Price T Rowe Associates Inc. MD Acquires 6,746 Shares of Comerica Incorporated (NYSE:CMA)

Price T Rowe Associates Inc. MD raised its stake in shares of Comerica Incorporated (NYSE:CMA - Free Report) by 8.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 86,047 shares of the financial services provider's stock after acquiring an additional 6,746 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.07% of Comerica worth $5,323,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. PL Capital Advisors LLC grew its stake in shares of Comerica by 6,085.0% during 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 purchasing an additional 1,749,438 shares during the period. Jupiter Asset Management Ltd. acquired a new position in shares of Comerica during the 4th quarter worth about $82,419,000. Norges Bank bought a new stake in shares of Comerica in the 4th quarter valued at about $64,150,000. Canada Pension Plan Investment Board raised its position in shares of Comerica by 548.9% in the 4th quarter. Canada Pension Plan Investment Board now owns 642,400 shares of the financial services provider's stock valued at $39,732,000 after acquiring an additional 543,400 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its stake in Comerica by 29.7% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,149,591 shares of the financial services provider's stock worth $132,952,000 after acquiring an additional 492,381 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CMA. Wells Fargo & Company decreased their price target on shares of Comerica from $67.00 to $55.00 and set an "equal weight" rating for the company in a report on Tuesday, April 22nd. 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 report on Tuesday, April 22nd. The Goldman Sachs Group reduced their price target on Comerica from $66.00 to $57.00 and set a "neutral" rating for the company in a research report on Tuesday, April 22nd. UBS Group upgraded Comerica from a "sell" rating to a "neutral" rating and set a $59.00 price objective on the stock in a research note on Thursday, April 10th. Finally, Royal Bank of Canada cut their price objective on Comerica from $75.00 to $65.00 and set an "outperform" rating for the company in a report on Tuesday, April 22nd. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $63.22.

Comerica Trading Up 2.4 %

Shares of Comerica stock traded up $1.32 during trading on Thursday, hitting $56.01. The company's stock had a trading volume of 1,212,156 shares, compared to its average volume of 2,200,480. The stock has a market cap of $7.36 billion, a price-to-earnings ratio of 11.16 and a beta of 0.92. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.97 and a quick ratio of 0.97. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45. The stock has a 50-day moving average price of $55.72 and a two-hundred day moving average price of $62.27.

Comerica (NYSE:CMA - Get Free Report) last issued its quarterly earnings results on Monday, April 21st. The financial services provider reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.14 by $0.11. The company had revenue of $829.00 million during the quarter, compared to analysts' expectations of $839.31 million. Comerica had a return on equity of 12.04% and a net margin of 13.98%. During the same quarter in the prior year, the firm posted $1.29 earnings per share. Equities research analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, June 13th will be given a $0.71 dividend. 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 5.07%. Comerica's dividend payout ratio (DPR) is currently 53.69%.

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.