Eagle Asset Management Inc. Boosts Stake in Comerica Incorporated (NYSE:CMA)

Eagle Asset Management Inc. raised its stake in Comerica Incorporated (NYSE:CMAGet Rating) by 18.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 164,072 shares of the financial services provider’s stock after purchasing an additional 25,534 shares during the quarter. Eagle Asset Management Inc.’s holdings in Comerica were worth $14,277,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Concord Wealth Partners raised its position in shares of Comerica by 191.8% during the 4th quarter. Concord Wealth Partners now owns 286 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 188 shares during the period. Kings Point Capital Management bought a new position in Comerica during the 3rd quarter valued at $32,000. Hexagon Capital Partners LLC bought a new stake in shares of Comerica during the 4th quarter worth $35,000. Arlington Partners LLC bought a new stake in shares of Comerica during the 4th quarter worth $48,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of Comerica by 79.8% in the fourth quarter. Global Retirement Partners LLC now owns 577 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 256 shares in the last quarter. Hedge funds and other institutional investors own 80.14% of the company’s stock.

Several equities analysts have weighed in on the company. StockNews.com upgraded Comerica from a “sell” rating to a “hold” rating in a report on Thursday. Piper Sandler upgraded shares of Comerica from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $90.00 to $94.00 in a research note on Monday, May 2nd. Compass Point upgraded shares of Comerica from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $105.00 to $115.00 in a research report on Wednesday, February 16th. Citigroup started coverage on shares of Comerica in a report on Thursday, March 24th. They set a “buy” rating for the company. Finally, The Goldman Sachs Group raised shares of Comerica from a “sell” rating to a “neutral” rating and boosted their price target for the company from $102.00 to $112.00 in a report on Friday, April 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $101.95.

Shares of CMA opened at $73.08 on Friday. The company’s fifty day moving average is $86.31 and its 200 day moving average is $89.24. Comerica Incorporated has a fifty-two week low of $63.07 and a fifty-two week high of $102.09. The stock has a market capitalization of $9.56 billion, a PE ratio of 10.08, a P/E/G ratio of 1.62 and a beta of 1.33. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.88 and a current ratio of 0.88.

Comerica (NYSE:CMAGet Rating) last posted its quarterly earnings results on Wednesday, April 20th. The financial services provider reported $1.37 EPS for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). The company had revenue of $700.00 million during the quarter, compared to the consensus estimate of $725.36 million. Comerica had a return on equity of 13.85% and a net margin of 33.48%. During the same quarter in the previous year, the company posted $2.43 earnings per share. As a group, research analysts forecast that Comerica Incorporated will post 7.24 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 1st. Investors of record on Wednesday, June 15th will be paid a $0.68 dividend. This represents a $2.72 dividend on an annualized basis and a yield of 3.72%. The ex-dividend date is Tuesday, June 14th. Comerica’s dividend payout ratio (DPR) is presently 37.52%.

In other Comerica news, EVP Wendy Bridges sold 1,100 shares of the stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $93.78, for a total transaction of $103,158.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.76% of the stock is owned by corporate insiders.

Comerica Company Profile (Get Rating)

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It 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, 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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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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