415,386 Shares in Comerica Incorporated (NYSE:CMA) Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp purchased a new stake in Comerica Incorporated (NYSE:CMA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 415,386 shares of the financial services provider's stock, valued at approximately $25,692,000. Mackenzie Financial Corp owned 0.32% of Comerica as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of CMA. Luken Investment Analytics LLC purchased a new position in Comerica in the fourth quarter valued at approximately $31,000. V Square Quantitative Management LLC grew its position in Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 221 shares in the last quarter. Quarry LP grew its position in Comerica by 152.0% in the fourth quarter. Quarry LP now owns 867 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 523 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in Comerica by 64.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,362 shares of the financial services provider's stock valued at $84,000 after acquiring an additional 533 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators grew its position in Comerica by 38.9% in the fourth quarter. Deseret Mutual Benefit Administrators now owns 1,453 shares of the financial services provider's stock valued at $90,000 after acquiring an additional 407 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company's stock.

Comerica Stock Performance

Shares of NYSE CMA traded up $0.55 during midday trading on Thursday, reaching $57.41. 1,098,611 shares of the company traded hands, compared to its average volume of 2,183,773. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45. The stock has a 50-day moving average price of $55.35 and a 200 day moving average price of $61.57. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market cap of $7.54 billion, a price-to-earnings ratio of 11.44 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 analysts' consensus estimates of $1.14 by $0.11. Comerica had a net margin of 13.98% and a return on equity of 12.04%. The business had revenue of $829.00 million for the quarter, compared to analysts' expectations of $839.31 million. During the same period in the previous year, the business earned $1.29 earnings per share. Sell-side analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, June 13th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.95%. The ex-dividend date of this dividend is Friday, June 13th. Comerica's dividend payout ratio is currently 53.69%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. UBS Group raised shares of 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. Robert W. Baird decreased their price objective on shares of Comerica from $80.00 to $75.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Wells Fargo & Company decreased their price objective on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. Jefferies Financial Group started coverage on shares of Comerica in a report on Wednesday, May 21st. They issued an "underperform" rating and a $47.00 price objective for the company. Finally, Truist Financial decreased their price objective on shares of Comerica from $65.00 to $57.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $62.37.

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.