Abich Financial Wealth Management LLC Acquires 300 Shares of Comerica Incorporated (NYSE:CMA)

Abich Financial Wealth Management LLC raised its holdings in Comerica Incorporated (NYSE:CMA) by 50.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 898 shares of the financial services provider’s stock after acquiring an additional 300 shares during the quarter. Abich Financial Wealth Management LLC’s holdings in Comerica were worth $49,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Comerica by 4.2% in the 4th quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock valued at $941,968,000 after acquiring an additional 676,959 shares during the period. Charles Schwab Investment Management Inc. increased its position in Comerica by 1.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,343,131 shares of the financial services provider’s stock worth $186,580,000 after purchasing an additional 48,526 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Comerica by 60.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,605,943 shares of the financial services provider’s stock worth $145,444,000 after purchasing an additional 984,391 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Comerica by 51.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock worth $143,109,000 after acquiring an additional 870,812 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. grew its holdings in Comerica by 129.3% during the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock worth $107,716,000 after acquiring an additional 1,088,330 shares during the last quarter. 80.74% of the stock is owned by institutional investors.

Comerica Price Performance

CMA traded down $0.83 during trading on Friday, reaching $52.05. 3,107,856 shares of the company traded hands, compared to its average volume of 2,496,561. The firm has a fifty day simple moving average of $50.70 and a 200 day simple moving average of $51.57. Comerica Incorporated has a 12-month low of $37.40 and a 12-month high of $58.50. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.95 and a current ratio of 0.96. The company has a market cap of $6.91 billion, a P/E ratio of 10.35 and a beta of 1.25.

Comerica (NYSE:CMA) last posted its earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.19 by $0.30. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $812.79 million. During the same period last year, the firm posted $2.01 earnings per share. On average, equities analysts forecast that Comerica Incorporated will post 5.05 EPS for the current year.

Comerica Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.84 dividend on an annualized basis and a yield of 5.46%. Comerica’s dividend payout ratio is currently 56.46%.

Analyst Ratings Changes

Several research analysts recently issued reports on CMA shares. StockNews.com lowered shares of Comerica from a “hold” rating to a “sell” rating in a research note on Thursday. Truist Financial downgraded shares of Comerica from a “buy” rating to a “hold” rating and lowered their target price for the company from $55.00 to $53.00 in a report on Monday, July 22nd. Evercore ISI lowered their target price on shares of Comerica from $58.00 to $54.00 and set an “in-line” rating for the company in a report on Tuesday, June 25th. Robert W. Baird lowered their target price on shares of Comerica from $72.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. Finally, Piper Sandler increased their target price on shares of Comerica from $51.00 to $52.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Three investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $54.95.

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.