Comerica Incorporated (NYSE:CMA) Shares Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Comerica Incorporated (NYSE:CMA) by 2.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,045 shares of the financial services provider’s stock after purchasing an additional 687 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Comerica were worth $1,796,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of CMA. Wedmont Private Capital raised its position in shares of Comerica by 2.4% during the 4th 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. raised its position in Comerica by 5.2% in the fourth quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 200 shares during the period. V Square Quantitative Management LLC lifted its stake in shares of Comerica by 36.7% in 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 last quarter. US Bancorp DE grew its holdings in shares of Comerica by 2.0% during the 4th quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock worth $731,000 after purchasing an additional 227 shares during the period. Finally, MCF Advisors LLC increased its position in shares of Comerica by 56.3% during 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 last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on CMA. Morgan Stanley lowered their target price on shares of Comerica from $71.00 to $63.00 and set an “equal weight” rating for the company in a research note on Thursday, March 13th. DA Davidson dropped their target price on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. The Goldman Sachs Group cut Comerica from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $85.00 to $71.00 in a research note on Tuesday, January 7th. Truist Financial raised Comerica to a “hold” rating in a research note on Monday, January 6th. Finally, Keefe, Bruyette & Woods decreased their target price on Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Three 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 stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $68.29.

Comerica Stock Up 0.6 %

Shares of NYSE CMA opened at $60.87 on Wednesday. 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 $7.99 billion, a price-to-earnings ratio of 12.13 and a beta of 1.23. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The business has a 50-day moving average of $63.41 and a two-hundred day moving average of $63.57.

Comerica (NYSE:CMA) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same period in the previous year, the firm posted $1.46 EPS. On average, analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Friday, March 14th. Comerica’s payout ratio is 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.