New England Research & Management Inc. Purchases 7,007 Shares of Comerica Incorporated (NYSE:CMA)

New England Research & Management Inc. increased its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 55.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,682 shares of the financial services provider's stock after purchasing an additional 7,007 shares during the quarter. New England Research & Management Inc.'s holdings in Comerica were worth $1,162,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC boosted its holdings in shares of Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider's stock valued at $51,000 after buying an additional 221 shares in the last quarter. Quarry LP grew its position in Comerica by 152.0% during the fourth quarter. Quarry LP now owns 867 shares of the financial services provider's stock valued at $54,000 after buying an additional 523 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in Comerica by 64.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,362 shares of the financial services provider's stock worth $84,000 after purchasing an additional 533 shares during the period. Deseret Mutual Benefit Administrators lifted its position in shares of Comerica by 38.9% during the 4th quarter. Deseret Mutual Benefit Administrators now owns 1,453 shares of the financial services provider's stock valued at $90,000 after buying an additional 407 shares in the last quarter. Finally, UMB Bank n.a. raised its position in shares of Comerica by 19.4% during the 1st 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 period. 80.74% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CMA has been the topic of a number of recent research reports. Keefe, Bruyette & Woods decreased their price objective on Comerica from $77.00 to $68.00 and set an "outperform" rating on the stock 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. Morgan Stanley downgraded shares of Comerica from an "equal weight" rating to an "underweight" rating and cut their price objective for the stock from $63.00 to $55.00 in a research report on Monday, April 7th. JPMorgan Chase & Co. downgraded Comerica from a "neutral" rating to an "underweight" rating and lowered their price target for the stock from $64.00 to $52.00 in a report on Tuesday, April 22nd. Finally, Raymond James Financial reduced their target price on Comerica from $72.00 to $67.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $61.95.

Comerica Stock Down 0.8%

CMA stock traded down $0.46 during trading on Tuesday, reaching $55.01. The stock had a trading volume of 1,050,271 shares, compared to its average volume of 2,153,210. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.86. Comerica Incorporated has a 1-year low of $46.61 and a 1-year high of $73.45. The firm has a fifty day moving average price of $55.61 and a 200 day moving average price of $60.23. The company has a market capitalization of $7.23 billion, a P/E ratio of 10.40 and a beta of 0.92.

Comerica (NYSE:CMA - Get Free Report) last posted its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $839.31 million. During the same period in the previous year, the business posted $1.29 EPS. On average, equities analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The firm also recently announced 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 annualized dividend and a yield of 5.16%. The ex-dividend date of this dividend is Friday, June 13th. Comerica's dividend payout ratio is presently 53.69%.

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.