26,900 Shares in Comerica Incorporated (NYSE:CMA) Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS bought a new stake in Comerica Incorporated (NYSE:CMA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 26,900 shares of the financial services provider’s stock, valued at approximately $1,679,000.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in shares of Comerica by 134.0% in the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock worth $51,309,000 after purchasing an additional 490,468 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in Comerica during the 4th quarter worth about $82,419,000. Jones Financial Companies Lllp boosted its stake in shares of Comerica by 220.9% during the 4th quarter. Jones Financial Companies Lllp now owns 10,762 shares of the financial services provider’s stock worth $666,000 after buying an additional 7,408 shares during the last quarter. Independent Advisor Alliance bought a new position in shares of Comerica in the 4th quarter valued at about $206,000. Finally, New England Research & Management Inc. acquired a new stake in shares of Comerica in the fourth quarter valued at about $784,000. Institutional investors and hedge funds own 80.74% of the company’s stock.

Comerica Trading Down 1.5 %

CMA opened at $58.73 on Friday. The stock has a market capitalization of $7.71 billion, a price-to-earnings ratio of 11.70 and a beta of 1.23. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. Comerica Incorporated has a twelve month low of $45.32 and a twelve month high of $73.45. The company has a 50-day simple moving average of $63.07 and a 200 day simple moving average of $63.54.

Comerica (NYSE:CMA) last issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). 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 company posted $1.46 EPS. Analysts predict that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date of this dividend is Friday, March 14th. Comerica’s dividend payout ratio is presently 56.57%.

Analyst Ratings Changes

Several research analysts recently commented on CMA shares. Wells Fargo & Company reduced their price target on Comerica from $70.00 to $67.00 and set an “equal weight” rating for the company in a research report on Friday. Truist Financial raised shares of Comerica to a “hold” rating in a research note on Monday, January 6th. Barclays boosted their price objective on shares of Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research note on Monday, January 6th. DA Davidson dropped their price target on Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Finally, Royal Bank of Canada reduced their price objective on shares of Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a research report on Thursday, January 23rd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Comerica presently has an average rating of “Hold” and a consensus target price of $68.00.

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.