Goldman Sachs Group Inc. Raises Stake in Comerica Incorporated (NYSE:CMA)

Goldman Sachs Group Inc. lifted its stake in shares of Comerica Incorporated (NYSE:CMA) by 51.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,564,217 shares of the financial services provider’s stock after purchasing an additional 870,812 shares during the quarter. Goldman Sachs Group Inc. owned about 1.94% of Comerica worth $143,109,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Bison Wealth LLC boosted its position in Comerica by 1.7% during the fourth quarter. Bison Wealth LLC now owns 11,653 shares of the financial services provider’s stock worth $650,000 after purchasing an additional 196 shares in the last quarter. Fruth Investment Management boosted its position in shares of Comerica by 1.6% in the 4th quarter. Fruth Investment Management now owns 13,090 shares of the financial services provider’s stock worth $730,000 after buying an additional 200 shares in the last quarter. Yousif Capital Management LLC grew its stake in Comerica by 2.8% in the 4th quarter. Yousif Capital Management LLC now owns 7,918 shares of the financial services provider’s stock valued at $442,000 after acquiring an additional 219 shares during the last quarter. Spire Wealth Management grew its stake in Comerica by 95.9% in the 4th quarter. Spire Wealth Management now owns 480 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 235 shares during the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Comerica by 26.6% during the 4th quarter. Venturi Wealth Management LLC now owns 1,407 shares of the financial services provider’s stock valued at $79,000 after acquiring an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on CMA. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $58.00 price target on shares of Comerica in a research report on Tuesday. Truist Financial cut their price target on Comerica from $60.00 to $55.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank of Canada decreased their price objective on Comerica from $62.00 to $58.00 and set an “outperform” rating on the stock in a research note on Wednesday. UBS Group dropped their price objective on Comerica from $59.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $53.00 target price on shares of Comerica in a report on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Comerica currently has an average rating of “Hold” and an average target price of $55.77.

Comerica Trading Down 1.3 %

CMA stock traded down $0.64 during midday trading on Friday, reaching $46.82. 1,548,217 shares of the company’s stock traded hands, compared to its average volume of 1,824,185. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.95 and a quick ratio of 0.95. Comerica Incorporated has a fifty-two week low of $37.40 and a fifty-two week high of $57.39. The business has a 50-day moving average price of $51.39 and a two-hundred day moving average price of $51.95. The company has a market capitalization of $6.21 billion, a P/E ratio of 9.31 and a beta of 1.25.

Comerica (NYSE:CMA) last posted its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.16. The business had revenue of $1.26 billion for the quarter, compared to analyst estimates of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same quarter in the previous year, the business posted $2.39 EPS. Equities research analysts forecast that Comerica Incorporated will post 5.16 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a yield of 6.07%. The ex-dividend date is Friday, June 14th. Comerica’s dividend payout ratio (DPR) is 56.46%.

Insider Transactions at Comerica

In other Comerica news, EVP Cassandra M. Mckinney sold 7,271 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total value of $382,381.89. Following the completion of the transaction, the executive vice president now directly owns 7,236 shares of the company’s stock, valued at approximately $380,541.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.19% of the company’s stock.

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.