Northern Trust Corp Has $117.53 Million Holdings in Comerica Incorporated (NYSE:CMA)

Northern Trust Corp lifted its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 26.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,900,261 shares of the financial services provider's stock after purchasing an additional 402,992 shares during the quarter. Northern Trust Corp owned 1.44% of Comerica worth $117,531,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. PL Capital Advisors LLC increased its position 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 acquiring an additional 1,749,438 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of Comerica in the fourth quarter valued at $82,419,000. Norges Bank acquired a new stake in shares of Comerica in the fourth quarter worth $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 valued at $250,492,000 after buying an additional 550,000 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its position in Comerica by 548.9% during the fourth quarter. Canada Pension Plan Investment Board now owns 642,400 shares of the financial services provider's stock valued at $39,732,000 after buying an additional 543,400 shares during the period. Hedge funds and other institutional investors own 80.74% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Truist Financial lowered their target price on Comerica from $65.00 to $57.00 and set a "hold" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley downgraded Comerica from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $63.00 to $55.00 in a research note on Monday, April 7th. The Goldman Sachs Group lowered their price target on Comerica from $66.00 to $57.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Robert W. Baird dropped their price objective on Comerica from $80.00 to $75.00 and set an "outperform" rating on the stock in a report on Tuesday, April 22nd. Finally, DA Davidson reduced their target price on shares of Comerica from $71.00 to $67.00 and set a "neutral" rating for the company in a research note on Thursday, January 23rd. Five 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 currently has an average rating of "Hold" and a consensus price target of $63.22.

Comerica Price Performance

Shares of NYSE:CMA traded down $0.19 during midday trading on Friday, reaching $55.85. 202,514 shares of the company's stock were exchanged, compared to its average volume of 2,196,386. The firm has a market capitalization of $7.34 billion, a PE ratio of 11.13 and a beta of 0.92. The company's 50 day simple moving average is $55.59 and its two-hundred day simple moving average is $62.23. Comerica Incorporated has a 12 month low of $45.32 and a 12 month 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 released 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. The company had revenue of $829.00 million for 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 period in the previous year, the business earned $1.29 earnings per share. Equities research analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, June 13th will be issued 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 5.09%. Comerica's payout ratio is presently 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.