Comerica Incorporated (NYSE:CMA) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System decreased its holdings in shares of Comerica Incorporated (NYSE:CMA) by 85.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 7,571 shares of the financial services provider’s stock after selling 44,801 shares during the period. Maryland State Retirement & Pension System’s holdings in Comerica were worth $468,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Wedmont Private Capital grew its holdings in shares of Comerica by 2.4% during the fourth quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock valued at $474,000 after purchasing an additional 186 shares during the last quarter. Blue Trust Inc. boosted its position in Comerica by 5.2% during the 4th quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock valued at $242,000 after purchasing an additional 200 shares during the period. V Square Quantitative Management LLC grew its stake in Comerica by 36.7% during the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock worth $51,000 after buying an additional 221 shares during the last quarter. US Bancorp DE increased its position in Comerica by 2.0% in the fourth quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock worth $731,000 after buying an additional 227 shares during the period. Finally, MCF Advisors LLC lifted its stake in Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after buying an additional 228 shares during the last quarter. Institutional investors own 80.74% of the company’s stock.

Comerica Price Performance

NYSE CMA opened at $60.87 on Wednesday. Comerica Incorporated has a 1 year low of $45.32 and a 1 year high of $73.45. The business’s fifty day moving average is $63.41 and its two-hundred day moving average is $63.57. The stock has a market capitalization of $7.99 billion, a P/E ratio of 12.13 and a beta of 1.23. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97.

Comerica (NYSE:CMA) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS for the quarter, missing the consensus estimate of $1.25 by ($0.05). Comerica had a net margin of 13.98% and a return on equity of 12.04%. During the same period in the previous year, the company earned $1.46 EPS. On average, research analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $0.71 dividend. This represents a $2.84 annualized dividend and a dividend yield of 4.67%. The ex-dividend date is Friday, March 14th. Comerica’s dividend payout ratio (DPR) is currently 56.57%.

Wall Street Analysts Forecast Growth

CMA has been the subject of several recent research reports. Truist Financial raised shares of Comerica to a “hold” rating in a report on Monday, January 6th. Argus upgraded shares of Comerica to a “hold” rating in a research note on Friday, January 31st. Piper Sandler boosted their price objective on Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 3rd. Robert W. Baird increased their price objective on Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a report on Tuesday, February 11th. Finally, UBS Group assumed coverage on Comerica in a research note on Tuesday, December 17th. They set a “sell” rating and a $64.00 target price on the stock. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $68.29.

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.