Quantbot Technologies LP Takes $6.44 Million Position in Comerica Incorporated (NYSE:CMA)

Quantbot Technologies LP acquired a new stake in Comerica Incorporated (NYSE:CMA) in the 4th quarter, according to the company in its most recent Form 13F filing 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.

Several other institutional investors and hedge funds have also modified their holdings of CMA. Trust Co. of Vermont increased its stake in shares of Comerica by 300.0% in the 4th quarter. Trust Co. of Vermont now owns 428 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 321 shares in the last quarter. Luken Investment Analytics LLC purchased a new position in shares of Comerica in the 4th quarter valued at about $31,000. MCF Advisors LLC increased its stake in shares of Comerica by 56.3% in the 4th quarter. MCF Advisors LLC now owns 633 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 228 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Comerica in the 3rd quarter valued at about $42,000. Finally, V Square Quantitative Management LLC increased its stake in shares of Comerica by 36.7% in the 4th quarter. V Square Quantitative Management LLC now owns 824 shares of the financial services provider’s stock valued at $51,000 after purchasing an additional 221 shares in the last quarter. Institutional investors and hedge funds own 80.74% of the company’s stock.

Wall Street Analysts Forecast Growth

CMA has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut their price target on Comerica from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. DA Davidson cut their price objective on Comerica from $71.00 to $67.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Wells Fargo & Company upgraded Comerica from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $51.00 to $73.00 in a research note on Friday, November 15th. Robert W. Baird boosted their price objective on Comerica from $75.00 to $80.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 11th. Finally, Truist Financial upgraded Comerica to a “hold” rating in a research note on Monday, January 6th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Comerica has an average rating of “Hold” and a consensus target price of $68.29.

Comerica Stock Up 1.2 %

NYSE:CMA opened at $57.75 on Friday. 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 stock’s fifty day moving average is $63.81 and its two-hundred day moving average is $63.30. Comerica Incorporated has a 52 week low of $45.32 and a 52 week high of $73.45. The stock has a market capitalization of $7.58 billion, a price-to-earnings ratio of 11.50 and a beta of 1.23.

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 in the previous year, the business posted $1.46 EPS. Research analysts anticipate that Comerica Incorporated will post 5.28 EPS for the current year.

Comerica Dividend Announcement

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

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.