Barrow Hanley Mewhinney & Strauss LLC Increases Holdings in Comerica Incorporated (NYSE:CMA)

Barrow Hanley Mewhinney & Strauss LLC grew its holdings in Comerica Incorporated (NYSE:CMA) by 29.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,149,591 shares of the financial services provider’s stock after acquiring an additional 492,381 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC’s holdings in Comerica were worth $132,952,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CMA. Trust Co. of Vermont increased its stake in Comerica by 300.0% in the fourth quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 321 shares during the last quarter. Luken Investment Analytics LLC acquired a new stake in Comerica during the 4th quarter worth $31,000. MCF Advisors LLC boosted its stake in Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 228 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Comerica during the 3rd quarter worth $42,000. Finally, V Square Quantitative Management LLC increased its stake in Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 221 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on CMA shares. Royal Bank of Canada decreased their price target on Comerica from $78.00 to $76.00 and set an “outperform” rating for the company in a report on Thursday, January 23rd. The Goldman Sachs Group lowered shares of Comerica from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $85.00 to $71.00 in a research note on Tuesday, January 7th. Robert W. Baird boosted their target price on Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 11th. Piper Sandler increased their target price on Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 3rd. Finally, Wells Fargo & Company decreased their price target on Comerica from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $68.00.

Comerica Trading Down 1.5 %

Comerica stock opened at $58.73 on Friday. The stock has a market cap of $7.71 billion, a PE ratio of 11.70 and a beta of 1.23. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 1.09. The stock has a 50-day moving average price of $63.07 and a 200 day moving average price of $63.58. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45.

Comerica (NYSE:CMA) last posted its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share for the quarter, missing analysts’ consensus estimates 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 quarter last year, the business posted $1.46 earnings per share. Equities research analysts predict that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a dividend yield of 4.84%. The ex-dividend date of this dividend is Friday, March 14th. Comerica’s dividend payout ratio (DPR) is 56.57%.

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.