Great Lakes Advisors LLC Purchases 57,468 Shares of Comerica Incorporated (NYSE:CMA)

Great Lakes Advisors LLC raised its position in shares of Comerica Incorporated (NYSE:CMA) by 73.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 135,556 shares of the financial services provider’s stock after purchasing an additional 57,468 shares during the period. Great Lakes Advisors LLC’s holdings in Comerica were worth $8,384,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of CMA. Wedmont Private Capital increased its stake in shares of Comerica by 2.4% during the fourth quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock valued at $474,000 after buying an additional 186 shares during the period. Blue Trust Inc. grew its holdings in Comerica by 5.2% during the 4th quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock worth $242,000 after acquiring an additional 200 shares in the last quarter. V Square Quantitative Management LLC increased its position 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 purchasing an additional 221 shares during the period. US Bancorp DE raised its holdings in shares of Comerica by 2.0% in the 4th quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock valued at $731,000 after purchasing an additional 227 shares in the last quarter. Finally, MCF Advisors LLC lifted 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 worth $39,000 after purchasing an additional 228 shares during the period. 80.74% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently commented on CMA. Royal Bank of Canada reduced their price objective on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research note on Thursday, January 23rd. Piper Sandler boosted their price target on Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. UBS Group assumed coverage on Comerica in a research report on Tuesday, December 17th. They set a “sell” rating and a $64.00 price objective on the stock. Compass Point boosted their target price on shares of Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Truist Financial upgraded shares of Comerica to a “hold” rating in a report on Monday, January 6th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Comerica presently has an average rating of “Hold” and a consensus price target of $68.29.

Comerica Trading Down 1.1 %

Comerica stock opened at $57.09 on Friday. The stock has a 50-day moving average price of $63.99 and a 200 day moving average price of $63.34. The company has a market capitalization of $7.50 billion, a price-to-earnings ratio of 11.37 and a beta of 1.23. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45. 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 (NYSE:CMA) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing the consensus estimate 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 quarter in the previous year, the company earned $1.46 earnings per share. Sell-side analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.97%. The ex-dividend date is Friday, March 14th. Comerica’s dividend payout ratio is currently 56.57%.

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.