Hartford Investment Management Co. lessened its position in Comerica Incorporated (NYSE: CMA – Get Rating ) by 7.0% during the first quarter, HoldingsChannel reports. The fund owned 12,646 shares of the financial services provider’s stock after selling 947 shares during the quarter. Hartford Investment Management Co.’s holdings. in Comerica were worth $1,144,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CMA. Concord Wealth Partners boosted its stake in Comerica by 191.8% in the 4th quarter. Concord Wealth Partners now owns 286 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 188 shares during the last quarter. Hexagon Capital Partners LLC purchased a new stake in shares of Comerica in the 4th quarter valued at approximately $35,000. Rather & Kittrell Inc. purchased a new stake in shares of Comerica during the 4th quarter valued at approximately $42,000. Arlington Partners LLC purchased a new stake in shares of Comerica during the 4th quarter valued at approximately $48,000. Finally, Global Retirement Partners LLC raised its stake in in shares of Comerica by 79.8% in the 4th quarter. Global Retirement Partners LLC now owns 577 shares of the financial services provider’s stock valued at $50,000 after purchasing an additional 256 shares during the last quarter. Hedge funds and other institutional investors own 80.14% of the company’s shares.
CMA has been the subject of a number of analyst reports. Piper Sandler upgraded Comerica from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $90.00 to $94.00 in a research note on Monday, May 2nd. TheStreet cut Comerica from a “b” rating to a “c+” rating in a research note on Friday, May 13th. Raymond James downgraded Comerica from an “outperform” rating to a “market perform” rating in a research note on Thursday, April 21st. Citigroup started coverage on Comerica in a research note on Thursday, March 24th. They issued a “buy” rating on the stock. Finally, The Goldman Sachs Group cut their target price on Comerica from $104.00 to $93.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 31st. Three analysts have rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $98.40, according to MarketBeat.
Shares of CMA stock opened at $74.28 on Tuesday. The firm has a 50-day moving average of $78.30 and a 200-day moving average of $87.34. Comerica Incorporated has a 12-month low of $63.07 and a 12-month high of $102.09. The company has a current ratio of 0.88, a quick ratio of 0.88, and a debt-to-equity ratio of 0.40. The stock has a market cap of $9.71 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 1.57 and a beta of 1.33.
Comerica (NYSE: CMA – Get Rating ) last posted its quarterly earnings data on Wednesday, April 20th. The financial services provider reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.38 by ($0.01). The company had revenue of $700.00 million for the quarter, compared to analyst estimates of $725.36 million. Comerica had a return on equity of 13.85% and a net margin of 33.48%. In the same quarter last year, the company earned $2.43 earnings per share. As a group, equities analysts forecast that Comerica Incorporated will post 7.62 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 1st. Investors of record on Wednesday, June 15th were given a dividend of $0.68 per share. This represents an annualized dividend of $2.72 and a yield of 3.66%. The ex-dividend date was Tuesday, June 14th. Comerica’s dividend payout ratio is 37.52%.
About Comerica (Get Rating)
Comerica Incorporated, through its subsidiaries, provides a variety of financial products and services. It operates through commercial banking, retail banking, wealth management and finance segments. The Commercial Bank segment offers a variety of products and services, including commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, currency management services and SME loan syndication services businesses, multinational corporations and government entities.
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