Comerica Incorporated (NYSE:CMA) Stake Raised by Swiss National Bank

Swiss National Bank boosted its holdings in Comerica Incorporated (NYSE:CMA) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 261,000 shares of the financial services provider’s stock after acquiring an additional 2,000 shares during the quarter. Swiss National Bank owned about 0.20% of Comerica worth $16,143,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of CMA. Atria Investments Inc acquired a new stake in Comerica during the 3rd quarter worth about $219,000. Victory Capital Management Inc. raised its holdings in 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. Oppenheimer & Co. Inc. raised its holdings in Comerica by 158.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 20,324 shares of the financial services provider’s stock worth $1,218,000 after buying an additional 12,454 shares during the period. KBC Group NV raised its holdings in Comerica by 17.3% during the 3rd quarter. KBC Group NV now owns 3,955 shares of the financial services provider’s stock worth $237,000 after buying an additional 582 shares during the period. Finally, Natixis Advisors LLC raised its holdings in Comerica by 26.8% during the 3rd quarter. Natixis Advisors LLC now owns 413,690 shares of the financial services provider’s stock worth $24,784,000 after buying an additional 87,310 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Stock Up 0.8 %

Shares of Comerica stock opened at $58.37 on Wednesday. The stock has a market capitalization of $7.67 billion, a P/E ratio of 11.63 and a beta of 1.23. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The stock has a 50 day moving average price of $63.62 and a two-hundred day moving average price of $63.42. Comerica Incorporated has a 12-month low of $45.32 and a 12-month high of $73.45.

Comerica (NYSE:CMA) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (EPS) 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 period in the prior year, the firm posted $1.46 EPS. Equities analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Friday, March 14th. This represents a $2.84 annualized dividend and a dividend yield of 4.87%. Comerica’s dividend payout ratio is 56.57%.

Wall Street Analyst Weigh In

Several analysts have issued reports on CMA shares. Argus upgraded Comerica to a “hold” rating in a report on Friday, January 31st. Barclays upped their target price on Comerica from $66.00 to $68.00 and gave the company an “underweight” rating in a report on Monday, January 6th. The Goldman Sachs Group downgraded Comerica from a “buy” rating to a “neutral” rating and dropped their target price for the company from $85.00 to $71.00 in a report on Tuesday, January 7th. Compass Point upped their target price on Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Finally, Truist Financial upgraded Comerica to a “hold” rating in a report on Monday, January 6th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $68.29.

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.