Atria Wealth Solutions Inc. Boosts Holdings in Comerica Incorporated (NYSE:CMA)

Atria Wealth Solutions Inc. raised its stake in shares of Comerica Incorporated (NYSE:CMA) by 67.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 6,985 shares of the financial services provider’s stock after buying an additional 2,809 shares during the period. Atria Wealth Solutions Inc.’s holdings in Comerica were worth $432,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the stock. State Street Corp grew its holdings in Comerica by 2.0% during the third quarter. State Street Corp now owns 4,977,670 shares of the financial services provider’s stock worth $301,745,000 after acquiring an additional 96,084 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Comerica by 5.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,306,042 shares of the financial services provider’s stock worth $257,975,000 after purchasing an additional 226,285 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Comerica by 3.0% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider’s stock worth $153,462,000 after purchasing an additional 72,391 shares during the period. Azora Capital LP increased its holdings in shares of Comerica by 7.8% during the 3rd quarter. Azora Capital LP now owns 2,230,369 shares of the financial services provider’s stock valued at $133,621,000 after purchasing an additional 161,181 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Comerica by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,111,845 shares of the financial services provider’s stock valued at $126,555,000 after purchasing an additional 29,661 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on CMA. Keefe, Bruyette & Woods dropped their price target on shares of Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research report on Thursday, January 23rd. JPMorgan Chase & Co. cut their price target on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. 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. DA Davidson dropped their price objective on Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Finally, Truist Financial raised Comerica to a “hold” rating in a research note on Monday, January 6th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Comerica currently has an average rating of “Hold” and an average price target of $68.57.

Comerica Price Performance

CMA stock opened at $63.50 on Friday. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The firm has a market capitalization of $8.35 billion, a PE ratio of 12.65 and a beta of 1.25. 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 simple moving average of $64.45 and a 200-day simple moving average of $63.03.

Comerica (NYSE:CMA) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, missing the consensus estimate 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. Equities research analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date of this dividend is Friday, March 14th. Comerica’s dividend payout ratio (DPR) is presently 56.57%.

Comerica announced that its board has authorized a stock repurchase plan on Tuesday, November 5th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the financial services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

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.