Comerica Incorporated (NYSE:CMA) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its holdings in shares of Comerica Incorporated (NYSE:CMA) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,343,131 shares of the financial services provider’s stock after buying an additional 48,526 shares during the quarter. Charles Schwab Investment Management Inc. owned 2.54% of Comerica worth $186,580,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Vaughan Nelson Investment Management L.P. grew its stake in Comerica by 129.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock valued at $107,716,000 after purchasing an additional 1,088,330 shares during the last quarter. North Reef Capital Management LP boosted its position in Comerica by 43.0% in the third quarter. North Reef Capital Management LP now owns 2,880,000 shares of the financial services provider’s stock valued at $119,664,000 after buying an additional 865,870 shares during the last quarter. rhino investment partners Inc increased its holdings in Comerica by 684.2% in the 3rd quarter. rhino investment partners Inc now owns 744,956 shares of the financial services provider’s stock worth $30,953,000 after buying an additional 649,956 shares during the period. Artemis Investment Management LLP purchased a new position in Comerica during the 4th quarter worth approximately $31,018,000. Finally, Adage Capital Partners GP L.L.C. lifted its stake in Comerica by 46.1% during the 3rd quarter. Adage Capital Partners GP L.L.C. now owns 1,462,906 shares of the financial services provider’s stock valued at $60,784,000 after acquiring an additional 461,741 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Comerica Trading Down 1.0 %

NYSE:CMA opened at $53.35 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.26. The firm has a market cap of $7.07 billion, a PE ratio of 10.61 and a beta of 1.27. The stock has a fifty day moving average price of $52.06 and a 200 day moving average price of $50.36. Comerica Incorporated has a 12-month low of $30.98 and a 12-month high of $57.39.

Comerica (NYSE:CMA) last issued its earnings results on Thursday, April 18th. The financial services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. The firm had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same quarter in the previous year, the firm posted $2.39 earnings per share. Sell-side analysts anticipate that Comerica Incorporated will post 5.16 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 5.32%. The ex-dividend date is Friday, June 14th. Comerica’s payout ratio is 56.46%.

Insider Transactions at Comerica

In other news, EVP Cassandra M. Mckinney sold 7,271 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the transaction, the executive vice president now directly owns 7,236 shares in the company, valued at $380,541.24. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, EVP Wendy Bridges sold 3,034 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $52.74, for a total value of $160,013.16. Following the transaction, the executive vice president now owns 17,460 shares of the company’s stock, valued at $920,840.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Cassandra M. Mckinney sold 7,271 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total value of $382,381.89. Following the sale, the executive vice president now directly owns 7,236 shares of the company’s stock, valued at $380,541.24. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

CMA has been the topic of a number of recent research reports. Morgan Stanley restated an “equal weight” rating and issued a $53.00 target price on shares of Comerica in a research note on Monday, April 22nd. DA Davidson restated a “neutral” rating and issued a $56.00 price objective on shares of Comerica in a research report on Wednesday, March 6th. Royal Bank of Canada lifted their target price on shares of Comerica from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, April 19th. Piper Sandler increased their price target on shares of Comerica from $54.00 to $56.00 and gave the stock a “neutral” rating in a report on Friday, April 26th. Finally, Truist Financial cut their price objective on shares of Comerica from $62.00 to $60.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $56.89.

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.