Comerica Incorporated (NYSE:CMA) shares purchased by National Bank of Canada FI


National Bank of Canada FI increased its stake in Comerica Incorporated (NYSE:CMA – Free Report) by 9.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 31,097 shares of the financial services provider, after buying an additional 2,627 shares during the period. National Bank of Canada FI’s assets in Comerica were worth $1,757,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently changed their holdings in the company. Raymond James & Associates increased its holdings in Comerica by 34.0% during the third quarter. Raymond James & Associates now owns 172,199 shares of the financial services provider’s stock worth $7,155,000 after purchasing an additional 43,679 shares during the period. Zurcher Kantonalbank Zürich Cantonalbank increased its stake in Comerica shares by 13.3% during the third quarter. Zurcher Kantonalbank Zürich Cantonalbank now owns 26,628 shares of the financial services provider’s stock worth $1,106,000 after acquiring an additional 3,130 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Comerica by 10.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,742 shares of the financial services provider’s stock valued at $363,000 after acquiring an additional 856 shares in the last quarter. Fifth Third Bancorp increased its stake in Comerica by 7.4% in the third quarter. Fifth Third Bancorp now owns 15,120 shares of the financial services provider’s stock worth $628,000 after purchasing an additional 1,036 shares during the period. Finally, New Mexico Educational Retirement Board increased its position in Comerica by 7.9% during the third quarter. New Mexico Educational Retirement Board now owns 6,864 shares of the financial services provider’s stock worth $285,000 after purchasing an additional 500 shares in the last quarter. 80.74% of the shares are held by institutional investors and hedge funds.

Wall Street analysts weigh in

Several analysts have recently commented on CMA stock. Bank Of America (Bofa) raised their target price on Comerica from $52.00 to $55.00 and gave the stock a “neutral” rating in a research report on Thursday, January 18. Royal Bank of Canada lifted their price target on Comerica from $61.00 to $62.00 and gave the company an “outperform” rating in a report on Friday, April 19. Keefe, Bruyette & Woods lowered their price target on shares of Comerica from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Monday, January 22. Citigroup downgraded shares of Comerica from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $60.00 to $56.00 in a research note on Monday, May 6. Finally, Raymond James downgraded shares of Comerica from an “outperform” rating to a “market perform” rating in a research note on Monday, January 22nd. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $56.89.

Check out our latest research report on Comerica

Insider activity at Comerica

In other Comerica news: EVP Cassandra M. Mckinney sold 7,271 shares of Comerica stock in a transaction that occurred on Wednesday, April 24. The stock sold at an average price of $52.59, for a total value of $382,381.89. Following the transaction, the executive vice president now directly owns 7,236 shares of the company’s stock, valued at approximately $380,541.24. The sale was disclosed in a document filed with the SEC, which can be accessed via this link. 0.19% of the shares are owned by business insiders.

Comerica is trading 0.7% lower

CMA shares opened at $53.19 on Tuesday. Comerica Incorporated has a 12-month low of $32.04 and a 12-month high of $57.39. The company has a market cap of $7.05 billion, a price-to-earnings ratio of 10.57 and a beta of 1.27. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. The company’s 50 day moving average is $52.20 and its 200 day moving average is $50.73.

Comerica (NYSE:CMA – Get Free Report) posted its latest quarterly earnings data on Thursday, April 18. The financial services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.16. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same period last year, the company earned $2.39 in earnings per share. Equities analysts predict that Comerica Incorporated will post 5.16 earnings per share for the current year.

Comerica announces dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1. Shareholders of record on Friday, June 14 will receive a dividend of $0.71. The ex-dividend date is Friday, June 14. This represents a dividend of $2.84 annually and a dividend yield of 5.34%. Comerica’s payout ratio currently stands at 56.46%.

About Comerica

(Free report)

Comerica Incorporated provides various financial products and services through its subsidiaries. The company operates through Commercial Bank, Retail Bank, Wealth Management and Finance segments. The Commercial Bank segment offers a variety of products and services, including commercial loans and lines of credit, deposits, cash management, payment solutions, card services, capital markets products, international trade finance, letters of credit, currency management services and loan syndication services. for small and medium-sized businesses, multinational corporations and government agencies.

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Quarterly Institutional Ownership for Comerica (NYSE:CMA)



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