Fruth Investment Management Takes $622,000 Position in Comerica Incorporated (NYSE:CMA)

Fruth Investment Management bought a new position in shares of Comerica Incorporated (NYSE:CMA) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 11,146 shares of the financial services provider’s stock, valued at approximately $622,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CMA. Prudential PLC acquired a new position in Comerica during the 3rd quarter worth about $83,886,000. State Street Corp lifted its stake in Comerica by 13.6% during the 3rd quarter. State Street Corp now owns 8,402,362 shares of the financial services provider’s stock worth $326,868,000 after acquiring an additional 1,006,820 shares in the last quarter. Neuberger Berman Group LLC lifted its stake in Comerica by 37.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 1,898,703 shares of the financial services provider’s stock worth $72,570,000 after acquiring an additional 515,484 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Comerica by 26.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,974,338 shares of the financial services provider’s stock worth $75,223,000 after acquiring an additional 418,883 shares in the last quarter. Finally, FMR LLC lifted its stake in Comerica by 6.4% during the 2nd quarter. FMR LLC now owns 3,535,832 shares of the financial services provider’s stock worth $134,716,000 after acquiring an additional 212,918 shares in the last quarter. 78.17% of the stock is currently owned by hedge funds and other institutional investors.

In related news, EVP Jay K. Oberg sold 1,500 shares of the firm’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.

A number of research firms have issued reports on CMA. Morgan Stanley increased their price target on Comerica from $54.00 to $59.00 and gave the company an “equal weight” rating in a research report on Thursday, January 7th. Barclays increased their price target on Comerica from $43.00 to $57.00 and gave the company an “overweight” rating in a research report on Monday, January 4th. Compass Point lowered Comerica from a “neutral” rating to a “sell” rating and increased their price target for the company from $44.00 to $46.00 in a research report on Tuesday, November 10th. Truist increased their price target on Comerica from $40.00 to $45.00 in a research report on Thursday, October 22nd. Finally, B. Riley increased their price target on Comerica from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Thursday, January 7th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have issued a buy rating to the company. Comerica currently has an average rating of “Hold” and an average price target of $45.51.

NYSE:CMA opened at $63.68 on Thursday. The stock’s 50 day moving average price is $55.08 and its 200 day moving average price is $44.55. The company has a market capitalization of $8.86 billion, a PE ratio of 17.54 and a beta of 1.67. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.77. Comerica Incorporated has a 52-week low of $24.28 and a 52-week high of $69.23.

Comerica (NYSE:CMA) last released its quarterly 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 firm had revenue of $710.00 million for the quarter, compared to the consensus estimate of $697.43 million. Comerica had a return on equity of 7.12% and a net margin of 16.17%. During the same quarter last year, the business posted $1.96 EPS. As a group, sell-side analysts anticipate 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 Friday, January 1st. Investors of record on Tuesday, December 15th were paid a dividend of $0.68 per share. The ex-dividend date was Monday, December 14th. This represents a $2.72 dividend on an annualized basis and a yield of 4.27%. Comerica’s dividend payout ratio is presently 34.83%.

Comerica Company Profile

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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Institutional Ownership by Quarter for Comerica (NYSE:CMA)

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