Mirae Asset Global Investments Co. Ltd. Grows Stock Holdings in Comerica Incorporated (NYSE:CMA)

Mirae Asset Global Investments Co. Ltd. increased its stake in Comerica Incorporated (NYSE:CMA - Free Report) by 73.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,771 shares of the financial services provider's stock after buying an additional 23,947 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Comerica were worth $3,168,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMA. Vanguard Group Inc. lifted its holdings in shares of Comerica by 2.4% in the 1st quarter. Vanguard Group Inc. now owns 15,871,102 shares of the financial services provider's stock worth $1,435,224,000 after buying an additional 366,188 shares during the period. BlackRock Inc. grew its holdings in Comerica by 9.4% during the 1st quarter. BlackRock Inc. now owns 13,313,998 shares of the financial services provider's stock worth $578,094,000 after acquiring an additional 1,145,951 shares in the last quarter. State Street Corp increased its position in Comerica by 3.9% during the 3rd quarter. State Street Corp now owns 7,675,947 shares of the financial services provider's stock valued at $550,764,000 after purchasing an additional 284,884 shares during the period. First Trust Advisors LP raised its holdings in shares of Comerica by 1,192.2% in the 1st quarter. First Trust Advisors LP now owns 3,878,506 shares of the financial services provider's stock valued at $168,405,000 after purchasing an additional 3,578,355 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Comerica by 3.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,294,605 shares of the financial services provider's stock worth $136,891,000 after purchasing an additional 115,446 shares during the period. Institutional investors own 80.74% of the company's stock.

Comerica Stock Performance

NYSE CMA traded up $0.84 on Thursday, hitting $50.66. 3,299,033 shares of the company's stock traded hands, compared to its average volume of 2,119,147. The firm's 50-day moving average price is $51.39 and its two-hundred day moving average price is $49.14. The firm has a market capitalization of $6.71 billion, a PE ratio of 7.74 and a beta of 1.27. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 1.03. Comerica Incorporated has a 1-year low of $28.40 and a 1-year high of $57.39.

Comerica (NYSE:CMA - Get Free Report) last posted its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.17. Comerica had a net margin of 16.71% and a return on equity of 19.41%. During the same quarter in the prior year, the firm earned $2.39 earnings per share. As a group, analysts expect that Comerica Incorporated will post 5.09 EPS for the current year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 15th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 5.61%. The ex-dividend date was Thursday, March 14th. Comerica's dividend payout ratio (DPR) is 44.10%.

Analysts Set New Price Targets

A number of brokerages recently commented on CMA. Bank Of America (Bofa) boosted their price objective on shares of Comerica from $52.00 to $55.00 and gave the stock a "neutral" rating in a research note on Thursday, January 18th. Keefe, Bruyette & Woods cut their target price on Comerica from $60.00 to $58.00 and set a "market perform" rating on the stock in a research note on Monday, January 22nd. TheStreet raised shares of Comerica from a "c+" rating to a "b-" rating in a research report on Tuesday, December 26th. Truist Financial lifted their price objective on shares of Comerica from $60.00 to $62.00 and gave the stock a "buy" rating in a research report on Monday, April 1st. Finally, Barclays increased their target price on shares of Comerica from $49.00 to $59.00 and gave the company an "underweight" rating in a research report on Tuesday, January 2nd. Three investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $57.67.

Insider Activity at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 1,616 shares of the company's stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $54.64, for a total value of $88,298.24. Following the sale, the executive vice president now owns 8,314 shares in the company, valued at approximately $454,276.96. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Comerica news, EVP Cassandra M. Mckinney sold 1,616 shares of Comerica stock in a transaction on Monday, January 29th. The shares were sold at an average price of $54.64, for a total value of $88,298.24. Following the completion of the transaction, the executive vice president now owns 8,314 shares of the company's stock, valued at $454,276.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the sale, the executive vice president now directly owns 17,460 shares in the company, valued at $920,840.40. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

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.