US Bancorp DE Grows Stock Holdings in Comerica Incorporated (NYSE:CMA)

US Bancorp DE boosted its position in Comerica Incorporated (NYSE:CMA) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,823 shares of the financial services provider’s stock after acquiring an additional 227 shares during the period. US Bancorp DE’s holdings in Comerica were worth $731,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in Comerica by 134.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock worth $51,309,000 after acquiring an additional 490,468 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Comerica by 158.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 20,324 shares of the financial services provider’s stock valued at $1,218,000 after purchasing an additional 12,454 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 valued at $257,975,000 after purchasing an additional 226,285 shares during the last quarter. Citigroup Inc. boosted its holdings in shares of Comerica by 390.6% in the 3rd quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider’s stock valued at $45,628,000 after purchasing an additional 606,375 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new position in shares of Comerica in the 3rd quarter valued at $1,905,000. 80.74% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CMA has been the topic of a number of research analyst reports. Royal Bank of Canada decreased their price target on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Truist Financial upgraded shares of Comerica to a “hold” rating in a report on Monday, January 6th. Robert W. Baird lifted their price target on shares of Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a report on Tuesday, February 11th. Stephens restated an “overweight” rating and set a $72.00 target price on shares of Comerica in a report on Wednesday, March 5th. Finally, UBS Group assumed coverage on shares of Comerica in a report on Tuesday, December 17th. They set a “sell” rating and a $64.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Comerica currently has a consensus rating of “Hold” and an average target price of $68.67.

Comerica Stock Performance

Shares of CMA stock opened at $56.24 on Tuesday. The company’s fifty day moving average price is $64.16 and its two-hundred day moving average price is $63.38. The firm has a market capitalization of $7.39 billion, a P/E ratio of 11.20 and a beta of 1.23. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97.

Comerica (NYSE:CMA) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing the consensus estimate 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 in the prior year, the company posted $1.46 earnings per share. On average, research analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 5.05%. The ex-dividend date of this dividend is Friday, March 14th. Comerica’s payout ratio is currently 56.57%.

Comerica 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.