WINTON GROUP Ltd Acquires Shares of 29,605 Comerica Incorporated (NYSE:CMA)

WINTON GROUP Ltd acquired a new position in Comerica Incorporated (NYSE:CMA) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 29,605 shares of the financial services provider’s stock, valued at approximately $1,511,000.

Several other hedge funds have also modified their holdings of the company. Price T Rowe Associates Inc. MD raised its holdings in Comerica by 105.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 182,402 shares of the financial services provider’s stock worth $10,031,000 after purchasing an additional 3,595,036 shares during the period. Norges Bank purchased a new position in shares of Comerica during the 4th quarter valued at approximately $80,691,000. Azora Capital LP acquired a new stake in Comerica in the 4th quarter valued at $63,548,000. Goldman Sachs Group Inc. increased its holdings in Comerica by 51.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,564,217 shares of the financial services provider’s stock worth $143,109,000 after acquiring an additional 870,812 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Comerica by 4.2% during the fourth quarter. Vanguard Group Inc. now owns 16,878,129 shares of the financial services provider’s stock worth $941,968,000 after acquiring an additional 676,959 shares during the period. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on CMA. Truist Financial cut shares of Comerica from a “buy” rating to a “hold” rating and cut their target price for the stock from $55.00 to $53.00 in a research note on Monday, July 22nd. Robert W. Baird reduced their target price on Comerica from $72.00 to $68.00 and set an “outperform” rating for the company in a report on Thursday, June 20th. StockNews.com lowered Comerica from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Raymond James raised Comerica from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a research note on Tuesday, July 2nd. Finally, DA Davidson restated a “neutral” rating and issued a $55.00 price objective on shares of Comerica in a report on Tuesday, September 10th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $55.73.

Comerica Stock Up 1.4 %

Comerica stock opened at $57.49 on Monday. The firm has a market capitalization of $7.62 billion, a P/E ratio of 11.43 and a beta of 1.23. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 1.23. Comerica Incorporated has a twelve month low of $37.40 and a twelve month high of $58.50. The stock’s fifty day simple moving average is $54.55 and its 200-day simple moving average is $52.34.

Comerica (NYSE:CMA) last issued 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. The company had revenue of $1.26 billion for the quarter, compared to the consensus estimate of $812.79 million. Comerica had a return on equity of 15.01% and a net margin of 12.15%. During the same quarter in the prior year, the business earned $2.01 EPS. As a group, equities analysts expect that Comerica Incorporated will post 5.05 earnings per share for the current fiscal year.

Comerica Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors 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 annualized dividend and a yield of 4.94%. Comerica’s dividend payout ratio (DPR) is 56.46%.

Insider Activity at Comerica

In other Comerica 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 transaction of $146,362.95. Following the completion of the transaction, the executive vice president now owns 27,910 shares in the company, valued at approximately $1,605,104.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

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.