Quantbot Technologies LP Purchases Shares of 104,089 Comerica Incorporated (NYSE:CMA)

Quantbot Technologies LP acquired a new position in shares of Comerica Incorporated (NYSE:CMA) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 104,089 shares of the financial services provider’s stock, valued at approximately $6,438,000. Quantbot Technologies LP owned about 0.08% of Comerica at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of CMA. Wedmont Private Capital increased its holdings in Comerica by 2.4% in 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 last quarter. Blue Trust Inc. lifted its holdings in shares of 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 buying an additional 200 shares in the last quarter. V Square Quantitative Management LLC boosted its position in shares of Comerica by 36.7% in the fourth quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after acquiring an additional 221 shares during the period. US Bancorp DE grew its stake in Comerica by 2.0% during the fourth quarter. US Bancorp DE now owns 11,823 shares of the financial services provider’s stock valued at $731,000 after acquiring an additional 227 shares in the last quarter. Finally, MCF Advisors LLC increased its holdings in Comerica by 56.3% during the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock worth $39,000 after acquiring an additional 228 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Comerica Trading Up 1.2 %

CMA opened at $57.75 on Friday. The stock’s fifty day moving average is $63.81 and its two-hundred day moving average is $63.30. The company has a market capitalization of $7.58 billion, a P/E ratio of 11.50 and a beta of 1.23. 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.

Comerica (NYSE:CMA) last posted its quarterly earnings data 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 return on equity of 12.04% and a net margin of 13.98%. During the same period last year, the firm posted $1.46 earnings per share. Analysts forecast that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $0.71 per share. The ex-dividend date is Friday, March 14th. This represents a $2.84 dividend on an annualized basis and a yield of 4.92%. Comerica’s dividend payout ratio is currently 56.57%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Robert W. Baird boosted their price target on shares of Comerica from $75.00 to $80.00 and gave the company an “outperform” rating in a research report on Tuesday, February 11th. Keefe, Bruyette & Woods decreased their price objective on Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a report on Thursday, January 23rd. Compass Point raised their price objective on Comerica from $64.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Truist Financial raised Comerica to a “hold” rating in a research note on Monday, January 6th. Finally, DA Davidson decreased their price target on Comerica from $71.00 to $67.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $68.29.

About Comerica

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.