Comerica Incorporated (NYSE:CMA) Shares Bought by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC grew its holdings in Comerica Incorporated (NYSE:CMA) by 248.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 69,470 shares of the financial services provider’s stock after acquiring an additional 49,516 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Comerica were worth $4,297,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CMA. PL Capital Advisors LLC boosted its stake in Comerica by 6,085.0% in the 4th quarter. PL Capital Advisors LLC now owns 1,778,188 shares of the financial services provider’s stock worth $109,981,000 after purchasing an additional 1,749,438 shares in the last quarter. Citigroup Inc. raised its holdings in shares of Comerica by 390.6% in the third quarter. Citigroup Inc. now owns 761,601 shares of the financial services provider’s stock worth $45,628,000 after buying an additional 606,375 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Comerica by 31.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,408,820 shares of the financial services provider’s stock worth $144,312,000 after buying an additional 574,516 shares during the period. JPMorgan Chase & Co. grew its holdings in shares of Comerica by 134.0% during the third quarter. JPMorgan Chase & Co. now owns 856,431 shares of the financial services provider’s stock valued at $51,309,000 after buying an additional 490,468 shares during the last quarter. Finally, Primecap Management Co. CA acquired a new position in shares of Comerica in the 3rd quarter valued at $26,630,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Stock Down 4.5 %

Shares of CMA opened at $59.79 on Wednesday. The firm has a market cap of $7.85 billion, a P/E ratio of 11.91 and a beta of 1.25. Comerica Incorporated has a 12 month low of $45.32 and a 12 month high of $73.45. The stock’s 50 day moving average is $64.48 and its two-hundred day moving average is $63.31. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09.

Comerica (NYSE:CMA) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (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 quarter last year, the firm posted $1.46 earnings per share. Analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica announced that its board has initiated a stock buyback program on Tuesday, November 5th that permits the company to repurchase 10,000,000 outstanding shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Comerica Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $0.71 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.75%. Comerica’s dividend payout ratio is currently 56.57%.

Analyst Upgrades and Downgrades

CMA has been the subject of a number of research reports. Piper Sandler lifted their price target on Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Truist Financial raised Comerica to a “hold” rating in a report on Monday, January 6th. DA Davidson cut their price target on shares of Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. UBS Group began coverage on shares of Comerica in a research report on Tuesday, December 17th. They set a “sell” rating and a $64.00 price target for the company. Finally, Argus raised shares of Comerica to a “hold” rating in a report on Friday, January 31st. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $68.57.

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.