, November 5th that allows the company to repurchase 10,000,000 shares. This repurchase authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

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.