New York State Common Retirement Fund Has $6.77 Million Holdings in Comerica Incorporated (NYSE:CMA)

New York State Common Retirement Fund trimmed its position in Comerica Incorporated (NYSE:CMA - Free Report) by 12.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,379 shares of the financial services provider's stock after selling 17,573 shares during the period. New York State Common Retirement Fund owned about 0.09% of Comerica worth $6,774,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. 1900 Wealth Management LLC acquired a new position in shares of Comerica during the 4th quarter valued at about $234,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of Comerica by 6.3% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 22,982 shares of the financial services provider's stock valued at $1,283,000 after acquiring an additional 1,357 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Comerica by 13.6% during the 4th quarter. Daiwa Securities Group Inc. now owns 3,534 shares of the financial services provider's stock valued at $197,000 after acquiring an additional 423 shares during the last quarter. Oakworth Capital Inc. increased its position in Comerica by 49,978.7% during the 4th quarter. Oakworth Capital Inc. now owns 230,863 shares of the financial services provider's stock worth $12,884,000 after purchasing an additional 230,402 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in Comerica by 8.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,923 shares of the financial services provider's stock worth $1,614,000 after purchasing an additional 2,295 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on CMA. Royal Bank of Canada increased their target price on shares of Comerica from $61.00 to $62.00 and gave the stock an "outperform" rating in a research report on Friday, April 19th. Deutsche Bank Aktiengesellschaft began coverage on shares of Comerica in a research report on Wednesday, April 10th. They set a "hold" rating and a $59.00 target price for the company. Piper Sandler increased their price objective on shares of Comerica from $54.00 to $56.00 and gave the company a "neutral" rating in a research report on Friday, April 26th. Raymond James downgraded shares of Comerica from an "outperform" rating to a "market perform" rating in a research report on Monday, January 22nd. Finally, Truist Financial lowered their price objective on shares of Comerica from $62.00 to $60.00 and set a "buy" rating for the company in a research report on Monday, April 22nd. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Comerica has an average rating of "Hold" and a consensus target price of $56.98.

Comerica Stock Performance

CMA traded up $1.20 during trading hours on Friday, hitting $53.07. 1,914,592 shares of the stock were exchanged, compared to its average volume of 1,788,897. The stock has a 50-day simple moving average of $51.69 and a 200-day simple moving average of $50.01. Comerica Incorporated has a 12 month low of $28.40 and a 12 month high of $57.39. The stock has a market cap of $7.04 billion, a price-to-earnings ratio of 10.55 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.94.

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 $1.13 by $0.16. The company had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $807.57 million. Comerica had a return on equity of 16.51% and a net margin of 13.11%. During the same period last year, the business posted $2.39 earnings per share. Analysts anticipate that Comerica Incorporated will post 5.16 earnings per share for the current year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.35%. The ex-dividend date of this dividend is Friday, June 14th. Comerica's payout ratio is 56.46%.

Insider Buying and Selling at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of the firm's stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total value of $382,381.89. Following the sale, the executive vice president now directly owns 7,236 shares in the company, valued at $380,541.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Cassandra M. Mckinney sold 7,271 shares of the firm's stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $52.59, for a total transaction of $382,381.89. Following the transaction, the executive vice president now directly owns 7,236 shares of the company's stock, valued at $380,541.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Wendy Bridges sold 3,034 shares of the firm's stock in a transaction on Monday, February 12th. The shares were sold at an average price of $52.74, for a total value of $160,013.16. Following the transaction, 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 currently owned by company insiders.

About Comerica

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.