Comerica Incorporated (NYSE:CMA) Shares Bought by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc lifted its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 27.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 93,766 shares of the financial services provider's stock after purchasing an additional 20,153 shares during the quarter. Ensign Peak Advisors Inc owned about 0.07% of Comerica worth $5,799,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Trust Co. of Vermont increased its holdings in shares of Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock valued at $26,000 after purchasing an additional 321 shares during the last quarter. Luken Investment Analytics LLC acquired a new stake in shares of Comerica in the fourth quarter valued at approximately $31,000. MCF Advisors LLC increased its holdings in shares of Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 228 shares during the last quarter. V Square Quantitative Management LLC increased its holdings in shares of Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 221 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Comerica by 152.0% in the fourth quarter. Quarry LP now owns 867 shares of the financial services provider's stock valued at $54,000 after purchasing an additional 523 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. UBS Group upgraded Comerica from a "sell" rating to a "neutral" rating and set a $59.00 price objective for the company in a research report on Thursday, April 10th. Truist Financial lowered their price objective on Comerica from $65.00 to $57.00 and set a "hold" rating for the company in a research report on Tuesday, April 22nd. Keefe, Bruyette & Woods lowered their price objective on Comerica from $77.00 to $68.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley lowered Comerica from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $63.00 to $55.00 in a research report on Monday, April 7th. Finally, JPMorgan Chase & Co. lowered Comerica from a "neutral" rating to an "underweight" rating and lowered their price objective for the stock from $64.00 to $52.00 in a research report on Tuesday, April 22nd. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $63.22.

Comerica Trading Up 1.3%

Shares of NYSE CMA traded up $0.73 during trading on Friday, reaching $58.81. The stock had a trading volume of 1,297,202 shares, compared to its average volume of 2,199,750. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The business's 50-day moving average price is $55.56 and its 200-day moving average price is $62.05. The company has a market cap of $7.73 billion, a P/E ratio of 11.71 and a beta of 0.92.

Comerica (NYSE:CMA - Get Free Report) last released its earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.14 by $0.11. The firm had revenue of $829.00 million during the quarter, compared to analyst estimates of $839.31 million. Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same period last year, the business posted $1.29 earnings per share. On average, equities research analysts predict that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be issued a $0.71 dividend. The ex-dividend date is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a yield of 4.83%. Comerica's dividend payout ratio (DPR) is presently 53.69%.

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.