Comerica Incorporated (NYSE:CMA) Shares Bought by Mitsubishi UFJ Asset Management Co. Ltd.
Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Comerica Incorporated (NYSE:CMA – Free Report) by 4.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 70,615 shares of the financial services provider’s stock after buying an additional 2,689 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.05% of Comerica worth $3,861,000 as of its most recent filing with the SEC. Several other hedge funds and other institutional investors have also modified their holdings of the business. Allspring Global Investments Holdings LLC grew its holdings in Comerica by 10.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,742 shares of the financial services provider’s stock worth $363,000 after buying an additional 856 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Comerica by 7.4% during the 3rd quarter. Fifth Third Bancorp now owns 15,120 shares of the financial services provider’s stock worth $628,000 after buying an additional 1,036 shares in the last quarter. New Mexico Educational Retirement Board lifted its stake in shares of Comerica by 7.9% in the 3rd quarter. New Mexico Educational Retirement Board now owns 6,864 shares of the financial services provider’s stock worth $285,000 after acquiring an additional 500 shares during the period. Daiwa Securities Group Inc. boosted its holdings in shares of Comerica by 15.8% in the third quarter. Daiwa Securities Group Inc. now owns 3,111 shares of the financial services provider’s stock valued at $129,000 after acquiring an additional 424 shares in the last quarter. Finally, Coldstream Capital Management Inc. increased its stake in shares of Comerica by 11.8% during the third quarter. Coldstream Capital Management Inc. now owns 7,717 shares of the financial services provider’s stock valued at $321,000 after acquiring an additional 813 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds. Analyst Upgrades and Downgrades CMA has been the subject of a number of research reports. Stephens reaffirmed an “overweight” rating and set a $64.00 price target on shares of Comerica in a research note on Friday, April 19th. Citigroup cut shares of Comerica from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $60.00 to $56.00 in a research report on Monday, May 6th. Truist Financial cut their price target on shares of Comerica from $62.00 to $60.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Keefe, Bruyette & Woods lowered their price objective on shares of Comerica from $60.00 to $58.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd. Finally, Morgan Stanley reissued an “equal weight” rating and set a $53.00 target price on shares of Comerica in a research note on Monday, April 22nd. Three equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Comerica currently has a consensus rating of “Hold” and a consensus price target of $56.89. Check Out Our Latest Stock Analysis on CMA Insider Buying and Selling In other news, EVP Cassandra M. Mckinney sold 7,271 shares of the stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the sale, the executive vice president now directly owns 7,236 shares of the company’s stock, valued at $380,541.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is owned by corporate insiders. Comerica Trading Up 0.6 % Shares of CMA stock opened at $54.83 on Monday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a fifty day moving average of $52.42 and a 200-day moving average of $51.17. Comerica Incorporated has a 52-week low of $34.88 and a 52-week high of $57.39. The stock has a market cap of $7.27 billion, a price-to-earnings ratio of 10.90 and a beta of 1.27. Comerica (NYSE:CMA – Get Free Report) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. The business had revenue of $1.26 billion during the quarter, compared to analysts’ expectations of $807.57 million. Comerica had a net margin of 13.11% and a return on equity of 16.51%. During the same quarter last year, the company posted $2.39 EPS. On average, equities research analysts forecast that Comerica Incorporated will post 5.16 earnings per share for the current fiscal year. Comerica Announces Dividend The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.71 dividend. This represents a $2.84 dividend on an annualized basis and a yield of 5.18%. The ex-dividend date is Friday, June 14th. Comerica’s dividend payout ratio is currently 56.46%. Comerica Company Profile (Free Report) 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.
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