AlphaQuest LLC Grows Holdings in Comerica Incorporated (NYSE:CMA)

AlphaQuest LLC increased its holdings in shares of Comerica Incorporated (NYSE:CMA) by 1,262.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 50,250 shares of the financial services provider’s stock after purchasing an additional 46,562 shares during the period. Comerica accounts for 0.4% of AlphaQuest LLC’s investment portfolio, making the stock its 12th largest holding. AlphaQuest LLC’s holdings in Comerica were worth $3,108,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CMA. State Street Corp raised its position in Comerica by 2.0% during the 3rd quarter. State Street Corp now owns 4,977,670 shares of the financial services provider’s stock worth $301,745,000 after buying an additional 96,084 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Comerica by 2.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 4,431,556 shares of the financial services provider’s stock worth $274,092,000 after acquiring an additional 125,514 shares during the period. Vaughan Nelson Investment Management L.P. raised its holdings in Comerica by 3.0% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 2,481,211 shares of the financial services provider’s stock worth $153,462,000 after purchasing an additional 72,391 shares in the last quarter. Azora Capital LP lifted its position in Comerica by 7.8% in the third quarter. Azora Capital LP now owns 2,230,369 shares of the financial services provider’s stock valued at $133,621,000 after purchasing an additional 161,181 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of Comerica by 1.4% in the third quarter. Geode Capital Management LLC now owns 2,111,845 shares of the financial services provider’s stock valued at $126,555,000 after buying an additional 29,661 shares in the last quarter. 80.74% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Keefe, Bruyette & Woods decreased their price target on Comerica from $82.00 to $77.00 and set an “outperform” rating on the stock in a research note on Thursday, January 23rd. Compass Point lifted their target price on shares of Comerica from $64.00 to $80.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Piper Sandler upped their price objective on Comerica from $64.00 to $72.00 and gave the stock a “neutral” rating in a report on Tuesday, December 3rd. Argus upgraded Comerica to a “hold” rating in a research note on Friday, January 31st. Finally, Truist Financial raised shares of Comerica to a “hold” rating in a research note on Monday, January 6th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Comerica currently has a consensus rating of “Hold” and a consensus price target of $68.67.

Comerica Stock Down 0.2 %

Comerica stock opened at $58.34 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.97 and a current ratio of 0.97. The company has a 50-day simple moving average of $64.27 and a 200-day simple moving average of $63.31. The firm has a market capitalization of $7.66 billion, a P/E ratio of 11.62 and a beta of 1.23. Comerica Incorporated has a one year low of $45.32 and a one year high of $73.45.

Comerica (NYSE:CMA) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.20 earnings per share (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 prior year, the business posted $1.46 earnings per share. As a group, equities analysts expect that Comerica Incorporated will post 5.28 earnings per share for the current year.

Comerica Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $0.71 per share. This represents a $2.84 annualized dividend and a yield of 4.87%. The ex-dividend date of this dividend is Friday, March 14th. Comerica’s dividend payout ratio is presently 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.