Neuberger Berman Group LLC boosted its stake in Comerica Incorporated (NYSE:CMA) by 11.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,050,662 shares of the financial services provider’s stock after acquiring an additional 202,516 shares during the period. Neuberger Berman Group LLC owned 1.53% of Comerica worth $144,965,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Lazard Asset Management LLC boosted its stake in shares of Comerica by 51.9% during the 2nd quarter. Lazard Asset Management LLC now owns 395 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 135 shares in the last quarter. Greenleaf Trust raised its holdings in Comerica by 1.3% in the 2nd quarter. Greenleaf Trust now owns 10,529 shares of the financial services provider’s stock valued at $751,000 after acquiring an additional 138 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Comerica by 17.5% in the 2nd quarter. Daiwa Securities Group Inc. now owns 942 shares of the financial services provider’s stock valued at $67,000 after acquiring an additional 140 shares during the last quarter. Verition Fund Management LLC raised its holdings in Comerica by 1.9% in the 1st quarter. Verition Fund Management LLC now owns 7,684 shares of the financial services provider’s stock valued at $551,000 after acquiring an additional 146 shares during the last quarter. Finally, Savant Capital LLC raised its holdings in Comerica by 4.1% in the 2nd quarter. Savant Capital LLC now owns 4,600 shares of the financial services provider’s stock valued at $328,000 after acquiring an additional 181 shares during the last quarter. 77.60% of the stock is currently owned by institutional investors.
Shares of NYSE:CMA opened at $82.43 on Thursday. The stock has a market capitalization of $11.04 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 0.34 and a beta of 1.59. Comerica Incorporated has a 1-year low of $40.08 and a 1-year high of $85.35. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.93 and a current ratio of 0.93. The company has a 50 day moving average price of $75.81 and a 200 day moving average price of $73.65.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 1st. Stockholders of record on Wednesday, September 15th were issued a dividend of $0.68 per share. The ex-dividend date of this dividend was Tuesday, September 14th. This represents a $2.72 dividend on an annualized basis and a dividend yield of 3.30%. Comerica’s dividend payout ratio is currently 83.18%.
A number of analysts have recently commented on CMA shares. B. Riley upped their price objective on Comerica from $68.00 to $78.00 and gave the stock a “neutral” rating in a report on Wednesday, October 6th. Jefferies Financial Group increased their price target on Comerica from $75.00 to $86.00 and gave the company a “hold” rating in a report on Monday. Truist lowered their price target on Comerica from $100.00 to $83.00 and set a “buy” rating for the company in a report on Thursday, July 22nd. Wolfe Research raised shares of Comerica from an “underperform” rating to an “outperform” rating and upped their price objective for the company from $80.00 to $101.00 in a research report on Tuesday, October 5th. Finally, Keefe, Bruyette & Woods raised shares of Comerica from a “market perform” rating to an “outperform” rating and set a $90.00 price objective for the company in a research report on Tuesday, September 7th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $80.00.
Comerica, Inc engages in the provision of financial services. It operates through the following segments: Commercial Bank, Retail Bank, Wealth Management, Finance and Other. The Commercial Bank segment involves in the middle market businesses, multinational corporations, and governmental entities by offering various products and services such as commercial loans and lines of credit, deposits, cash management, capital market products, international trade finance, letters of credit, foreign exchange management services, and loan syndication services.
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