Mutual of America Capital Management LLC reduced its position in Comerica Incorporated (NYSE: CMA – Receive Rating) by 0.7% during the second quarter, HoldingsChannel.com reports. The fund held 31,730 shares of the financial services provider’s stock after selling 213 shares during the period. As per the most recent filing with the Securities and Exchange Commission (SEC), Mutual of America Capital Management LLC’s holdings in Comerica were $2,328,000.
Several other institutional investors have also bought and sold shares of CMA recently. Daiwa Securities Group Inc. raised its stake in Comerica to 19.3% in the first quarter. After acquiring an additional 235 shares during this period, Daiwa Securities Group Inc. now owns 1,454 shares of the financial services provider’s stock valued at $131,000. SG Americas Securities LLC increased its stake in Comerica shares by 391.8% during the first quarter. SG Americas Securities LLC now owns 10,435 shares of the financial services provider worth $944,000 after buying an additional 8,313 shares during the period. Envestnet Asset Management Inc. raised its stake in Comerica shares to 3.8% during the first quarter. After buying an additional 5,799 shares during the period, Envestnet Asset Management Inc. holds 159,746 shares of the financial services provider valued at $14,446,000. Victory Capital Management Inc. raised its stake in Comerica shares by 13.2% during the first quarter. Victory Capital Management Inc. after buying an additional 202,788 shares during the period. holds 1,739,716 shares of the financial services provider valued at $152,403,000. Finally, Clearstead Advisors LLC increased its holding in Comerica shares by 16.6% during the first quarter. Clearstead Advisors LLC now owns 6,644 shares of the financial services provider valued at $601,000 after buying an additional 947 shares during the period. Institutional investors hold 82.56% of the company’s stock.
Wall Street analysts weigh in
Several research firms have recently issued reports on CMA. StockNews.com began coverage on shares of Comerica in a report on Wednesday, October 12. They set a “Hold” rating on the stock. Piper Sandler cut its price objective on shares of Comerica to $85.00 in a report on Thursday, October 20. Argus upgraded shares of Comerica from a “hold” rating to a “buy” rating and set $87.00 price objective on the stock in a report on Thursday, October 20. Citigroup cut its price objective on shares of Comerica from $95.00 to $90.00 and set a “Buy” rating on the stock in a report on Thursday, October 6. Finally, Stephens cut his price objective on shares of Comerica to $93.00 from $100.00 and set an “overweight” rating on the stock in a report on Thursday, October 20. One equity research analyst has rated the stock with a Sell rating, six have a Hold rating and fourteen have a Buy rating on the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.38.
Comerica Price Display
NYSE:CMA opened on Wednesday at $72.13. The firm has a market cap of $9.45 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 1.32 and a beta of 1.20. Comerica Incorporated had a 12-month low of $64.11 and a 12-month high of $102.09. The company has a quick ratio of 0.85, current ratio of 0.85 and debt-to-equity ratio of 0.65. The company’s 50-day moving average price is $72.17 and its two-hundred-day moving average price is $76.33.
Comerica (NYSE: CMA – GET Rating) last issued its quarterly earnings results on Wednesday, October 19. The financial services provider reported EPS of $2.60 for the quarter, beating analysts’ consensus estimates of $2.57 by $0.03. Comerica had a net margin of 30.73% and a return on equity of 16.56%. During the same period last year, the firm earned $1.90 EPS. On average, equity analysts expect Comerica Incorporated to post 8.53 EPS for the current fiscal.
Comerica Dividend Declaration
The business also recently announced a quarterly dividend, which will be paid on Sunday, January 1st. Shareholders of record will be paid a $0.68 dividend on Thursday, December 15. This represents a $2.72 dividend and a dividend yield of 3.77% on an annualized basis. The ex-dividend date is Wednesday, December 14. Comerica’s dividend payout ratio currently stands at 36.03%.
Comerica, Inc. is engaged in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance and Others. The Commercial Bank segment serves the needs of small and medium market businesses, multinational corporations and government entities by offering a variety of products and services, including commercial credit and lending, deposits, cash management, capital market products, international trade finance, letters of credit Are included. , foreign exchange management services and loan syndication services.
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