Hsbc Holdings PLC Increases Stock Position in Comerica Incorporated (NYSE:CMA)

Hsbc Holdings PLC increased its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 412.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 31,240 shares of the financial services provider's stock after acquiring an additional 25,149 shares during the period. Hsbc Holdings PLC's holdings in Comerica were worth $1,930,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Trust Co. of Vermont grew its holdings in shares of Comerica by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider's stock worth $26,000 after purchasing an additional 321 shares during the period. Luken Investment Analytics LLC acquired a new position in Comerica in the fourth quarter valued at about $31,000. MCF Advisors LLC boosted its stake in Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider's stock worth $39,000 after buying an additional 228 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Comerica during the third quarter valued at about $42,000. Finally, V Square Quantitative Management LLC raised its stake in shares of Comerica by 36.7% in the 4th 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 during the period. Institutional investors and hedge funds own 80.74% of the company's stock.

Analyst Upgrades and Downgrades

CMA has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lowered their price objective on shares of Comerica from $77.00 to $68.00 and set an "outperform" rating for the company in a research report on Tuesday, April 22nd. Morgan Stanley lowered Comerica from an "equal weight" rating to an "underweight" rating and lowered their price target for the stock from $63.00 to $55.00 in a research report on Monday, April 7th. Argus upgraded Comerica to a "hold" rating in a report on Friday, January 31st. Truist Financial lowered their target price on Comerica from $65.00 to $57.00 and set a "hold" rating for the company in a report on Tuesday, April 22nd. Finally, UBS Group raised Comerica from a "sell" rating to a "neutral" rating and set a $59.00 target price for the company in a research report on Thursday, April 10th. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $62.84.

Comerica Stock Down 1.2 %

NYSE CMA traded down $0.66 during trading on Monday, reaching $55.78. 1,401,919 shares of the company's stock were exchanged, compared to its average volume of 2,204,509. The company has a 50 day moving average price of $56.24 and a two-hundred day moving average price of $62.44. The stock has a market cap of $7.32 billion, a P/E ratio of 11.11 and a beta of 0.96. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97.

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

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be given a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.09%. The ex-dividend date is Friday, June 13th. Comerica's dividend payout ratio (DPR) is currently 53.69%.

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.