Corient Private Wealth LLC Sells 2,562 Shares of Comerica Incorporated (NYSE:CMA)

Corient Private Wealth LLC lessened its stake in shares of Comerica Incorporated (NYSE:CMA) by 5.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,782 shares of the financial services provider’s stock after selling 2,562 shares during the quarter. Corient Private Wealth LLC’s holdings in Comerica were worth $2,955,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of CMA. Atria Investments Inc bought a new position in shares of Comerica during the 3rd quarter worth approximately $219,000. Victory Capital Management Inc. lifted its position in shares of Comerica by 38.2% during the 3rd quarter. Victory Capital Management Inc. now owns 43,328 shares of the financial services provider’s stock worth $2,596,000 after buying an additional 11,981 shares during the period. Pathstone Holdings LLC lifted its position in shares of Comerica by 4.2% during the 3rd quarter. Pathstone Holdings LLC now owns 107,009 shares of the financial services provider’s stock worth $6,414,000 after buying an additional 4,282 shares during the period. Caprock Group LLC bought a new position in shares of Comerica during the 3rd quarter worth approximately $204,000. Finally, Integrated Investment Consultants LLC bought a new position in shares of Comerica during the 3rd quarter worth approximately $323,000. Institutional investors own 80.74% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Morgan Stanley dropped their price target on Comerica from $71.00 to $63.00 and set an “equal weight” rating for the company in a report on Thursday, March 13th. UBS Group assumed coverage on Comerica in a report on Tuesday, December 17th. They set a “sell” rating and a $64.00 price target for the company. Piper Sandler raised their price target on Comerica from $64.00 to $72.00 and gave the company a “neutral” rating in a report on Tuesday, December 3rd. Stephens reaffirmed an “overweight” rating and set a $72.00 price target on shares of Comerica in a report on Wednesday, March 5th. Finally, Compass Point lifted their target price on Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $68.29.

Comerica Stock Performance

CMA stock opened at $58.99 on Friday. The business’s 50-day moving average price is $63.47 and its two-hundred day moving average price is $63.43. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The firm has a market cap of $7.74 billion, a PE ratio of 11.75 and a beta of 1.23. Comerica Incorporated has a 1-year low of $45.32 and a 1-year high of $73.45.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing analysts’ consensus estimates 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 prior year, the business earned $1.46 earnings per share. As a group, research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 4.81%. Comerica’s dividend payout ratio (DPR) is 56.57%.

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.