Comerica Incorporated (NYSE:CMA) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its position in Comerica Incorporated (NYSE:CMA) by 57.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 60,747 shares of the financial services provider’s stock after selling 81,748 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Comerica were worth $3,758,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Comerica by 2.0% in the third quarter. State Street Corp now owns 4,977,670 shares of the financial services provider’s stock worth $301,745,000 after acquiring an additional 96,084 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Comerica by 2.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider’s stock worth $274,092,000 after purchasing an additional 125,514 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of Comerica by 3.0% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider’s stock valued at $153,462,000 after purchasing an additional 72,391 shares in the last quarter. Azora Capital LP boosted its stake in shares of Comerica by 7.8% during the 3rd quarter. Azora Capital LP now owns 2,230,369 shares of the financial services provider’s stock valued at $133,621,000 after buying an additional 161,181 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Comerica by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,111,845 shares of the financial services provider’s stock worth $126,555,000 after buying an additional 29,661 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently issued reports on CMA shares. Truist Financial raised shares of Comerica to a “hold” rating in a report on Monday, January 6th. Morgan Stanley cut their target price on shares of Comerica from $71.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Thursday, March 13th. 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 research note on Thursday, January 23rd. Argus upgraded Comerica to a “hold” rating in a research note on Friday, January 31st. Finally, Robert W. Baird lifted 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. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $68.29.

Comerica Trading Up 0.6 %

Shares of NYSE:CMA opened at $60.87 on Wednesday. Comerica Incorporated has a fifty-two week low of $45.32 and a fifty-two week high of $73.45. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 1.09. The company has a market cap of $7.99 billion, a PE ratio of 12.13 and a beta of 1.23. The company’s 50-day moving average price is $63.41 and its 200 day moving average price is $63.57.

Comerica (NYSE:CMA) last released its quarterly earnings results 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 period in the prior year, the firm posted $1.46 EPS. Sell-side analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.71 per share. This represents a $2.84 dividend on an annualized basis and a dividend yield of 4.67%. The ex-dividend date is Friday, March 14th. Comerica’s dividend payout ratio is currently 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.