Cyndeo Wealth Partners LLC Invests $6.62 Million in Comerica Incorporated (NYSE:CMA)

Cyndeo Wealth Partners LLC purchased a new stake in Comerica Incorporated (NYSE:CMA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Bessemer Group Inc. raised its position in shares of Comerica by 2.0% during the fourth quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider's stock worth $672,000 after purchasing an additional 211 shares during the period. V Square Quantitative Management LLC raised its holdings in Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock worth $51,000 after buying an additional 221 shares during the period. US Bancorp DE raised its holdings in Comerica by 2.0% during the 4th quarter. US Bancorp DE now owns 11,823 shares of the financial services provider's stock worth $731,000 after buying an additional 227 shares during the period. Townsquare Capital LLC lifted its stake in Comerica by 4.6% during the fourth quarter. Townsquare Capital LLC now owns 5,811 shares of the financial services provider's stock valued at $359,000 after buying an additional 256 shares in the last quarter. Finally, Savant Capital LLC boosted its holdings in shares of Comerica by 2.2% in the fourth quarter. Savant Capital LLC now owns 13,037 shares of the financial services provider's stock worth $806,000 after buying an additional 277 shares during the period. Institutional investors and hedge funds own 80.74% of the company's stock.

Comerica Stock Down 0.8%

NYSE:CMA traded down $0.46 on Tuesday, hitting $55.01. The stock had a trading volume of 1,050,271 shares, compared to its average volume of 2,153,209. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.86. Comerica Incorporated has a 52 week low of $46.61 and a 52 week high of $73.45. The business's fifty day moving average is $55.61 and its 200 day moving average is $60.26. The company has a market cap of $7.23 billion, a PE ratio of 10.40 and a beta of 0.92.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $839.31 million. During the same period last year, the business earned $1.29 EPS. On average, equities research analysts expect that Comerica Incorporated will post 5.28 EPS for the current fiscal 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 given a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.16%. The ex-dividend date is Friday, June 13th. Comerica's payout ratio is 53.69%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CMA. Keefe, Bruyette & Woods decreased their price target on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Morgan Stanley lowered shares of Comerica from an "equal weight" rating to an "underweight" rating and decreased their target price for the company from $63.00 to $55.00 in a research note on Monday, April 7th. Piper Sandler upped their price target on shares of Comerica from $57.00 to $60.00 and gave the stock a "neutral" rating in a research note on Wednesday, June 11th. Evercore ISI cut Comerica from an "in-line" rating to an "underperform" rating and reduced their price objective for the company from $65.00 to $50.00 in a research report on Tuesday, April 22nd. Finally, Truist Financial set a $61.00 target price on Comerica and gave the stock a "hold" rating in a research report on Friday. 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's stock. Based on data from MarketBeat.com, Comerica has an average rating of "Hold" and an average price target of $61.95.

About Comerica

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.