Amundi Increases Position in Comerica Incorporated (NYSE:CMA)

Amundi increased its position in Comerica Incorporated (NYSE:CMA) by 342.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 143,384 shares of the financial services provider’s stock after acquiring an additional 111,005 shares during the period. Amundi owned approximately 0.11% of Comerica worth $8,931,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. LHM Inc. increased its holdings in shares of Comerica by 209.2% in the fourth quarter. LHM Inc. now owns 135,252 shares of the financial services provider’s stock valued at $8,461,000 after purchasing an additional 91,512 shares during the period. Raymond James Financial Inc. acquired a new position in Comerica in the 4th quarter worth approximately $7,787,000. Arizona State Retirement System raised its position in Comerica by 0.9% during the 4th quarter. Arizona State Retirement System now owns 38,504 shares of the financial services provider’s stock worth $2,381,000 after buying an additional 326 shares during the last quarter. Aigen Investment Management LP acquired a new stake in Comerica during the 4th quarter valued at approximately $602,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Comerica in the fourth quarter worth $6,901,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on CMA. Morgan Stanley decreased 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 report on Thursday. UBS Group began coverage on Comerica in a research note on Tuesday, December 17th. They issued a “sell” rating and a $64.00 target price on the stock. DA Davidson dropped their target price on Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Wells Fargo & Company upgraded Comerica from an “underweight” rating to an “equal weight” rating and upped their price objective for the stock from $51.00 to $73.00 in a research report on Friday, November 15th. Finally, Piper Sandler lifted their price objective on shares of Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $68.29.

Comerica Trading Up 1.2 %

Shares of CMA opened at $57.75 on Friday. Comerica Incorporated has a 52-week low of $45.32 and a 52-week high of $73.45. The stock has a market cap of $7.58 billion, a PE ratio of 11.50 and a beta of 1.23. The firm’s fifty day moving average is $63.81 and its two-hundred day moving average is $63.30. 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 posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter last year, the business earned $1.46 EPS. Research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $0.71 dividend. The ex-dividend date is Friday, March 14th. This represents a $2.84 annualized dividend and a dividend yield of 4.92%. Comerica’s dividend payout ratio is presently 56.57%.

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.