Dimensional Fund Advisors LP Has $206.47 Million Stock Position in Comerica Incorporated (NYSE:CMA)

Dimensional Fund Advisors LP boosted its position in Comerica Incorporated (NYSE:CMA) by 51.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 4,045,656 shares of the financial services provider’s stock after purchasing an additional 1,370,886 shares during the period. Dimensional Fund Advisors LP owned about 3.05% of Comerica worth $206,468,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of CMA. Family Firm Inc. bought a new position in Comerica in the 2nd quarter valued at about $37,000. UMB Bank n.a. raised its holdings in Comerica by 39.3% in the 2nd quarter. UMB Bank n.a. now owns 737 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 208 shares during the period. Versant Capital Management Inc raised its holdings in Comerica by 2,723.3% in the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after acquiring an additional 817 shares during the period. Abich Financial Wealth Management LLC raised its holdings in Comerica by 50.2% in the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock valued at $49,000 after acquiring an additional 300 shares during the period. Finally, Summit Securities Group LLC raised its holdings in Comerica by 22.4% in the 2nd quarter. Summit Securities Group LLC now owns 1,102 shares of the financial services provider’s stock valued at $56,000 after acquiring an additional 202 shares during the period. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CMA has been the topic of several recent research reports. Truist Financial cut shares of Comerica from a “buy” rating to a “hold” rating and lowered their target price for the stock from $55.00 to $53.00 in a report on Monday, July 22nd. Robert W. Baird lowered their target price on shares of Comerica from $72.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. JPMorgan Chase & Co. lowered their target price on shares of Comerica from $62.00 to $57.00 and set a “neutral” rating on the stock in a report on Thursday, June 27th. StockNews.com raised shares of Comerica from a “sell” rating to a “hold” rating in a report on Monday. Finally, Morgan Stanley raised their target price on shares of Comerica from $50.00 to $61.00 and gave the stock an “equal weight” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $55.73.

Comerica Stock Performance

Shares of Comerica stock opened at $61.12 on Friday. Comerica Incorporated has a fifty-two week low of $37.40 and a fifty-two week high of $61.74. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $8.10 billion, a P/E ratio of 12.15 and a beta of 1.23. The company’s 50 day moving average price is $55.01 and its two-hundred day moving average price is $52.51.

Comerica (NYSE:CMA) last issued its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The firm had revenue of $1.26 billion for the quarter, compared to analyst estimates of $812.79 million. During the same quarter last year, the business posted $2.01 earnings per share. On average, equities analysts forecast that Comerica Incorporated will post 5.05 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, September 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.65%. Comerica’s dividend payout ratio (DPR) is presently 56.46%.

Insider Transactions at Comerica

In other news, EVP Christine M. Moore sold 2,545 shares of Comerica stock in a transaction on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total transaction of $146,362.95. Following the transaction, the executive vice president now owns 27,910 shares in the company, valued at $1,605,104.10. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.19% of the stock is owned by company insiders.

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.