Focus Partners Wealth Takes $426,000 Position in Comerica Incorporated (NYSE:CMA)

Focus Partners Wealth purchased a new stake in shares of Comerica Incorporated (NYSE:CMA) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 6,888 shares of the financial services provider’s stock, valued at approximately $426,000.

Other large investors also recently modified their holdings of the company. Trust Co. of Vermont boosted its stake in Comerica by 300.0% during the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after buying an additional 321 shares in the last quarter. Luken Investment Analytics LLC acquired a new position in shares of Comerica in the 4th quarter valued at $31,000. MCF Advisors LLC boosted its position in shares of Comerica by 56.3% in the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 228 shares during the period. V Square Quantitative Management LLC grew its stake in Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 221 shares in the last quarter. Finally, Quarry LP grew its stake in Comerica by 152.0% during the 4th quarter. Quarry LP now owns 867 shares of the financial services provider’s stock valued at $54,000 after acquiring an additional 523 shares in the last quarter. 80.74% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CMA has been the subject of several research reports. Truist Financial reduced their price target on Comerica from $65.00 to $57.00 and set a “hold” rating for the company in a report on Tuesday, April 22nd. Keefe, Bruyette & Woods reduced their price target on Comerica from $77.00 to $68.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Morgan Stanley lowered Comerica from an “equal weight” rating to an “underweight” rating and reduced their price target for the company from $63.00 to $55.00 in a report on Monday, April 7th. Stephens lowered Comerica from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $66.00 to $64.00 in a report on Monday, March 31st. Finally, Wells Fargo & Company reduced their target price on Comerica from $67.00 to $55.00 and set an “equal weight” rating for the company in a report on Tuesday, April 22nd. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $63.22.

Comerica Stock Performance

Shares of CMA stock opened at $58.09 on Wednesday. The business’s 50 day simple moving average is $55.60 and its 200 day simple moving average is $61.96. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45. The stock has a market capitalization of $7.63 billion, a PE ratio of 11.57 and a beta of 0.92. 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 (NYSE:CMA) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.11. Comerica had a return on equity of 12.04% and a net margin of 13.98%. The firm had revenue of $829.00 million for the quarter, compared to analyst estimates of $839.31 million. During the same period in the previous year, the firm earned $1.29 earnings per share. As a group, research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.89%. The ex-dividend date is Friday, June 13th. Comerica’s payout ratio is 53.69%.

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.