Truist Financial Corp Sells 3,892 Shares of Comerica Incorporated (NYSE:CMA)

Truist Financial Corp lessened its stake in shares of Comerica Incorporated (NYSE:CMA) by 50.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,803 shares of the financial services provider’s stock after selling 3,892 shares during the quarter. Truist Financial Corp’s holdings in Comerica were worth $235,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. State Street Corp grew its stake in shares of 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 buying an additional 96,084 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Comerica by 5.5% in the third 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 during the last quarter. Vaughan Nelson Investment Management L.P. grew its stake in shares of Comerica by 3.0% in the fourth 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 last quarter. Azora Capital LP grew its stake in shares of Comerica by 7.8% in the third quarter. Azora Capital LP now owns 2,230,369 shares of the financial services provider’s stock worth $133,621,000 after purchasing an additional 161,181 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Comerica by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,111,845 shares of the financial services provider’s stock worth $126,555,000 after purchasing an additional 29,661 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Comerica Price Performance

Shares of NYSE CMA opened at $58.47 on Friday. The firm’s 50-day moving average price is $64.42 and its 200-day moving average price is $63.28. 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 $7.68 billion, a P/E ratio of 11.65 and a beta of 1.25. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA) last posted its 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 posted $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 Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 4.86%. Comerica’s dividend payout ratio is presently 56.57%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on CMA shares. UBS Group started coverage on shares of Comerica in a research note on Tuesday, December 17th. They issued a “sell” rating and a $64.00 price objective on the stock. Morgan Stanley reduced their price objective on shares of Comerica from $76.00 to $71.00 and set an “equal weight” rating on the stock in a research note on Thursday, January 23rd. Piper Sandler boosted their price objective on shares of Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Argus raised shares of Comerica to a “hold” rating in a research note on Friday, January 31st. Finally, Royal Bank of Canada reduced their price objective on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $68.67.

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.