Prudential Financial Inc. reduced its position in Comerica Incorporated (NYSE:CMA – Free Report) by 82.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 22,938 shares of the financial services provider’s stock after selling 111,098 shares during the period. Prudential Financial Inc.’s holdings in Comerica were worth $1,419,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Comerica by 11.5% during the third quarter. FMR LLC now owns 35,009 shares of the financial services provider’s stock valued at $2,097,000 after buying an additional 3,599 shares during the last quarter. Captrust Financial Advisors boosted its holdings in Comerica by 19.1% during the 3rd quarter. Captrust Financial Advisors now owns 14,085 shares of the financial services provider’s stock valued at $844,000 after acquiring an additional 2,263 shares during the period. Benjamin Edwards Inc. bought a new position in Comerica in the 3rd quarter valued at $348,000. Hilltop Holdings Inc. purchased a new stake in Comerica in the third quarter worth $300,000. Finally, HighTower Advisors LLC lifted its position in shares of Comerica by 6.8% during the third quarter. HighTower Advisors LLC now owns 40,915 shares of the financial services provider’s stock worth $2,450,000 after purchasing an additional 2,590 shares during the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research firms have recently commented on CMA. UBS Group began coverage on shares of Comerica in a report on Tuesday, December 17th. They issued a “sell” rating and a $64.00 price target on the stock. Morgan Stanley reduced their target price on shares of Comerica from $71.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 13th. Truist Financial upgraded Comerica to a “hold” rating in a report on Monday, January 6th. Barclays raised their price objective on Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a report on Monday, January 6th. Finally, Compass Point increased their price target on Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Comerica presently has a consensus rating of “Hold” and a consensus target price of $67.95.
Check Out Our Latest Report on Comerica
Comerica Price Performance
NYSE CMA opened at $51.48 on Friday. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45. The firm’s fifty day simple moving average is $62.28 and its two-hundred day simple moving average is $63.54. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm has a market capitalization of $6.75 billion, a P/E ratio of 10.26 and a beta of 1.23.
Comerica (NYSE:CMA – Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing analysts’ consensus estimates 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 period in the previous year, the firm earned $1.46 earnings per share. Analysts forecast that Comerica Incorporated will post 5.28 EPS for the current fiscal year.
Comerica Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.52%. The ex-dividend date of this dividend was Friday, March 14th. Comerica’s dividend payout ratio (DPR) is presently 56.57%.
Comerica Profile
(Free Report)
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.
See Also
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