Mather Group LLC. Grows Stake in Comerica Incorporated (NYSE:CMA)

Mather Group LLC. lifted its stake in Comerica Incorporated (NYSE:CMA) by 30.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,819 shares of the financial services provider’s stock after buying an additional 1,128 shares during the quarter. Mather Group LLC.’s holdings in Comerica were worth $265,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Versant Capital Management Inc boosted its position in Comerica by 2,723.3% in the 2nd quarter. Versant Capital Management Inc now owns 847 shares of the financial services provider’s stock valued at $43,000 after buying an additional 817 shares during the period. GAMMA Investing LLC increased its position in Comerica by 27.4% during the 2nd quarter. GAMMA Investing LLC now owns 4,128 shares of the financial services provider’s stock valued at $211,000 after buying an additional 888 shares in the last quarter. Abich Financial Wealth Management LLC boosted its stake in Comerica by 50.2% in the 1st quarter. Abich Financial Wealth Management LLC now owns 898 shares of the financial services provider’s stock worth $49,000 after purchasing an additional 300 shares in the last quarter. Cetera Advisors LLC purchased a new stake in shares of Comerica during the first quarter valued at $259,000. Finally, Algebris UK Ltd acquired a new stake in Comerica during the 1st quarter worth about $11,872,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Analyst Ratings Changes

CMA has been the subject of several analyst reports. Raymond James raised Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a report on Tuesday, July 2nd. Truist Financial lowered shares of Comerica from a “buy” rating to a “hold” rating and dropped their target price for the stock from $55.00 to $53.00 in a report on Monday, July 22nd. UBS Group lowered their price objective on Comerica from $59.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. The Goldman Sachs Group decreased their price objective on Comerica from $69.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. Finally, Piper Sandler lifted their price target on shares of Comerica from $51.00 to $52.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Three equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $55.45.

Comerica Trading Up 1.4 %

NYSE CMA traded up $0.71 on Wednesday, hitting $52.54. 415,103 shares of the company were exchanged, compared to its average volume of 2,259,888. The company’s 50 day moving average price is $50.75 and its 200-day moving average price is $51.55. The firm has a market capitalization of $6.97 billion, a P/E ratio of 10.30 and a beta of 1.25. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.95. Comerica Incorporated has a twelve month low of $37.40 and a twelve month high of $58.50.

Comerica (NYSE:CMA) last posted its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.19 by $0.30. Comerica had a net margin of 12.15% and a return on equity of 15.01%. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $812.79 million. During the same period last year, the company posted $2.01 earnings per share. Analysts predict that Comerica Incorporated will post 5.05 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Friday, September 13th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 5.41%. The ex-dividend date is Friday, September 13th. Comerica’s dividend payout ratio is currently 56.46%.

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.