Invesco Ltd. Has $81.39 Million Stake in Comerica Incorporated $CMA

Invesco Ltd. grew its holdings in shares of Comerica Incorporated (NYSE:CMA) by 15.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,364,369 shares of the financial services provider’s stock after acquiring an additional 181,156 shares during the period. Invesco Ltd. owned 1.06% of Comerica worth $81,385,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Baron Wealth Management LLC acquired a new stake in Comerica during the second quarter worth approximately $240,000. Rhino Investment Partners Inc grew its position in shares of Comerica by 35.4% during the 1st quarter. Rhino Investment Partners Inc now owns 392,662 shares of the financial services provider’s stock worth $23,191,000 after buying an additional 102,647 shares during the period. HighTower Advisors LLC grew its position in shares of Comerica by 13.1% during the 1st quarter. HighTower Advisors LLC now owns 48,407 shares of the financial services provider’s stock worth $2,859,000 after buying an additional 5,596 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Comerica by 9.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,321,494 shares of the financial services provider’s stock valued at $137,107,000 after acquiring an additional 203,333 shares in the last quarter. Finally, Applied Finance Capital Management LLC acquired a new position in shares of Comerica during the 2nd quarter valued at $207,000. 80.74% of the stock is owned by institutional investors.

Comerica Price Performance

Shares of NYSE CMA opened at $83.81 on Wednesday. The stock has a market cap of $10.71 billion, a price-to-earnings ratio of 15.99 and a beta of 1.07. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.96 and a current ratio of 0.96. Comerica Incorporated has a fifty-two week low of $48.12 and a fifty-two week high of $85.32. The firm’s 50-day simple moving average is $78.17 and its 200 day simple moving average is $69.32.

Comerica (NYSE:CMA) last issued its quarterly earnings data on Monday, December 9th. The financial services provider reported $1.53 EPS for the quarter. The firm had revenue of $824.00 million during the quarter. Comerica had a return on equity of 10.69% and a net margin of 14.91%. As a group, research analysts anticipate that Comerica Incorporated will post 5.28 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 1st. Shareholders of record on Monday, December 15th will be paid a dividend of $0.71 per share. The ex-dividend date is Monday, December 15th. This represents a $2.84 annualized dividend and a yield of 3.4%. Comerica’s dividend payout ratio (DPR) is 54.20%.

Analysts Set New Price Targets

CMA has been the subject of a number of research reports. Morgan Stanley upgraded shares of Comerica from an “underweight” rating to an “equal weight” rating and set a $83.00 price target for the company in a report on Tuesday, October 7th. Royal Bank Of Canada raised their target price on Comerica from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, October 10th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $93.00 target price (up from $73.00) on shares of Comerica in a research report on Friday, October 10th. Piper Sandler set a $82.00 price target on Comerica and gave the stock a “neutral” rating in a research note on Tuesday, October 7th. Finally, TD Cowen started coverage on Comerica in a report on Thursday, September 25th. They issued a “hold” rating and a $75.00 price target on the stock. Two analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $74.26.

Comerica 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.