R Squared Ltd Invests $132,000 in Comerica Incorporated (NYSE:CMA)

R Squared Ltd purchased a new stake in shares of Comerica Incorporated (NYSE:CMA) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 2,130 shares of the financial services provider’s stock, valued at approximately $132,000.

A number of other institutional investors also recently bought and sold shares of the stock. Wedmont Private Capital grew its holdings in shares of Comerica by 2.4% during the 4th quarter. Wedmont Private Capital now owns 7,870 shares of the financial services provider’s stock worth $474,000 after acquiring an additional 186 shares during the period. Blue Trust Inc. grew its stake in Comerica by 5.2% in the fourth quarter. Blue Trust Inc. now owns 4,040 shares of the financial services provider’s stock worth $242,000 after purchasing an additional 200 shares during the period. MCF Advisors LLC raised its holdings in Comerica by 56.3% in the fourth quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after purchasing an additional 228 shares in the last quarter. Centennial Wealth Advisory LLC lifted its position in Comerica by 5.2% during the third quarter. Centennial Wealth Advisory LLC now owns 5,068 shares of the financial services provider’s stock valued at $304,000 after buying an additional 252 shares during the period. Finally, Trust Co. of Vermont boosted its holdings in shares of Comerica by 300.0% during the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after buying an additional 321 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

Comerica Price Performance

NYSE CMA opened at $65.30 on Thursday. The company has a 50-day moving average price of $65.32 and a 200-day moving average price of $61.14. Comerica Incorporated has a 52 week low of $45.32 and a 52 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 firm has a market capitalization of $8.59 billion, a P/E ratio of 13.01 and a beta of 1.26.

Comerica (NYSE:CMA) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 EPS 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 in the previous year, the firm earned $1.46 EPS. Equities research analysts anticipate that Comerica Incorporated will post 5.36 earnings per share for the current year.

Comerica Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were issued a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.35%. The ex-dividend date of this dividend was Friday, December 13th. Comerica’s dividend payout ratio is presently 56.57%.

Comerica declared that its board has authorized a share buyback program on Tuesday, November 5th that permits the company to repurchase 10,000,000 shares. This repurchase authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of Comerica from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $51.00 to $73.00 in a research note on Friday, November 15th. UBS Group began coverage on Comerica in a research report on Tuesday, December 17th. They issued a “sell” rating and a $64.00 price target on the stock. The Goldman Sachs Group lowered Comerica from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $85.00 to $71.00 in a research report on Tuesday, January 7th. Stephens increased their target price on Comerica from $64.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. lowered their price target on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Comerica presently has an average rating of “Hold” and an average price target of $68.33.

Insiders Place Their Bets

In related news, EVP Allysun C. Fleming sold 1,392 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $68.83, for a total transaction of $95,811.36. Following the completion of the transaction, the executive vice president now directly owns 8,730 shares in the company, valued at approximately $600,885.90. The trade was a 13.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.19% of the company’s stock.

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.