Comerica Incorporated $CMA Shares Sold by Swiss National Bank

Swiss National Bank lowered its stake in shares of Comerica Incorporated (NYSE:CMA) by 1.6% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 250,700 shares of the financial services provider’s stock after selling 4,100 shares during the period. Swiss National Bank’s holdings in Comerica were worth $14,954,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of CMA. Gen Wealth Partners Inc acquired a new stake in Comerica during the first quarter worth about $34,000. Geneos Wealth Management Inc. boosted its position in Comerica by 41.8% in the 1st quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 176 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of Comerica during the 2nd quarter worth approximately $35,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Comerica during the 1st quarter worth approximately $55,000. Finally, MAI Capital Management increased its holdings in shares of Comerica by 32.1% during the 1st quarter. MAI Capital Management now owns 942 shares of the financial services provider’s stock valued at $56,000 after purchasing an additional 229 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Price Performance

Shares of NYSE CMA opened at $80.17 on Thursday. The firm has a 50-day simple moving average of $75.78 and a 200-day simple moving average of $67.68. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $10.24 billion, a price-to-earnings ratio of 15.30 and a beta of 1.04. Comerica Incorporated has a 52 week low of $48.12 and a 52 week high of $83.22.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Monday, December 9th. The financial services provider reported $1.53 earnings per share for the quarter. Comerica had a net margin of 14.91% and a return on equity of 10.69%. The firm had revenue of $824.00 million for the quarter. On average, equities analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Stockholders of record on Monday, December 15th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 3.5%. The ex-dividend date is Monday, December 15th. Comerica’s payout ratio is currently 54.20%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wells Fargo & Company raised their price target on shares of Comerica from $65.00 to $97.00 and gave the company an “equal weight” rating in a research report on Monday, October 20th. Piper Sandler set a $82.00 target price on Comerica and gave the company a “neutral” rating in a research report on Tuesday, October 7th. Weiss Ratings lowered Comerica from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. TD Cowen assumed coverage on Comerica in a research report on Thursday, September 25th. They set a “hold” rating and a $75.00 price target on the stock. Finally, Cowen started coverage on Comerica in a report on Wednesday, September 24th. They issued a “hold” rating on the stock. Three investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $74.55.

Comerica 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.