Comerica Incorporated (NYSE:CMA) Shares Purchased by New England Research & Management Inc.

New England Research & Management Inc. grew its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 55.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,682 shares of the financial services provider's stock after acquiring an additional 7,007 shares during the period. New England Research & Management Inc.'s holdings in Comerica were worth $1,162,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in CMA. PL Capital Advisors LLC increased its holdings in shares of Comerica by 6,085.0% in the fourth quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider's stock worth $109,981,000 after purchasing an additional 1,749,438 shares during the period. Jupiter Asset Management Ltd. purchased a new stake in shares of Comerica in the 4th quarter valued at about $82,419,000. Norges Bank bought a new stake in shares of Comerica during the 4th quarter valued at about $64,150,000. North Reef Capital Management LP grew its holdings in shares of Comerica by 15.7% during the fourth quarter. North Reef Capital Management LP now owns 4,050,000 shares of the financial services provider's stock worth $250,492,000 after purchasing an additional 550,000 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its position in shares of Comerica by 548.9% in the fourth quarter. Canada Pension Plan Investment Board now owns 642,400 shares of the financial services provider's stock worth $39,732,000 after purchasing an additional 543,400 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Comerica Price Performance

NYSE CMA traded down $2.61 during mid-day trading on Friday, hitting $54.90. The stock had a trading volume of 1,683,925 shares, compared to its average volume of 2,156,212. The company has a market cap of $7.21 billion, a price-to-earnings ratio of 10.94 and a beta of 0.92. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica Incorporated has a 52-week low of $45.86 and a 52-week high of $73.45. The company has a 50 day simple moving average of $55.51 and a 200 day simple moving average of $60.55.

Comerica (NYSE:CMA - Get Free Report) last announced its quarterly earnings data on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, beating analysts' consensus estimates of $1.14 by $0.11. The business had revenue of $829.00 million during the quarter, compared to the consensus estimate of $839.31 million. Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter in the previous year, the business earned $1.29 earnings per share. Equities analysts forecast 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $2.84 dividend on an annualized basis and a yield of 5.17%. Comerica's payout ratio is currently 53.69%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Truist Financial lifted their price objective on Comerica from $60.00 to $61.00 and gave the stock a "hold" rating in a report on Friday. The Goldman Sachs Group lowered their price objective on shares of Comerica from $66.00 to $57.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. 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 report on Tuesday, April 22nd. Evercore ISI lowered shares of 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 note on Tuesday, April 22nd. Finally, Jefferies Financial Group assumed coverage on Comerica in a research note on Wednesday, May 21st. They set an "underperform" rating and a $47.00 target price on the stock. Six investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, Comerica has a consensus rating of "Hold" and an average target price of $61.95.

Comerica Company 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.