Barrow Hanley Mewhinney & Strauss LLC Acquires 492,381 Shares of Comerica Incorporated (NYSE:CMA)

Barrow Hanley Mewhinney & Strauss LLC lifted its position in Comerica Incorporated (NYSE:CMA - Free Report) by 29.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,149,591 shares of the financial services provider's stock after purchasing an additional 492,381 shares during the period. Barrow Hanley Mewhinney & Strauss LLC owned about 1.63% of Comerica worth $132,952,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its holdings in Comerica by 5.2% in the 4th quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider's stock worth $242,000 after buying an additional 200 shares during the period. Bessemer Group Inc. lifted its position in shares of Comerica by 2.0% in the fourth quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider's stock valued at $672,000 after acquiring an additional 211 shares in the last quarter. V Square Quantitative Management LLC boosted its stake 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 worth $51,000 after acquiring an additional 221 shares during the period. US Bancorp DE grew its position in shares of Comerica by 2.0% during the fourth quarter. US Bancorp DE now owns 11,823 shares of the financial services provider's stock worth $731,000 after purchasing an additional 227 shares in the last quarter. Finally, MCF Advisors LLC raised its stake in Comerica by 56.3% during the 4th 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 period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Argus upgraded Comerica to a "hold" rating in a research note on Friday, January 31st. Truist Financial dropped their target price on shares of 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 reduced their price target on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. The Goldman Sachs Group decreased their price target on shares of Comerica from $66.00 to $57.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Finally, 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. Six research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Comerica has a consensus rating of "Hold" and a consensus target price of $62.37.

Comerica Trading Down 0.3%

Shares of NYSE CMA traded down $0.18 during mid-day trading on Wednesday, reaching $57.22. The company had a trading volume of 357,560 shares, compared to its average volume of 2,182,473. The stock has a market cap of $7.52 billion, a price-to-earnings ratio of 11.39 and a beta of 0.92. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45. The business's 50-day moving average is $55.40 and its 200-day moving average is $61.61. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA - Get Free Report) last issued its earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, topping analysts' consensus estimates of $1.14 by $0.11. The business had revenue of $829.00 million for the quarter, compared to the consensus estimate of $839.31 million. 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 firm earned $1.29 EPS. Equities analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $0.71 per share. The ex-dividend date is Friday, June 13th. This represents a $2.84 annualized dividend and a yield of 4.96%. Comerica's payout ratio is currently 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.