Raymond James Financial Services Advisors Inc. Has $570,000 Position in Comerica Incorporated (NYSE:CMA)


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Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Comerica Incorporated (NYSE:CMA) by 5.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,201 shares of the financial services provider’s stock after buying an additional 513 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Comerica were worth $570,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in shares of Comerica by 1,280.5% in the 4th quarter. Principal Financial Group Inc. now owns 4,222,423 shares of the financial services provider’s stock valued at $235,864,000 after purchasing an additional 3,916,561 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Comerica by 8.9% during the 4th quarter. Bank of New York Mellon Corp now owns 3,863,604 shares of the financial services provider’s stock worth $215,821,000 after buying an additional 314,595 shares in the last quarter. King Luther Capital Management Corp lifted its position in Comerica by 4.3% during the 4th quarter. King Luther Capital Management Corp now owns 2,607,366 shares of the financial services provider’s stock worth $145,647,000 after buying an additional 106,436 shares in the last quarter. First Trust Advisors LP lifted its position in Comerica by 5.9% during the 4th quarter. First Trust Advisors LP now owns 1,060,211 shares of the financial services provider’s stock worth $59,223,000 after buying an additional 58,880 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Comerica by 5.8% during the 4th quarter. The Manufacturers Life Insurance Company now owns 968,342 shares of the financial services provider’s stock worth $54,091,000 after buying an additional 53,146 shares in the last quarter. Hedge funds and other institutional investors own 78.17% of the company’s stock.

Several research analysts recently issued reports on the stock. DA Davidson upgraded shares of Comerica from a “neutral” rating to a “buy” rating in a research report on Tuesday, March 30th. Truist upped their price target on shares of Comerica from $67.00 to $72.00 in a research report on Monday, March 8th. Barclays upped their price target on shares of Comerica from $65.00 to $67.00 and gave the stock an “underweight” rating in a research report on Wednesday. Stephens boosted their price objective on Comerica from $74.00 to $82.00 and gave the stock an “overweight” rating in a report on Tuesday, March 30th. Finally, Zacks Investment Research cut Comerica from a “buy” rating to a “hold” rating and set a $76.00 price objective for the company. in a report on Tuesday, March 9th. Six analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $55.89.

Shares of CMA opened at $71.87 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.97 and a current ratio of 0.97. The stock has a 50 day simple moving average of $69.55 and a 200 day simple moving average of $56.27. Comerica Incorporated has a 52-week low of $25.80 and a 52-week high of $73.73. The firm has a market capitalization of $10.03 billion, a PE ratio of 19.80 and a beta of 1.67.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Monday, January 18th. The financial services provider reported $1.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.30. Comerica had a return on equity of 7.12% and a net margin of 16.17%. The business had revenue of $734.00 million during the quarter, compared to analyst estimates of $703.98 million. During the same period in the previous year, the firm earned $1.85 EPS. Equities research analysts predict that Comerica Incorporated will post 2.98 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Monday, March 15th were given a dividend of $0.68 per share. This represents a $2.72 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date was Friday, March 12th. Comerica’s dividend payout ratio (DPR) is currently 34.83%.

In other Comerica news, EVP Christine M. Moore sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 23rd. The stock was sold at an average price of $68.67, for a total transaction of $206,010.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Cassandra M. Mckinney sold 4,643 shares of the company’s stock in a transaction that occurred on Thursday, February 4th. The stock was sold at an average price of $62.23, for a total value of $288,933.89. The disclosure for this sale can be found here. Corporate insiders own 0.55% of the company’s stock.

About Comerica

Comerica Incorporated, through its subsidiaries, provides various financial products and services. It 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, 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.

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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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