Charles Schwab Investment Management Inc. Purchases 48,526 Shares of Comerica Incorporated (NYSE:CMA)

Charles Schwab Investment Management Inc. lifted its holdings in Comerica Incorporated (NYSE:CMA - Free Report) by 1.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,343,131 shares of the financial services provider's stock after purchasing an additional 48,526 shares during the quarter. Charles Schwab Investment Management Inc. owned 2.54% of Comerica worth $186,580,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of the stock. Private Advisor Group LLC raised its stake in shares of Comerica by 49.3% in the 4th quarter. Private Advisor Group LLC now owns 13,650 shares of the financial services provider's stock worth $762,000 after buying an additional 4,510 shares in the last quarter. MeadowBrook Investment Advisors LLC bought a new stake in Comerica in the fourth quarter worth about $267,000. Spire Wealth Management lifted its holdings in Comerica by 95.9% in the 4th quarter. Spire Wealth Management now owns 480 shares of the financial services provider's stock valued at $25,000 after acquiring an additional 235 shares during the last quarter. National Bank of Canada FI boosted its position in shares of Comerica by 9.2% during the 4th quarter. National Bank of Canada FI now owns 31,097 shares of the financial services provider's stock valued at $1,757,000 after purchasing an additional 2,627 shares in the last quarter. Finally, TCG Advisory Services LLC bought a new stake in shares of Comerica in the 4th quarter worth approximately $355,000. Institutional investors and hedge funds own 80.74% of the company's stock.

Insiders Place Their Bets

In related news, EVP Cassandra M. Mckinney sold 7,271 shares of Comerica stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the completion of the transaction, the executive vice president now directly owns 7,236 shares of the company's stock, valued at approximately $380,541.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Wendy Bridges sold 3,034 shares of the firm's stock in a transaction on 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 owns 17,460 shares of the company's stock, valued at approximately $920,840.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Cassandra M. Mckinney sold 7,271 shares of the stock in a transaction that occurred 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 of the company's stock, valued at $380,541.24. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company's stock.

Comerica Stock Performance

CMA traded up $0.23 during trading on Friday, reaching $53.58. 835,254 shares of the company's stock were exchanged, compared to its average volume of 2,031,258. Comerica Incorporated has a fifty-two week low of $30.98 and a fifty-two week high of $57.39. The company has a market capitalization of $7.10 billion, a P/E ratio of 10.61 and a beta of 1.27. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 1.26. The business has a 50 day moving average price of $52.06 and a 200 day moving average price of $50.36.

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 for the quarter, beating analysts' consensus estimates of $1.13 by $0.16. The business had revenue of $1.26 billion for the quarter, compared to analysts' expectations of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same quarter in the previous year, the firm posted $2.39 earnings per share. As a group, analysts predict that Comerica Incorporated will post 5.16 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 5.30%. The ex-dividend date of this dividend is Friday, June 14th. Comerica's dividend payout ratio is 56.46%.

Wall Street Analyst Weigh In

Several research firms have issued reports on CMA. Piper Sandler lifted their price target on shares of Comerica from $54.00 to $56.00 and gave the stock a "neutral" rating in a research report on Friday, April 26th. Keefe, Bruyette & Woods cut their price objective on Comerica from $60.00 to $58.00 and set a "market perform" rating on the stock in a report on Monday, January 22nd. Truist Financial decreased their target price on shares of Comerica from $62.00 to $60.00 and set a "buy" rating for the company in a report on Monday, April 22nd. Citigroup lowered shares of Comerica from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $60.00 to $56.00 in a research note on Monday. Finally, Stephens restated an "overweight" rating and set a $64.00 price target on shares of Comerica in a report on Friday, April 19th. Three investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $56.89.

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.