LaFleur & Godfrey LLC Purchases 6,410 Shares of Comerica Incorporated (NYSE:CMA)

LaFleur & Godfrey LLC raised its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 10.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,802 shares of the financial services provider's stock after acquiring an additional 6,410 shares during the period. LaFleur & Godfrey LLC owned approximately 0.05% of Comerica worth $4,004,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Independent Advisor Alliance bought a new position in Comerica in the 4th quarter worth about $206,000. Bank of Nova Scotia purchased a new position in Comerica in the fourth quarter worth about $1,320,000. Jupiter Asset Management Ltd. bought a new position in shares of Comerica in the fourth quarter worth approximately $82,419,000. Franklin Resources Inc. lifted its stake in shares of Comerica by 251.1% in the fourth quarter. Franklin Resources Inc. now owns 51,573 shares of the financial services provider's stock worth $3,190,000 after buying an additional 36,883 shares in the last quarter. Finally, Jones Financial Companies Lllp grew its holdings in shares of Comerica by 220.9% during the fourth quarter. Jones Financial Companies Lllp now owns 10,762 shares of the financial services provider's stock valued at $666,000 after buying an additional 7,408 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors.

Comerica Trading Up 1.5%

CMA traded up $0.84 during trading on Tuesday, reaching $58.20. The company had a trading volume of 1,444,278 shares, compared to its average volume of 2,022,769. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.86. The business has a 50 day simple moving average of $55.93 and a 200-day simple moving average of $59.76. The stock has a market cap of $7.65 billion, a P/E ratio of 11.00 and a beta of 0.92. Comerica Incorporated has a 52 week low of $47.33 and a 52 week high of $73.45.

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, topping the consensus estimate 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 net margin of 14.89% and a return on equity of 11.59%. During the same quarter last year, the business earned $1.29 EPS. On average, equities 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. Stockholders of record on Friday, June 13th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.88%. Comerica's dividend payout ratio is 53.69%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Truist Financial set a $61.00 price target on Comerica and gave the stock a "hold" rating in a research note on Friday, June 13th. Evercore ISI lowered shares of Comerica from an "in-line" rating to an "underperform" rating and cut their target price for the company from $65.00 to $50.00 in a research report on Tuesday, April 22nd. Royal Bank Of Canada reduced their price target on Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Piper Sandler lifted their price objective on Comerica from $57.00 to $60.00 and gave the company a "neutral" rating in a research report on Wednesday, June 11th. Finally, Keefe, Bruyette & Woods dropped their target price 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. Six 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. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price 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.