Oregon Public Employees Retirement Fund Increases Stock Position in Comerica Incorporated (NYSE:CMA)

Oregon Public Employees Retirement Fund boosted its holdings in Comerica Incorporated (NYSE:CMA) by 186.8% in the 2nd quarter, Holdings Channel reports. The firm owned 32,200 shares of the financial services provider’s stock after purchasing an additional 20,974 shares during the period. Oregon Public Employees Retirement Fund’s holdings in Comerica were worth $1,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Comerica by 4.2% in the fourth quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock valued at $941,968,000 after purchasing an additional 676,959 shares during the period. Dimensional Fund Advisors LP increased its position in Comerica by 60.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,605,943 shares of the financial services provider’s stock valued at $145,444,000 after acquiring an additional 984,391 shares during the period. Goldman Sachs Group Inc. raised its stake in Comerica by 51.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock valued at $143,109,000 after acquiring an additional 870,812 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in Comerica by 1.1% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,834,304 shares of the financial services provider’s stock worth $93,621,000 after acquiring an additional 19,068 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of Comerica by 9.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,533,857 shares of the financial services provider’s stock valued at $78,288,000 after purchasing an additional 130,458 shares during the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CMA shares. Truist Financial cut Comerica from a “buy” rating to a “hold” rating and cut their price target for the stock from $55.00 to $53.00 in a research note on Monday, July 22nd. Keefe, Bruyette & Woods upgraded shares of Comerica from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $50.00 to $69.00 in a research note on Thursday. StockNews.com lowered shares of Comerica from a “hold” rating to a “sell” rating in a research note on Friday. JPMorgan Chase & Co. cut their price target on shares of Comerica from $62.00 to $57.00 and set a “neutral” rating for the company in a report on Thursday, June 27th. Finally, Robert W. Baird lowered their price objective on Comerica from $72.00 to $68.00 and set an “outperform” rating on the stock in a report on Thursday, June 20th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $56.05.

Insiders Place Their Bets

In other news, EVP Christine M. Moore sold 2,545 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $57.51, for a total value of $146,362.95. Following the completion of the transaction, the executive vice president now owns 27,910 shares of the company’s stock, valued at $1,605,104.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 0.19% of the stock is owned by corporate insiders.

Comerica Trading Down 0.3 %

Shares of CMA opened at $54.87 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 0.96 and a quick ratio of 0.96. Comerica Incorporated has a 1-year low of $37.40 and a 1-year high of $58.50. The stock has a market cap of $7.28 billion, a price-to-earnings ratio of 10.91 and a beta of 1.23. The firm has a 50 day simple moving average of $53.94 and a 200-day simple moving average of $52.06.

Comerica (NYSE:CMA) last released its quarterly earnings results on Friday, July 19th. The financial services provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.30. Comerica had a return on equity of 15.01% and a net margin of 12.15%. The company had revenue of $1.26 billion during the quarter, compared to the consensus estimate of $812.79 million. During the same quarter last year, the business posted $2.01 earnings per share. Equities analysts forecast that Comerica Incorporated will post 5.05 EPS for the current fiscal year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be issued a $0.71 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $2.84 dividend on an annualized basis and a yield of 5.18%. Comerica’s dividend payout ratio (DPR) is 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.