Intact Investment Management Inc. Makes New Investment in Comerica Incorporated (NYSE:CMA)

Intact Investment Management Inc. bought a new position in shares of Comerica Incorporated (NYSE:CMA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 12,100 shares of the financial services provider's stock, valued at approximately $715,000.

Other large investors have also made changes to their positions in the company. Bessemer Group Inc. grew its holdings in Comerica by 2.0% during the 4th quarter. Bessemer Group Inc. now owns 10,859 shares of the financial services provider's stock worth $672,000 after acquiring an additional 211 shares during the period. US Bancorp DE boosted its position in shares of Comerica by 2.0% in the 4th 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 during the last quarter. Townsquare Capital LLC grew its stake in shares of Comerica by 4.6% during the fourth quarter. Townsquare Capital LLC now owns 5,811 shares of the financial services provider's stock worth $359,000 after purchasing an additional 256 shares during the period. UMB Bank n.a. increased its holdings in Comerica by 19.4% in the first quarter. UMB Bank n.a. now owns 1,777 shares of the financial services provider's stock valued at $105,000 after purchasing an additional 289 shares during the last quarter. Finally, Fiduciary Alliance LLC lifted its stake in Comerica by 3.1% in the first quarter. Fiduciary Alliance LLC now owns 9,784 shares of the financial services provider's stock valued at $578,000 after buying an additional 298 shares during the period. Institutional investors and hedge funds own 80.74% of the company's stock.

Comerica Price Performance

CMA traded up $1.27 during trading on Thursday, reaching $59.14. The stock had a trading volume of 1,219,568 shares, compared to its average volume of 2,018,714. The stock has a market cap of $7.77 billion, a PE ratio of 11.18 and a beta of 0.92. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.96 and a current ratio of 0.96. Comerica Incorporated has a one year low of $47.38 and a one year high of $73.45. The business has a 50-day moving average of $56.27 and a 200-day moving average of $59.68.

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

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.80%. The ex-dividend date is Friday, June 13th. Comerica's payout ratio is 53.69%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada decreased their target price on Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Truist Financial set a $61.00 price objective on shares of Comerica and gave the stock a "hold" rating in a research note on Friday, June 13th. Evercore ISI cut shares of Comerica from an "in-line" rating to an "underperform" rating and decreased their price objective for the company from $65.00 to $50.00 in a report on Tuesday, April 22nd. Raymond James Financial cut their target price on shares of Comerica from $72.00 to $67.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Finally, The Goldman Sachs Group reduced their price target on shares of Comerica from $66.00 to $57.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Six equities 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 stock. Based on data from MarketBeat.com, Comerica currently has an average rating of "Hold" and a consensus price target of $61.95.

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.