Cyndeo Wealth Partners LLC Acquires Shares of 112,101 Comerica Incorporated (NYSE:CMA)

Cyndeo Wealth Partners LLC acquired a new position in shares of Comerica Incorporated (NYSE:CMA - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 112,101 shares of the financial services provider's stock, valued at approximately $6,621,000. Cyndeo Wealth Partners LLC owned approximately 0.09% of Comerica at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Yousif Capital Management LLC increased its position in shares of Comerica by 52.7% during the 4th quarter. Yousif Capital Management LLC now owns 11,355 shares of the financial services provider's stock worth $702,000 after purchasing an additional 3,918 shares in the last quarter. Empowered Funds LLC acquired a new position in Comerica during the 4th quarter worth $355,000. Savant Capital LLC boosted its position in Comerica by 2.2% in the 4th quarter. Savant Capital LLC now owns 13,037 shares of the financial services provider's stock valued at $806,000 after buying an additional 277 shares during the last quarter. Salzhauer Michael increased its stake in shares of Comerica by 39.2% in the 4th quarter. Salzhauer Michael now owns 165,971 shares of the financial services provider's stock valued at $10,265,000 after buying an additional 46,700 shares during the period. Finally, V Square Quantitative Management LLC raised its position in shares of Comerica by 36.7% during 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 last quarter. 80.74% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

CMA has been the topic of several recent research reports. Royal Bank Of Canada reduced their target price on shares of Comerica from $75.00 to $65.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley lowered Comerica from an "equal weight" rating to an "underweight" rating and cut their target price for the company from $63.00 to $55.00 in a research note on Monday, April 7th. Piper Sandler boosted their price target on shares of Comerica from $57.00 to $60.00 and gave the company a "neutral" rating in a report on Wednesday, June 11th. Jefferies Financial Group assumed coverage on shares of Comerica in a report on Wednesday, May 21st. They set an "underperform" rating and a $47.00 target price on the stock. Finally, Robert W. Baird cut their target price on Comerica from $80.00 to $75.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $61.95.

Comerica Trading Up 1.4%

Shares of Comerica stock traded up $0.76 on Thursday, reaching $55.76. 1,068,199 shares of the company's stock were exchanged, compared to its average volume of 2,152,438. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $7.33 billion, a P/E ratio of 10.54 and a beta of 0.92. The firm's 50-day moving average is $55.62 and its two-hundred day moving average is $60.20. Comerica Incorporated has a 52 week low of $46.61 and a 52 week high of $73.45.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, topping analysts' consensus estimates of $1.14 by $0.11. Comerica had a return on equity of 11.59% and a net margin of 14.89%. The business had revenue of $829.00 million for the quarter, compared to the consensus estimate of $839.31 million. During the same period in the prior year, the business earned $1.29 EPS. Sell-side analysts predict that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a yield of 5.09%. Comerica's dividend payout ratio (DPR) 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.