Comerica Incorporated (NYSE:CMA) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its holdings in shares of Comerica Incorporated (NYSE:CMA) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,431,556 shares of the financial services provider’s stock after purchasing an additional 125,514 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Comerica were worth $274,092,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Trust Co. of Vermont raised its stake in shares of Comerica by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock worth $26,000 after buying an additional 321 shares during the period. Luken Investment Analytics LLC purchased a new stake in Comerica in the 4th quarter worth $31,000. MCF Advisors LLC raised its position in Comerica by 56.3% during the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 228 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Comerica during the third quarter valued at $42,000. Finally, V Square Quantitative Management LLC grew its position in shares of Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 221 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Barclays upped their price target on shares of Comerica from $66.00 to $68.00 and gave the stock an “underweight” rating in a research report on Monday, January 6th. Royal Bank of Canada reduced their target price on Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company raised Comerica from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $51.00 to $73.00 in a research note on Friday, November 15th. JPMorgan Chase & Co. reduced their price objective on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Finally, Morgan Stanley decreased their price objective on Comerica from $76.00 to $71.00 and set an “equal weight” rating on the stock in a report on Thursday, January 23rd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Comerica has an average rating of “Hold” and a consensus price target of $68.67.

Comerica Stock Down 0.2 %

CMA stock opened at $59.41 on Thursday. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45. The firm has a market cap of $7.80 billion, a PE ratio of 11.83 and a beta of 1.25. The firm’s 50 day moving average price is $64.48 and its 200-day moving average price is $63.31. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97.

Comerica (NYSE:CMA) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing analysts’ consensus estimates of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same period in the previous year, the company posted $1.46 earnings per share. On average, equities research analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $0.71 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 4.78%. Comerica’s payout ratio is currently 56.57%.

Comerica Company 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.