Allworth Financial LP Raises Stock Position in Comerica Incorporated $CMA

Allworth Financial LP lifted its position in shares of Comerica Incorporated (NYSE:CMA) by 36.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 13,870 shares of the financial services provider’s stock after purchasing an additional 3,721 shares during the period. Allworth Financial LP’s holdings in Comerica were worth $827,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CMA. Lynx Investment Advisory boosted its stake in shares of Comerica by 3.3% during the second quarter. Lynx Investment Advisory now owns 5,135 shares of the financial services provider’s stock worth $306,000 after buying an additional 163 shares during the period. Geneos Wealth Management Inc. raised its position in Comerica by 41.8% in the first quarter. Geneos Wealth Management Inc. now owns 597 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 176 shares in the last quarter. Parallel Advisors LLC increased its holdings in shares of Comerica by 19.6% in the 2nd quarter. Parallel Advisors LLC now owns 1,152 shares of the financial services provider’s stock valued at $69,000 after purchasing an additional 189 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Comerica by 0.5% during the 2nd quarter. Louisiana State Employees Retirement System now owns 37,000 shares of the financial services provider’s stock valued at $2,207,000 after acquiring an additional 200 shares during the period. Finally, Keeley Teton Advisors LLC raised its stake in shares of Comerica by 0.7% during the 1st quarter. Keeley Teton Advisors LLC now owns 32,079 shares of the financial services provider’s stock worth $1,895,000 after buying an additional 217 shares during the last quarter. 80.74% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CMA has been the topic of a number of analyst reports. Stephens reaffirmed an “equal weight” rating on shares of Comerica in a research note on Monday, July 21st. UBS Group set a $64.00 price objective on shares of Comerica and gave the stock a “neutral” rating in a research note on Monday, July 21st. Wells Fargo & Company lifted their price objective on shares of Comerica from $65.00 to $97.00 and gave the company an “equal weight” rating in a research note on Monday, October 20th. TD Cowen began coverage on Comerica in a research note on Thursday, September 25th. They issued a “hold” rating and a $75.00 price target on the stock. Finally, Piper Sandler set a $82.00 price target on shares of Comerica and gave the company a “neutral” rating in a report on Tuesday, October 7th. Three research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $74.55.

Comerica Stock Up 0.2%

Shares of Comerica stock opened at $78.29 on Friday. The stock has a 50-day moving average price of $74.43 and a 200 day moving average price of $66.35. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.77. The company has a market cap of $10.00 billion, a P/E ratio of 14.94 and a beta of 1.04. Comerica Incorporated has a 1 year low of $48.12 and a 1 year high of $83.22.

Comerica (NYSE:CMA) last released its quarterly earnings data on Monday, December 9th. The financial services provider reported $1.53 EPS for the quarter. Comerica had a return on equity of 10.69% and a net margin of 14.91%.The firm had revenue of $824.00 million for the quarter. As a group, analysts expect that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 1st. Investors of record on Monday, December 15th will be paid a $0.71 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a $2.84 dividend on an annualized basis and a yield of 3.6%. Comerica’s payout ratio is presently 54.20%.

About Comerica

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.