VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Comerica Incorporated $CMA

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Comerica Incorporated (NYSE:CMA) during the 3rd quarter, Holdings Channel reports. The firm bought 8,900 shares of the financial services provider’s stock, valued at approximately $610,000.

Several other large investors have also modified their holdings of the stock. Baron Wealth Management LLC grew its position in Comerica by 10.9% in the 3rd quarter. Baron Wealth Management LLC now owns 4,464 shares of the financial services provider’s stock valued at $306,000 after buying an additional 438 shares during the last quarter. Norris Perne & French LLP MI acquired a new stake in shares of Comerica in the 3rd quarter worth $282,000. Pacer Advisors Inc. purchased a new stake in shares of Comerica in the third quarter valued at about $1,160,000. Juncture Wealth Strategies LLC purchased a new stake in shares of Comerica in the third quarter valued at about $321,000. Finally, Corsicana & Co. acquired a new position in shares of Comerica during the third quarter worth about $343,000. Hedge funds and other institutional investors own 80.74% of the company’s stock.

Comerica Stock Up 2.0%

CMA opened at $88.64 on Monday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market cap of $11.33 billion, a price-to-earnings ratio of 16.92 and a beta of 1.03. Comerica Incorporated has a one year low of $48.12 and a one year high of $90.44. The business’s fifty day moving average is $82.41 and its two-hundred day moving average is $73.27.

Comerica (NYSE:CMA) last announced its quarterly earnings results on Monday, December 9th. The financial services provider reported $1.53 earnings per share for the quarter. Comerica had a return on equity of 10.69% and a net margin of 14.91%.The business had revenue of $824.00 million during the quarter. Analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current fiscal year.

Comerica Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 1st. Shareholders of record on Monday, December 15th were issued a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Monday, December 15th. Comerica’s dividend payout ratio is 54.20%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on CMA shares. TD Cowen assumed coverage on Comerica in a report on Thursday, September 25th. They issued a “hold” rating and a $75.00 price objective on the stock. Cantor Fitzgerald began coverage on Comerica in a report on Wednesday, September 10th. They issued a “neutral” rating and a $72.00 price target for the company. Piper Sandler set a $82.00 price objective on Comerica and gave the stock a “neutral” rating in a report on Tuesday, October 7th. Evercore ISI set a $88.00 target price on Comerica and gave the company an “in-line” rating in a report on Thursday, October 30th. Finally, Cowen started coverage on shares of Comerica in a research report on Wednesday, September 24th. They set a “hold” rating on the stock. Two analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $75.68.

Comerica Company Profile

Comerica Incorporated is a diversified financial services company headquartered in Dallas, Texas, operating as Comerica Bank. The company offers a comprehensive suite of banking and financial solutions to businesses, professionals, and individuals. Its principal business activities encompass commercial banking services—such as treasury management, lending, and international trade finance—alongside retail banking products like deposit accounts, consumer loans, and credit cards. In addition, Comerica provides wealth management and trust services, financial advisory, and capital markets solutions to support clients’ complex financial needs.

Established in Detroit in 1849 as the Detroit Savings Fund Institute, Comerica has evolved over more than 170 years to become a regional banking leader.