Comerica Incorporated $CMA Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in Comerica Incorporated (NYSE:CMA) by 3.0% during the second quarter, HoldingsChannel reports. The firm owned 2,579,763 shares of the financial services provider’s stock after purchasing an additional 73,971 shares during the quarter. Geode Capital Management LLC’s holdings in Comerica were worth $153,905,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Lynx Investment Advisory grew its position in Comerica by 3.3% in the 2nd quarter. Lynx Investment Advisory now owns 5,135 shares of the financial services provider’s stock valued at $306,000 after buying an additional 163 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Comerica by 41.8% in the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock valued at $35,000 after acquiring an additional 176 shares in the last quarter. Parallel Advisors LLC boosted its holdings in shares of Comerica by 19.6% in the second quarter. Parallel Advisors LLC now owns 1,152 shares of the financial services provider’s stock valued at $69,000 after acquiring an additional 189 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Comerica by 0.5% during the second quarter. Louisiana State Employees Retirement System now owns 37,000 shares of the financial services provider’s stock worth $2,207,000 after acquiring an additional 200 shares during the period. Finally, Keeley Teton Advisors LLC raised its holdings in Comerica by 0.7% during the first quarter. Keeley Teton Advisors LLC now owns 32,079 shares of the financial services provider’s stock worth $1,895,000 after purchasing an additional 217 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Stock Up 0.5%

Comerica stock opened at $76.15 on Wednesday. Comerica Incorporated has a fifty-two week low of $48.12 and a fifty-two week high of $83.22. The firm has a market capitalization of $9.73 billion, a price-to-earnings ratio of 14.53 and a beta of 1.04. The stock’s fifty day moving average is $74.72 and its two-hundred day moving average is $66.81. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 0.96.

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

Comerica Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Monday, December 15th will be issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.7%. The ex-dividend date of this dividend is Monday, December 15th. Comerica’s dividend payout ratio is 54.20%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wells Fargo & Company lifted their price objective on Comerica from $65.00 to $97.00 and gave the company an “equal weight” rating in a report on Monday, October 20th. Cantor Fitzgerald assumed coverage on Comerica in a research note on Wednesday, September 10th. They issued a “neutral” rating and a $72.00 price target on the stock. Truist Financial upped their price objective on Comerica from $68.00 to $70.00 and gave the stock a “hold” rating in a report on Friday, September 12th. Morgan Stanley raised Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 target price for the company in a report on Tuesday, October 7th. Finally, TD Cowen assumed coverage on shares of Comerica in a research note on Thursday, September 25th. They set a “hold” rating and a $75.00 price target on the stock. Three investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price 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.