Natixis Advisors L.P. Grows Stake in Comerica Incorporated (NYSE:CMA)

Natixis Advisors L.P. lifted its stake in Comerica Incorporated (NYSE:CMA) by 88.6% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 272,928 shares of the financial services provider’s stock after acquiring an additional 128,183 shares during the quarter. Natixis Advisors L.P.’s holdings in Comerica were worth $15,231,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Comerica by 129.3% in the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,930,045 shares of the financial services provider’s stock worth $107,716,000 after acquiring an additional 1,088,330 shares in the last quarter. North Reef Capital Management LP boosted its stake in shares of Comerica by 43.0% during the 3rd quarter. North Reef Capital Management LP now owns 2,880,000 shares of the financial services provider’s stock valued at $119,664,000 after buying an additional 865,870 shares during the last quarter. rhino investment partners Inc grew its position in shares of Comerica by 684.2% during the third quarter. rhino investment partners Inc now owns 744,956 shares of the financial services provider’s stock worth $30,953,000 after buying an additional 649,956 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in shares of Comerica during the fourth quarter worth approximately $31,018,000. Finally, Adage Capital Partners GP L.L.C. increased its stake in shares of Comerica by 46.1% in the third quarter. Adage Capital Partners GP L.L.C. now owns 1,462,906 shares of the financial services provider’s stock worth $60,784,000 after buying an additional 461,741 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Upgrades and Downgrades

CMA has been the topic of a number of recent analyst reports. Morgan Stanley restated an “equal weight” rating and issued a $53.00 target price on shares of Comerica in a research note on Monday, April 22nd. DA Davidson reiterated a “neutral” rating and issued a $56.00 target price on shares of Comerica in a research report on Wednesday, March 6th. Truist Financial dropped their price target on Comerica from $62.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Keefe, Bruyette & Woods decreased their price objective on shares of Comerica from $60.00 to $58.00 and set a “market perform” rating for the company in a report on Monday, January 22nd. Finally, Raymond James cut shares of Comerica from an “outperform” rating to a “market perform” rating in a report on Monday, January 22nd. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, Comerica has a consensus rating of “Hold” and an average target price of $56.89.

Insider Buying and Selling

In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $52.74, for a total transaction of $160,013.16. Following the completion of the transaction, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Comerica news, EVP Wendy Bridges sold 3,034 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $52.74, for a total value of $160,013.16. Following the completion of the sale, the executive vice president now directly owns 17,460 shares of the company’s stock, valued at approximately $920,840.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Cassandra M. Mckinney sold 7,271 shares of the firm’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $52.59, for a total transaction of $382,381.89. Following the transaction, the executive vice president now owns 7,236 shares of the company’s stock, valued at approximately $380,541.24. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

Comerica Trading Up 1.6 %

NYSE:CMA opened at $53.93 on Tuesday. The stock has a market cap of $7.15 billion, a price-to-earnings ratio of 10.72 and a beta of 1.27. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.95 and a current ratio of 0.95. Comerica Incorporated has a 1 year low of $30.98 and a 1 year high of $57.39. The business has a fifty day moving average of $51.79 and a 200-day moving average of $50.20.

Comerica (NYSE:CMA) last announced its earnings results on Thursday, April 18th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.16. Comerica had a net margin of 13.11% and a return on equity of 16.51%. The firm had revenue of $1.26 billion during the quarter, compared to analyst estimates of $807.57 million. During the same quarter in the prior year, the firm posted $2.39 EPS. Equities analysts predict that Comerica Incorporated will post 5.16 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $0.71 per share. The ex-dividend date is Friday, June 14th. This represents a $2.84 dividend on an annualized basis and a dividend yield of 5.27%. Comerica’s dividend payout ratio is presently 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.