5 Blue Chip Dividend Stocks with Over 3% Yield

4. Comerica Incorporated (NYSE:CMA)

Number of Hedge Fund Holders: 38

Dividend Yield as of April 22: 3.36%

Comerica Incorporated (NYSE:CMA) is a Texas-based provider of financial products and services, offering commercial banking, retail banking, and wealth management. Comerica Incorporated (NYSE:CMA)’s dividend yield on April 22 came in at 3.36%. 

Citi analyst Keith Horowitz on April 21 maintained a Buy recommendation on Comerica Incorporated (NYSE:CMA) but lowered the firm’s price target on the stock to $105 from $110. The company management expects net interest income to increase by more than 13% but refrained from further guidance due to the March 31 forward curve. Citi’s model projects that NII would be up by 20% and remain notably above consensus in 2022 and 2023, the analyst told investors in a research note. He views the post-earnings selloff in the shares as an overreaction and opened a “90-Day Positive Catalyst Watch” on Comerica Incorporated (NYSE:CMA).

On February 23, Comerica Incorporated (NYSE:CMA) declared a quarterly dividend of $0.68 per share. The dividend was distributed on April 1, to shareholders of the company at the close of business on March 15. 

According to Insider Monkey’s Q4 data, 38 hedge funds were bullish on Comerica Incorporated (NYSE:CMA), compared to 31 funds in the earlier quarter. The total stakes owned by elite funds in the fourth quarter of 2021 amounted to $839 million. Billionaire Ken Griffin’s Citadel Investment Group is the biggest stakeholder of Comerica Incorporated (NYSE:CMA), with 2.2 million shares worth $197.6 million.