CHURCHILL MANAGEMENT Corp purchased a new stake in Comerica Incorporated (NYSE:CMA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 144,865 shares of the financial services provider’s stock, valued at approximately $8,092,000. CHURCHILL MANAGEMENT Corp owned 0.10% of Comerica at the end of the most recent reporting period.
Several other institutional investors have also recently modified their holdings of CMA. Liberty Wealth Management LLC acquired a new position in shares of Comerica during the third quarter worth about $31,000. Private Advisor Group LLC bought a new stake in Comerica in the 2nd quarter valued at approximately $36,000. Whittier Trust Co. boosted its position in Comerica by 1,276.3% during the 3rd quarter. Whittier Trust Co. now owns 1,046 shares of the financial services provider’s stock worth $40,000 after acquiring an additional 970 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of Comerica by 23.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 1,820 shares of the financial services provider’s stock worth $70,000 after acquiring an additional 346 shares in the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Comerica by 48.2% during the 3rd quarter. Federated Hermes Inc. now owns 3,488 shares of the financial services provider’s stock worth $133,000 after acquiring an additional 1,135 shares in the last quarter. Institutional investors own 78.17% of the company’s stock.
In other news, EVP Jay K. Oberg sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 24th. The stock was sold at an average price of $53.69, for a total transaction of $80,535.00. Company insiders own 0.55% of the company’s stock.
Comerica (NYSE:CMA) last posted its earnings results on Tuesday, October 20th. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.60. The company had revenue of $710.00 million during the quarter, compared to analysts’ expectations of $697.43 million. Comerica had a net margin of 16.17% and a return on equity of 7.12%. During the same quarter last year, the company posted $1.96 EPS. Research analysts anticipate that Comerica Incorporated will post 2.98 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, January 1st. Shareholders of record on Tuesday, December 15th were given a dividend of $0.68 per share. The ex-dividend date was Monday, December 14th. This represents a $2.72 annualized dividend and a yield of 4.27%. Comerica’s dividend payout ratio (DPR) is presently 34.83%.
CMA has been the subject of several recent research reports. Truist increased their target price on shares of Comerica from $40.00 to $45.00 in a report on Thursday, October 22nd. Barclays increased their price objective on shares of Comerica from $43.00 to $57.00 and gave the stock an “overweight” rating in a research note on Monday, January 4th. Compass Point downgraded Comerica from a “neutral” rating to a “sell” rating and lifted their target price for the company from $44.00 to $46.00 in a research report on Tuesday, November 10th. Stephens raised Comerica from an “equal weight” rating to an “overweight” rating and set a $62.00 price target for the company in a research report on Thursday, December 17th. Finally, BidaskClub upgraded Comerica from a “hold” rating to a “buy” rating in a research note on Thursday, December 17th. Five equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $45.51.
Comerica Incorporated, through its subsidiaries, provides various financial products and services. It operates through three segments: Business Bank, Retail Bank, and Wealth Management. The Business 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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